Best Buy (NYSE:BBY) Stock Rating Upgraded by TheStreet

Best Buy (NYSE:BBYGet Rating) was upgraded by equities researchers at TheStreet from a “c+” rating to a “b” rating in a note issued to investors on Wednesday, TheStreetRatingsTable reports.

BBY has been the subject of a number of other reports. Telsey Advisory Group boosted their target price on shares of Best Buy from $82.00 to $88.00 and gave the company an “outperform” rating in a research note on Wednesday, November 23rd. DA Davidson reduced their target price on shares of Best Buy from $110.00 to $99.00 and set a “buy” rating for the company in a research note on Wednesday, August 31st. Morgan Stanley reduced their target price on shares of Best Buy from $82.00 to $80.00 and set an “equal weight” rating for the company in a research note on Wednesday, August 31st. Wedbush boosted their target price on shares of Best Buy from $80.00 to $85.00 and gave the company a “buy” rating in a research note on Wednesday, November 23rd. Finally, UBS Group boosted their target price on shares of Best Buy to $80.00 in a research note on Thursday, November 24th. Eight equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, Best Buy presently has an average rating of “Moderate Buy” and a consensus price target of $81.44.

Best Buy Trading Up 2.5 %

NYSE BBY opened at $83.40 on Wednesday. Best Buy has a one year low of $60.78 and a one year high of $112.96. The company has a 50-day simple moving average of $71.38 and a 200-day simple moving average of $73.24. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.26 and a current ratio of 0.98. The firm has a market capitalization of $18.78 billion, a PE ratio of 12.49, a price-to-earnings-growth ratio of 0.72 and a beta of 1.50.

Best Buy (NYSE:BBYGet Rating) last posted its quarterly earnings results on Tuesday, November 22nd. The technology retailer reported $1.38 EPS for the quarter, beating the consensus estimate of $1.03 by $0.35. Best Buy had a net margin of 3.23% and a return on equity of 57.26%. The business had revenue of $10.59 billion during the quarter, compared to analyst estimates of $10.30 billion. During the same period in the previous year, the business posted $2.08 EPS. The company’s quarterly revenue was down 11.1% on a year-over-year basis. On average, equities analysts forecast that Best Buy will post 6.55 earnings per share for the current year.

Insider Buying and Selling

In related news, Chairman Richard M. Schulze sold 366,100 shares of the business’s stock in a transaction that occurred on Monday, November 28th. The shares were sold at an average price of $81.94, for a total value of $29,998,234.00. Following the sale, the chairman now directly owns 590,148 shares in the company, valued at approximately $48,356,727.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP Kathleen Scarlett sold 25,071 shares of the business’s stock in a transaction that occurred on Monday, September 19th. The shares were sold at an average price of $72.37, for a total transaction of $1,814,388.27. Following the sale, the executive vice president now owns 50,101 shares in the company, valued at $3,625,809.37. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Richard M. Schulze sold 366,100 shares of the business’s stock in a transaction that occurred on Monday, November 28th. The shares were sold at an average price of $81.94, for a total transaction of $29,998,234.00. Following the sale, the chairman now owns 590,148 shares in the company, valued at approximately $48,356,727.12. The disclosure for this sale can be found here. Insiders have sold 391,325 shares of company stock worth $31,823,450 in the last ninety days. 0.44% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Best Buy

Large investors have recently made changes to their positions in the company. BerganKDV Wealth Management LLC raised its holdings in shares of Best Buy by 13,566.7% during the second quarter. BerganKDV Wealth Management LLC now owns 410 shares of the technology retailer’s stock valued at $27,000 after acquiring an additional 407 shares during the period. Bank Julius Baer & Co. Ltd Zurich purchased a new position in Best Buy during the first quarter valued at approximately $38,000. Clear Street Markets LLC grew its position in Best Buy by 376.4% during the second quarter. Clear Street Markets LLC now owns 424 shares of the technology retailer’s stock valued at $28,000 after purchasing an additional 335 shares in the last quarter. Exos TFP Holdings LLC purchased a new position in Best Buy during the third quarter valued at approximately $29,000. Finally, Ellevest Inc. grew its position in Best Buy by 91.1% during the second quarter. Ellevest Inc. now owns 472 shares of the technology retailer’s stock valued at $31,000 after purchasing an additional 225 shares in the last quarter. Institutional investors and hedge funds own 79.86% of the company’s stock.

About Best Buy

(Get Rating)

Best Buy Co, Inc retails technology products in the United States and Canada. The company operates in two segments, Domestic and International. Its stores provide computing products, such as desktops, notebooks, and peripherals; mobile phones comprising related mobile network carrier commissions; networking products; tablets covering e-readers; smartwatches; and consumer electronics consisting of digital imaging, health and fitness, home theater, portable audio comprising headphones and portable speakers, and smart home products.

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