ValuEngine Downgrades Bed Bath & Beyond (NASDAQ:BBBY) to Strong Sell

Bed Bath & Beyond (NASDAQ:BBBY) was downgraded by stock analysts at ValuEngine from a “sell” rating to a “strong sell” rating in a research note issued to investors on Friday, ValuEngine reports.

A number of other research firms also recently commented on BBBY. UBS Group dropped their price objective on Bed Bath & Beyond from $13.00 to $11.00 and set a “neutral” rating on the stock in a research note on Thursday, October 3rd. Morgan Stanley set a $12.00 price objective on Bed Bath & Beyond and gave the stock a “hold” rating in a research note on Tuesday, October 8th. Loop Capital dropped their price objective on Bed Bath & Beyond from $12.00 to $10.00 and set a “hold” rating on the stock in a research note on Thursday, October 3rd. Raymond James raised Bed Bath & Beyond to a “buy” rating in a research note on Thursday, October 10th. Finally, Jefferies Financial Group dropped their price objective on Bed Bath & Beyond from $13.00 to $11.00 and set a “hold” rating on the stock in a research note on Thursday, October 3rd. Five research analysts have rated the stock with a sell rating, eleven have issued a hold rating and five have assigned a buy rating to the stock. Bed Bath & Beyond has an average rating of “Hold” and an average target price of $14.44.

BBBY stock opened at $14.20 on Friday. The company has a quick ratio of 0.52, a current ratio of 1.46 and a debt-to-equity ratio of 1.73. Bed Bath & Beyond has a 52-week low of $7.31 and a 52-week high of $19.57. The stock’s 50 day moving average is $12.54 and its two-hundred day moving average is $11.66. The company has a market capitalization of $1.70 billion, a PE ratio of 6.93, a P/E/G ratio of 7.01 and a beta of 1.30.

Bed Bath & Beyond (NASDAQ:BBBY) last announced its quarterly earnings results on Wednesday, October 2nd. The retailer reported $0.34 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.27 by $0.07. Bed Bath & Beyond had a positive return on equity of 10.20% and a negative net margin of 6.36%. The company had revenue of $2.72 billion during the quarter, compared to analyst estimates of $2.76 billion. During the same quarter in the previous year, the firm posted $0.36 EPS. The firm’s quarterly revenue was down 7.3% on a year-over-year basis. As a group, sell-side analysts anticipate that Bed Bath & Beyond will post 1.92 EPS for the current year.

Institutional investors have recently made changes to their positions in the company. Kempen Capital Management N.V. raised its position in shares of Bed Bath & Beyond by 225.0% during the second quarter. Kempen Capital Management N.V. now owns 991,147 shares of the retailer’s stock worth $11,517,000 after purchasing an additional 686,147 shares during the period. Alpha Windward LLC acquired a new stake in shares of Bed Bath & Beyond during the second quarter worth $296,000. AXA raised its position in shares of Bed Bath & Beyond by 259.6% during the second quarter. AXA now owns 95,643 shares of the retailer’s stock worth $1,112,000 after purchasing an additional 69,043 shares during the period. BBT Capital Management LLC acquired a new stake in shares of Bed Bath & Beyond during the second quarter worth $409,000. Finally, Invesco Ltd. raised its position in shares of Bed Bath & Beyond by 505.0% during the second quarter. Invesco Ltd. now owns 3,712,146 shares of the retailer’s stock worth $43,135,000 after purchasing an additional 3,098,546 shares during the period.

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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