Bed Bath & Beyond (BBBY) Lifted to “Buy” at ValuEngine

ValuEngine upgraded shares of Bed Bath & Beyond (NASDAQ:BBBY) from a hold rating to a buy rating in a research report report published on Friday morning.

BBBY has been the topic of several other reports. Zacks Investment Research raised Bed Bath & Beyond from a hold rating to a buy rating and set a $31.00 target price on the stock in a research report on Tuesday, September 5th. UBS reaffirmed a neutral rating and issued a $30.00 target price (down from $33.00) on shares of Bed Bath & Beyond in a research report on Thursday, September 14th. Telsey Advisory Group cut their target price on Bed Bath & Beyond from $32.00 to $21.00 and set a market perform rating on the stock in a research report on Wednesday, September 20th. BidaskClub lowered Bed Bath & Beyond from a sell rating to a strong sell rating in a research report on Thursday, August 24th. Finally, Jefferies Group reissued a hold rating and issued a $25.00 price objective (down from $34.00) on shares of Bed Bath & Beyond in a research report on Thursday, September 21st. Nine equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and two have issued a buy rating to the company. The stock has a consensus rating of Hold and an average price target of $27.88.

Bed Bath & Beyond (NASDAQ:BBBY) opened at $24.40 on Friday. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.77 and a quick ratio of 0.33. The firm has a market capitalization of $3,279.46, a price-to-earnings ratio of 5.58 and a beta of 1.10. Bed Bath & Beyond has a 52-week low of $19.07 and a 52-week high of $48.83.

Bed Bath & Beyond (NASDAQ:BBBY) last issued its earnings results on Tuesday, September 19th. The retailer reported $0.67 earnings per share for the quarter, missing the consensus estimate of $0.95 by ($0.28). The firm had revenue of $2.94 billion during the quarter, compared to analysts’ expectations of $3.01 billion. Bed Bath & Beyond had a return on equity of 21.74% and a net margin of 4.64%. The company’s quarterly revenue was down 1.7% compared to the same quarter last year. During the same period last year, the business posted $1.11 earnings per share. analysts predict that Bed Bath & Beyond will post 2.98 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 16th. Stockholders of record on Friday, December 15th will be paid a dividend of $0.15 per share. The ex-dividend date of this dividend is Thursday, December 14th. This represents a $0.60 annualized dividend and a dividend yield of 2.46%. Bed Bath & Beyond’s dividend payout ratio is presently 15.42%.

Institutional investors have recently made changes to their positions in the company. GSA Capital Partners LLP acquired a new position in Bed Bath & Beyond in the third quarter worth about $317,000. Ameritas Investment Partners Inc. grew its stake in Bed Bath & Beyond by 1,073.4% in the third quarter. Ameritas Investment Partners Inc. now owns 43,300 shares of the retailer’s stock worth $1,194,000 after purchasing an additional 39,610 shares in the last quarter. California Public Employees Retirement System grew its stake in Bed Bath & Beyond by 7.0% in the third quarter. California Public Employees Retirement System now owns 647,245 shares of the retailer’s stock worth $15,191,000 after purchasing an additional 42,247 shares in the last quarter. Janney Montgomery Scott LLC grew its stake in Bed Bath & Beyond by 27.4% in the third quarter. Janney Montgomery Scott LLC now owns 16,537 shares of the retailer’s stock worth $388,000 after purchasing an additional 3,552 shares in the last quarter. Finally, Cubist Systematic Strategies LLC acquired a new position in Bed Bath & Beyond in the third quarter worth about $988,000. Institutional investors own 91.59% of the company’s stock.

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Bed Bath & Beyond Company Profile

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).

To view ValuEngine’s full report, visit ValuEngine’s official website.

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