Bed Bath & Beyond (NASDAQ:BBBY) Price Target Cut to $24.00 by Analysts at Loop Capital

Bed Bath & Beyond (NASDAQ:BBBY) had its price objective lowered by investment analysts at Loop Capital from $30.00 to $24.00 in a report issued on Friday, The Fly reports. The brokerage presently has a “hold” rating on the retailer’s stock. Loop Capital’s target price suggests a potential downside of 2.20% from the stock’s current price.

BBBY has been the topic of a number of other research reports. Wedbush lowered their price objective on Bed Bath & Beyond from $33.00 to $27.00 and set a “neutral” rating on the stock in a research note on Thursday. Robert W. Baird lowered Bed Bath & Beyond from an “outperform” rating to a “neutral” rating and increased their target price for the stock from $30.00 to $37.00 in a report on Wednesday, January 27th. Odeon Capital Group raised Bed Bath & Beyond from a “hold” rating to a “buy” rating in a research note on Wednesday, February 3rd. UBS Group downgraded shares of Bed Bath & Beyond from a “neutral” rating to a “sell” rating and set a $20.00 price objective on the stock. in a research note on Tuesday, January 26th. Finally, KeyCorp decreased their target price on shares of Bed Bath & Beyond from $24.00 to $22.00 and set an “underweight” rating on the stock in a report on Thursday. Four equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have issued a buy rating to the company’s stock. Bed Bath & Beyond currently has an average rating of “Hold” and an average price target of $22.73.

NASDAQ:BBBY opened at $24.54 on Friday. Bed Bath & Beyond has a 52 week low of $4.32 and a 52 week high of $53.90. The firm has a market cap of $2.97 billion, a price-to-earnings ratio of -13.41 and a beta of 2.10. The firm’s 50-day simple moving average is $29.12 and its 200 day simple moving average is $24.34. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.81 and a current ratio of 1.46.

Bed Bath & Beyond (NASDAQ:BBBY) last announced its earnings results on Tuesday, April 13th. The retailer reported $0.40 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.31 by $0.09. Bed Bath & Beyond had a negative net margin of 2.32% and a negative return on equity of 7.80%. The firm had revenue of $2.62 billion for the quarter, compared to analyst estimates of $2.65 billion. During the same quarter in the prior year, the business posted $0.38 EPS. The business’s revenue was down 15.7% compared to the same quarter last year. Sell-side analysts anticipate that Bed Bath & Beyond will post -1.1 EPS for the current year.

Institutional investors have recently made changes to their positions in the stock. Vantage Consulting Group Inc acquired a new position in Bed Bath & Beyond during the 4th quarter worth approximately $25,000. Signaturefd LLC bought a new stake in shares of Bed Bath & Beyond during the fourth quarter worth $43,000. Twin Tree Management LP bought a new stake in shares of Bed Bath & Beyond during the fourth quarter worth $60,000. Daiwa Securities Group Inc. acquired a new position in shares of Bed Bath & Beyond during the fourth quarter worth $75,000. Finally, Veriti Management LLC bought a new position in shares of Bed Bath & Beyond in the 4th quarter valued at $86,000.

Bed Bath & Beyond Company Profile

Bed Bath & Beyond Inc, together with its subsidiaries, operates a chain of retail stores. The company 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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The Fly

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

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