According to Zacks, “Bed Bath & Beyond outperformed the industry in the past three months, thanks to progress on reaching its long-term financial targets. The company expects moderating declines in operating profit and earnings per share in fiscal 2018 and 2019. It also anticipates witnessing earnings per share growth by fiscal 2020. Further, the company has a solid surprise trend, with earnings beat in four of the last five quarters, including the third quarter of fiscal 2018. Though sales missed estimates for the second straight quarter, it grew year over year due to gains from transformation efforts and other customer-centric initiatives. Its store-growth initiatives and shareholder-friendly moves are also commendable. However, the company is witnessing soft comps for a while now, which is expected to inch down 1% in fiscal 2018. Also, the company's long trend of strained margins, owing to higher spending, is likely to persist in fiscal 2018.”
Bed Bath & Beyond (NASDAQ:BBBY) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Tuesday.
Other analysts also recently issued reports about the company. BidaskClub upgraded Bed Bath & Beyond from a “hold” rating to a “buy” rating in a report on Thursday, December 20th. Telsey Advisory Group reiterated a “market perform” rating and set a $13.00 price target (down from $16.00) on shares of Bed Bath & Beyond in a report on Friday, January 4th. Wedbush reduced their target price on Bed Bath & Beyond from $15.00 to $14.00 and set a “neutral” rating for the company in a research note on Thursday, January 10th. Citigroup reduced their target price on Bed Bath & Beyond from $13.00 to $10.00 and set a “sell” rating for the company in a research note on Monday, December 3rd. Finally, Wells Fargo & Co restated a “sell” rating and issued a $11.00 target price on shares of Bed Bath & Beyond in a research note on Monday, January 7th. Eleven analysts have rated the stock with a sell rating and nine have given a hold rating to the company. The company currently has an average rating of “Sell” and a consensus price target of $13.50.
Shares of Bed Bath & Beyond stock opened at $15.59 on Tuesday. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.67 and a quick ratio of 0.55. Bed Bath & Beyond has a 1-year low of $10.46 and a 1-year high of $22.66. The stock has a market cap of $2.15 billion, a price-to-earnings ratio of 5.00, a price-to-earnings-growth ratio of 5.87 and a beta of 1.15.
Bed Bath & Beyond (NASDAQ:BBBY) last issued its quarterly earnings results on Wednesday, January 9th. The retailer reported $0.18 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.17 by $0.01. Bed Bath & Beyond had a return on equity of 11.08% and a net margin of 2.50%. The firm had revenue of $3.03 billion during the quarter, compared to the consensus estimate of $3.04 billion. During the same period last year, the business posted $0.44 EPS. The business’s revenue was up 2.6% compared to the same quarter last year. On average, sell-side analysts forecast that Bed Bath & Beyond will post 2 earnings per share for the current year.
In related news, Director Jordan Heller sold 19,554 shares of the firm’s stock in a transaction dated Tuesday, January 15th. The shares were sold at an average price of $15.26, for a total value of $298,394.04. Following the transaction, the director now owns 5,647 shares of the company’s stock, valued at approximately $86,173.22. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 5.50% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Benjamin F. Edwards & Company Inc. lifted its position in Bed Bath & Beyond by 29.0% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 3,276 shares of the retailer’s stock valued at $37,000 after acquiring an additional 737 shares in the last quarter. Parallel Advisors LLC lifted its position in Bed Bath & Beyond by 1,508.4% in the 4th quarter. Parallel Advisors LLC now owns 4,793 shares of the retailer’s stock valued at $54,000 after acquiring an additional 4,495 shares in the last quarter. Acadian Asset Management LLC lifted its position in Bed Bath & Beyond by 413.9% in the 4th quarter. Acadian Asset Management LLC now owns 6,490 shares of the retailer’s stock valued at $73,000 after acquiring an additional 5,227 shares in the last quarter. Psagot Investment House Ltd. bought a new position in Bed Bath & Beyond in the 4th quarter valued at about $79,000. Finally, Quantamental Technologies LLC bought a new position in Bed Bath & Beyond in the 4th quarter valued at about $103,000. 97.48% of the stock is currently owned by institutional investors and hedge funds.
Bed Bath & Beyond Company Profile
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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