Wall Street Zen Upgrades Best Buy (NYSE:BBY) to Buy

Best Buy (NYSE:BBY) was upgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research report issued on Friday.

BBY has been the topic of several other research reports. Evercore ISI raised their price objective on Best Buy from $80.00 to $85.00 and gave the stock an “in-line” rating in a research note on Wednesday. Argus restated a “hold” rating on shares of Best Buy in a report on Tuesday, September 16th. Piper Sandler lifted their price objective on Best Buy from $75.00 to $76.00 and gave the company a “neutral” rating in a report on Wednesday. Guggenheim reissued a “buy” rating and set a $90.00 target price on shares of Best Buy in a research note on Wednesday. Finally, Wedbush restated a “neutral” rating and set a $75.00 target price on shares of Best Buy in a report on Thursday, November 20th. Eight research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Best Buy presently has an average rating of “Hold” and an average target price of $84.28.

Best Buy Trading Down 2.0%

Shares of BBY stock traded down $1.58 on Friday, reaching $79.40. The company had a trading volume of 2,491,692 shares, compared to its average volume of 3,611,880. The stock has a market cap of $16.68 billion, a PE ratio of 21.93, a PEG ratio of 2.21 and a beta of 1.25. The company has a 50-day moving average of $77.97 and a 200-day moving average of $73.41. The company has a current ratio of 1.04, a quick ratio of 0.36 and a debt-to-equity ratio of 0.43. Best Buy has a 12 month low of $54.99 and a 12 month high of $91.72.

Best Buy (NYSE:BBY) last released its quarterly earnings data on Tuesday, November 25th. The technology retailer reported $1.40 earnings per share for the quarter, topping the consensus estimate of $1.31 by $0.09. Best Buy had a net margin of 1.87% and a return on equity of 47.32%. The business had revenue of $9.67 billion for the quarter, compared to analyst estimates of $9.57 billion. During the same quarter last year, the firm earned $1.26 EPS. Best Buy’s quarterly revenue was up 2.4% compared to the same quarter last year. Best Buy has set its FY 2026 guidance at 6.250-6.350 EPS. On average, equities analysts forecast that Best Buy will post 6.18 earnings per share for the current year.

Insider Buying and Selling

In other news, CAO Mathew Watson sold 2,018 shares of the business’s stock in a transaction on Thursday, September 4th. The shares were sold at an average price of $76.76, for a total value of $154,901.68. Following the sale, the chief accounting officer owned 20,132 shares of the company’s stock, valued at $1,545,332.32. The trade was a 9.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Chairman Richard M. Schulze sold 74,553 shares of the firm’s stock in a transaction on Thursday, October 30th. The shares were sold at an average price of $84.31, for a total transaction of $6,285,563.43. Following the completion of the transaction, the chairman directly owned 11,451,911 shares of the company’s stock, valued at approximately $965,510,616.41. This trade represents a 0.65% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 1,733,111 shares of company stock worth $141,293,157 over the last quarter. 0.47% of the stock is owned by corporate insiders.

Institutional Trading of Best Buy

Several institutional investors and hedge funds have recently bought and sold shares of BBY. Cetera Investment Advisers increased its position in shares of Best Buy by 2.9% during the 1st quarter. Cetera Investment Advisers now owns 73,139 shares of the technology retailer’s stock worth $5,384,000 after purchasing an additional 2,081 shares during the last quarter. HB Wealth Management LLC grew its stake in shares of Best Buy by 2.4% in the first quarter. HB Wealth Management LLC now owns 6,348 shares of the technology retailer’s stock valued at $467,000 after buying an additional 149 shares in the last quarter. LPL Financial LLC increased its holdings in Best Buy by 11.1% during the first quarter. LPL Financial LLC now owns 130,074 shares of the technology retailer’s stock worth $9,575,000 after buying an additional 12,999 shares during the last quarter. Mackenzie Financial Corp raised its position in Best Buy by 27.1% during the first quarter. Mackenzie Financial Corp now owns 68,988 shares of the technology retailer’s stock worth $5,078,000 after acquiring an additional 14,714 shares in the last quarter. Finally, XTX Topco Ltd acquired a new stake in Best Buy in the first quarter valued at $1,533,000. Institutional investors own 80.96% of the company’s stock.

Best Buy Company Profile

Best Buy Co, Inc engages in the retail of technology products in the United States, Canada, and international. Its stores provide computing and mobile phone 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 products, portable audio comprising headphones and portable speakers, and smart home products, as well as home theaters, which includes home theater accessories, soundbars, and televisions.