Best Buy Co., Inc. (NYSE:BBY)‘s stock had its “hold” rating restated by equities research analysts at Jefferies Group LLC in a report issued on Monday. They currently have a $60.00 target price on the technology retailer’s stock. Jefferies Group LLC’s target price suggests a potential upside of 4.90% from the company’s current price. Jefferies Group also issued estimates for Best Buy Co.’s FY2018 earnings at $4.06 EPS, Q1 2019 earnings at $0.65 EPS, Q2 2019 earnings at $0.71 EPS, Q3 2019 earnings at $0.77 EPS, Q4 2019 earnings at $2.14 EPS, FY2019 earnings at $4.24 EPS, FY2021 earnings at $4.72 EPS and FY2022 earnings at $5.11 EPS. The analysts noted that the move was a valuation call.
BBY has been the subject of a number of other reports. Deutsche Bank AG reissued a “buy” rating and set a $60.00 price objective on shares of Best Buy Co. in a research note on Thursday, August 3rd. KeyCorp reissued a “hold” rating on shares of Best Buy Co. in a research note on Friday, November 10th. Loop Capital reissued a “buy” rating and set a $72.00 price objective on shares of Best Buy Co. in a research note on Wednesday, August 16th. Oppenheimer Holdings, Inc. reissued a “hold” rating on shares of Best Buy Co. in a research note on Wednesday, September 20th. Finally, Wedbush set a $33.00 price objective on shares of Best Buy Co. and gave the stock a “sell” rating in a research note on Monday. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. Best Buy Co. presently has an average rating of “Buy” and an average price target of $58.97.
Best Buy Co. (BBY) opened at $57.20 on Monday. Best Buy Co. has a 1-year low of $39.03 and a 1-year high of $63.32. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.42 and a quick ratio of 0.69. The stock has a market cap of $17,044.55, a PE ratio of 14.76, a price-to-earnings-growth ratio of 1.15 and a beta of 1.42.
Best Buy Co. (NYSE:BBY) last issued its earnings results on Tuesday, August 29th. The technology retailer reported $0.69 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.63 by $0.06. Best Buy Co. had a net margin of 3.00% and a return on equity of 27.41%. The company had revenue of $8.94 billion during the quarter, compared to analysts’ expectations of $8.67 billion. During the same period last year, the company posted $0.57 earnings per share. The firm’s quarterly revenue was up 4.8% compared to the same quarter last year. equities research analysts anticipate that Best Buy Co. will post 4.06 EPS for the current year.
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In related news, CEO Hubert Joly sold 106,942 shares of Best Buy Co. stock in a transaction on Tuesday, September 5th. The shares were sold at an average price of $54.68, for a total transaction of $5,847,588.56. Following the transaction, the chief executive officer now owns 645,222 shares in the company, valued at approximately $35,280,738.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Corie S. Barry sold 787 shares of Best Buy Co. stock in a transaction on Monday, August 21st. The shares were sold at an average price of $59.92, for a total transaction of $47,157.04. Following the transaction, the chief financial officer now owns 54,159 shares in the company, valued at approximately $3,245,207.28. The disclosure for this sale can be found here. In the last quarter, insiders sold 166,259 shares of company stock worth $9,182,693. 0.84% of the stock is owned by company insiders.
Large investors have recently bought and sold shares of the stock. FNY Managed Accounts LLC lifted its holdings in shares of Best Buy Co. by 18,281.8% during the 2nd quarter. FNY Managed Accounts LLC now owns 2,000 shares of the technology retailer’s stock valued at $114,000 after acquiring an additional 2,011 shares in the last quarter. Huntington National Bank lifted its holdings in shares of Best Buy Co. by 18.4% during the 2nd quarter. Huntington National Bank now owns 2,050 shares of the technology retailer’s stock valued at $118,000 after acquiring an additional 318 shares in the last quarter. Exane Derivatives lifted its holdings in shares of Best Buy Co. by 65.5% during the 2nd quarter. Exane Derivatives now owns 2,553 shares of the technology retailer’s stock valued at $146,000 after acquiring an additional 1,010 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Best Buy Co. by 6.2% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,774 shares of the technology retailer’s stock valued at $159,000 after acquiring an additional 163 shares in the last quarter. Finally, Smithfield Trust Co. acquired a new position in shares of Best Buy Co. during the 3rd quarter valued at $178,000. Institutional investors and hedge funds own 87.52% of the company’s stock.
Best Buy Co. Company Profile
Best Buy Co, Inc is a provider of technology products, services and solutions. The Company offers products and services to the customers visiting its stores, engaging with Geek Squad agents, or using its Websites or mobile applications. It has operations in the United States, Canada and Mexico. The Company operates through two segments: Domestic and International.
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