Bed Bath & Beyond Inc. (BBBY) Stock Rating Lowered by BidaskClub

Bed Bath & Beyond Inc. (NASDAQ:BBBY) was downgraded by equities researchers at BidaskClub from a “sell” rating to a “strong sell” rating in a note issued to investors on Thursday.

Other equities analysts have also recently issued research reports about the company. Wedbush set a $30.00 price target on Bed Bath & Beyond and gave the stock a “hold” rating in a research note on Saturday, June 24th. Bank of America Corporation set a $27.00 price target on Bed Bath & Beyond and gave the stock a “sell” rating in a research note on Saturday, June 24th. Morgan Stanley set a $30.00 price target on Bed Bath & Beyond and gave the stock a “sell” rating in a research note on Saturday, June 24th. Oppenheimer Holdings, Inc. reissued a “hold” rating on shares of Bed Bath & Beyond in a research note on Saturday, June 24th. Finally, UBS AG reissued a “neutral” rating and issued a $33.00 price target (down previously from $37.00) on shares of Bed Bath & Beyond in a research note on Monday, June 26th. Nine analysts have rated the stock with a sell rating, fourteen have given a hold rating and two have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $35.00.

Shares of Bed Bath & Beyond (BBBY) opened at 27.94 on Thursday. Bed Bath & Beyond has a 52-week low of $26.96 and a 52-week high of $48.83. The firm has a market capitalization of $3.93 billion, a PE ratio of 6.43 and a beta of 1.13. The company’s 50-day moving average is $28.91 and its 200 day moving average is $35.18.

Bed Bath & Beyond (NASDAQ:BBBY) last issued its quarterly earnings results on Thursday, June 22nd. The retailer reported $0.58 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.66 by $0.08. The company had revenue of $2.74 billion during the quarter, compared to analysts’ expectations of $2.79 billion. Bed Bath & Beyond had a return on equity of 24.38% and a net margin of 5.22%. The company’s revenue for the quarter was up .1% compared to the same quarter last year. During the same period in the prior year, the business posted $0.80 EPS. Equities analysts expect that Bed Bath & Beyond will post $4.02 earnings per share for the current fiscal year.

A number of hedge funds and other institutional investors have recently modified their holdings of BBBY. Smith Graham & Co. Investment Advisors LP increased its position in shares of Bed Bath & Beyond by 25.8% in the second quarter. Smith Graham & Co. Investment Advisors LP now owns 112,990 shares of the retailer’s stock valued at $3,435,000 after buying an additional 23,170 shares in the last quarter. Advisors Asset Management Inc. increased its position in shares of Bed Bath & Beyond by 26.2% in the first quarter. Advisors Asset Management Inc. now owns 10,474 shares of the retailer’s stock valued at $413,000 after buying an additional 2,176 shares in the last quarter. ARGI Investment Services LLC increased its position in shares of Bed Bath & Beyond by 1.1% in the first quarter. ARGI Investment Services LLC now owns 27,289 shares of the retailer’s stock valued at $1,076,000 after buying an additional 284 shares in the last quarter. Janney Montgomery Scott LLC increased its position in shares of Bed Bath & Beyond by 59.8% in the first quarter. Janney Montgomery Scott LLC now owns 11,270 shares of the retailer’s stock valued at $445,000 after buying an additional 4,218 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in shares of Bed Bath & Beyond by 27.9% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 11,150 shares of the retailer’s stock valued at $440,000 after buying an additional 2,432 shares in the last quarter. 91.50% of the stock is currently owned by institutional investors.

About Bed Bath & Beyond

Bed Bath & Beyond Inc is a retailer, which operates under the names Bed Bath & Beyond (BBB), Christmas Tree Shops, Christmas Tree Shops andThat! or andThat! (collectively, CTS), Harmon or Harmon Face Values (collectively, Harmon), buybuy BABY (Baby) and World Market, Cost Plus World Market or Cost Plus (collectively, Cost Plus World Market).