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

Bed Bath & Beyond (NASDAQ:BBBY – Get 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:BBBY – Get 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.

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