Bed Bath & Beyond (NASDAQ:BBBY) Stock Rating Upgraded by Telsey Advisory Group

Bed Bath & Beyond (NASDAQ:BBBY) was upgraded by equities research analysts at Telsey Advisory Group from a “market perform” rating to an “outperform” rating in a note issued to investors on Thursday, Marketbeat Ratings reports. The firm presently has a $16.00 price target on the retailer’s stock, up from their prior price target of $14.00. Telsey Advisory Group’s price objective indicates a potential upside of 23.31% from the company’s previous close.

BBBY has been the subject of several other reports. ValuEngine upgraded Bed Bath & Beyond from a “strong sell” rating to a “sell” rating in a research note on Wednesday, October 2nd. Robert W. Baird reduced their target price on Bed Bath & Beyond from $18.00 to $13.00 and set a “neutral” rating for the company in a research note on Thursday, July 11th. Morgan Stanley reduced their target price on Bed Bath & Beyond from $20.00 to $13.00 and set an “equal weight” rating for the company in a research note on Friday, July 12th. Loop Capital cut their price target on Bed Bath & Beyond from $12.00 to $10.00 and set a “hold” rating for the company in a research note on Thursday, October 3rd. Finally, Goldman Sachs Group initiated coverage on Bed Bath & Beyond in a research note on Thursday, July 11th. They set a “sell” rating and a $11.00 price target for the company. Five analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have assigned a buy rating to the stock. Bed Bath & Beyond currently has an average rating of “Hold” and a consensus target price of $14.44.

Shares of BBBY opened at $12.98 on Thursday. The company has a debt-to-equity ratio of 1.73, a current ratio of 1.46 and a quick ratio of 0.52. The stock has a 50-day moving average of $9.88 and a 200-day moving average of $12.29. The company has a market cap of $1.66 billion, a PE ratio of 6.33, a P/E/G ratio of 5.18 and a beta of 1.25. Bed Bath & Beyond has a one year low of $7.31 and a one year high of $19.57.

Bed Bath & Beyond (NASDAQ:BBBY) last issued its earnings results on Wednesday, October 2nd. The retailer reported $0.34 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.27 by $0.07. The company had revenue of $2.72 billion during the quarter, compared to the consensus estimate of $2.76 billion. Bed Bath & Beyond had a positive return on equity of 10.20% and a negative net margin of 6.36%. The firm’s revenue for the quarter was down 7.3% compared to the same quarter last year. During the same period last year, the business posted $0.36 EPS. Analysts expect that Bed Bath & Beyond will post 1.92 EPS for the current fiscal year.

A number of hedge funds have recently added to or reduced their stakes in BBBY. Anderson Fisher LLC acquired a new position in Bed Bath & Beyond during the 2nd quarter valued at about $82,000. Captrust Financial Advisors lifted its position in shares of Bed Bath & Beyond by 7,000.0% during the 2nd quarter. Captrust Financial Advisors now owns 7,100 shares of the retailer’s stock worth $84,000 after buying an additional 7,000 shares in the last quarter. Advisory Services Network LLC lifted its position in shares of Bed Bath & Beyond by 825.7% during the 2nd quarter. Advisory Services Network LLC now owns 9,053 shares of the retailer’s stock worth $105,000 after buying an additional 8,075 shares in the last quarter. Roble Belko & Company Inc bought a new position in shares of Bed Bath & Beyond during the 2nd quarter worth approximately $112,000. Finally, Harvey Capital Management Inc. bought a new position in shares of Bed Bath & Beyond during the 2nd quarter worth approximately $116,000.

About Bed Bath & Beyond

Bed Bath & Beyond Inc, together with its subsidiaries, operates a chain of retail stores. It sells a range of domestics merchandise, including bed linens and related items, bath items, and kitchen textiles; and home furnishings, such as kitchen and tabletop items, fine tabletop, basic housewares, general home furnishings, consumables, and various juvenile products.

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Analyst Recommendations for Bed Bath & Beyond (NASDAQ:BBBY)

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