Wells Fargo & Company Cuts Bed Bath & Beyond (NASDAQ:BBBY) Price Target to $5.00

Bed Bath & Beyond (NASDAQ:BBBYGet Rating) had its price target decreased by equities researchers at Wells Fargo & Company from $10.00 to $5.00 in a note issued to investors on Wednesday, Stock Target Advisor reports. The brokerage currently has an “underweight” rating on the retailer’s stock. Wells Fargo & Company‘s price target points to a potential downside of 40.90% from the stock’s current price.

A number of other research firms have also recently commented on BBBY. B. Riley reduced their price target on Bed Bath & Beyond from $26.00 to $17.00 and set a “na” rating for the company in a report on Tuesday, May 17th. Zacks Investment Research cut Bed Bath & Beyond from a “hold” rating to a “strong sell” rating and set a $14.00 price objective for the company. in a report on Wednesday, April 20th. StockNews.com initiated coverage on Bed Bath & Beyond in a report on Thursday, March 31st. They set a “sell” rating for the company. Morgan Stanley reduced their price objective on Bed Bath & Beyond from $8.00 to $7.00 and set an “underweight” rating for the company in a report on Thursday, April 14th. Finally, The Goldman Sachs Group reduced their price objective on Bed Bath & Beyond from $14.00 to $7.00 and set a “sell” rating for the company in a report on Thursday, April 14th. Nine equities research analysts have rated the stock with a sell rating and three have given a hold rating to the company. Based on data from MarketBeat, Bed Bath & Beyond presently has a consensus rating of “Sell” and a consensus target price of $12.62.

Bed Bath & Beyond stock traded up $0.04 during midday trading on Wednesday, reaching $8.46. 49,573 shares of the company’s stock were exchanged, compared to its average volume of 5,601,365. Bed Bath & Beyond has a 52 week low of $7.51 and a 52 week high of $40.00. The company has a debt-to-equity ratio of 6.77, a quick ratio of 0.31 and a current ratio of 1.14. The firm has a market cap of $675.87 million, a price-to-earnings ratio of -1.47 and a beta of 1.81. The stock’s 50-day simple moving average is $13.75 and its 200 day simple moving average is $16.12.

Bed Bath & Beyond (NASDAQ:BBBYGet Rating) last posted its quarterly earnings results on Wednesday, April 13th. The retailer reported ($0.92) EPS for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.94). Bed Bath & Beyond had a negative return on equity of 14.09% and a negative net margin of 7.11%. The business had revenue of $2.05 billion for the quarter, compared to the consensus estimate of $2.08 billion. During the same quarter in the previous year, the business posted $0.40 EPS. The company’s revenue for the quarter was down 21.7% on a year-over-year basis. Research analysts forecast that Bed Bath & Beyond will post -2.47 earnings per share for the current year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Exchange Traded Concepts LLC acquired a new position in Bed Bath & Beyond during the first quarter valued at approximately $64,000. BDO Wealth Advisors LLC raised its position in Bed Bath & Beyond by 1,836.7% during the first quarter. BDO Wealth Advisors LLC now owns 2,905 shares of the retailer’s stock valued at $65,000 after purchasing an additional 2,755 shares in the last quarter. Dark Forest Capital Management LP acquired a new position in Bed Bath & Beyond during the third quarter valued at approximately $51,000. First Mercantile Trust Co. bought a new stake in shares of Bed Bath & Beyond during the third quarter worth $62,000. Finally, Nisa Investment Advisors LLC bought a new stake in shares of Bed Bath & Beyond during the first quarter worth $92,000.

About Bed Bath & Beyond (Get Rating)

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.

Read More

Stock Target Advisor logo

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

Want More Great Investing Ideas?

Receive News & Ratings for Bed Bath & Beyond Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bed Bath & Beyond and related companies with MarketBeat.com's FREE daily email newsletter.