Best Buy (NYSE:BBY) had its price target hoisted by Telsey Advisory Group from $105.00 to $120.00 in a report issued on Monday, Briefing.com Automated Import reports. They currently have an outperform rating on the technology retailer’s stock.
Several other analysts have also recently commented on BBY. Nomura Instinet lowered their price target on Best Buy from $85.00 to $84.00 and set a neutral rating for the company in a report on Friday, May 22nd. DA Davidson initiated coverage on Best Buy in a report on Friday, August 14th. They issued a buy rating and a $118.00 price target for the company. Zacks Investment Research restated a buy rating on shares of Best Buy in a report on Tuesday, July 28th. Guggenheim upgraded Best Buy to a buy rating in a report on Thursday, July 16th. Finally, Barclays boosted their target price on Best Buy from $85.00 to $95.00 and gave the stock an overweight rating in a report on Wednesday, July 8th. Seven investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. The company presently has a consensus rating of Buy and a consensus target price of $95.45.
BBY opened at $111.70 on Monday. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.02 and a quick ratio of 0.57. The stock has a market capitalization of $28.83 billion, a price-to-earnings ratio of 19.37, a price-to-earnings-growth ratio of 2.39 and a beta of 1.50. The business has a 50-day moving average of $95.65 and a two-hundred day moving average of $80.45. Best Buy has a 12 month low of $48.10 and a 12 month high of $113.67.
Best Buy (NYSE:BBY) last posted its quarterly earnings results on Thursday, May 21st. The technology retailer reported $0.67 EPS for the quarter, beating the consensus estimate of $0.41 by $0.26. The company had revenue of $8.56 billion during the quarter, compared to analysts’ expectations of $8.26 billion. Best Buy had a return on equity of 45.89% and a net margin of 3.33%. The firm’s revenue was down 6.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.02 EPS. Equities research analysts anticipate that Best Buy will post 5.74 earnings per share for the current year.
In other Best Buy news, insider Whitney L. Alexander sold 9,000 shares of the company’s stock in a transaction that occurred on Thursday, July 23rd. The stock was sold at an average price of $98.42, for a total value of $885,780.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Richard M. Schulze sold 290,796 shares of the company’s stock in a transaction that occurred on Friday, June 26th. The stock was sold at an average price of $85.59, for a total value of $24,889,229.64. The disclosure for this sale can be found here. In the last 90 days, insiders sold 920,549 shares of company stock valued at $77,977,061. 0.64% of the stock is owned by company insiders.
Several institutional investors and hedge funds have recently made changes to their positions in the business. Bay Harbor Wealth Management LLC raised its position in shares of Best Buy by 17.7% in the 2nd quarter. Bay Harbor Wealth Management LLC now owns 877 shares of the technology retailer’s stock valued at $77,000 after purchasing an additional 132 shares in the last quarter. Profund Advisors LLC raised its position in shares of Best Buy by 2.9% in the 2nd quarter. Profund Advisors LLC now owns 4,799 shares of the technology retailer’s stock valued at $419,000 after purchasing an additional 135 shares in the last quarter. Trustmark National Bank Trust Department raised its position in shares of Best Buy by 4.3% in the 1st quarter. Trustmark National Bank Trust Department now owns 4,495 shares of the technology retailer’s stock valued at $256,000 after purchasing an additional 185 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. raised its position in shares of Best Buy by 18.4% in the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,262 shares of the technology retailer’s stock valued at $110,000 after purchasing an additional 196 shares in the last quarter. Finally, Signaturefd LLC raised its position in shares of Best Buy by 14.1% in the 1st quarter. Signaturefd LLC now owns 1,619 shares of the technology retailer’s stock valued at $92,000 after purchasing an additional 200 shares in the last quarter. 77.43% of the stock is currently owned by institutional investors.
Best Buy Company Profile
Best Buy Co, Inc operates as a retailer of technology products, services, and solutions in the United States, Canada, and Mexico. The company operates in two segments, Domestic and International. Its stores provide Computing and Mobile Phones, such as computing and peripherals, e-readers, networking products, tablets, and wearables, as well as mobile phones comprising related mobile network carrier commissions; consumer electronics, including digital imaging, health and fitness, home theater, portable audio, and smart home products; and entertainment products consisting of drones, movies, music, and toys, as well as gaming hardware and software, and virtual reality and other software products.
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