Evercore ISI Has Lowered Expectations for Best Buy (NYSE:BBY) Stock Price

Best Buy (NYSE:BBY) had its price objective cut by equities researchers at Evercore ISI from $80.00 to $70.00 in a note issued to investors on Tuesday,Benzinga reports. The firm presently has an “in-line” rating on the technology retailer’s stock. Evercore ISI’s price objective suggests a potential upside of 6.29% from the stock’s previous close.

Several other equities analysts have also issued reports on the company. Citigroup lifted their price target on Best Buy from $73.00 to $82.00 and gave the stock a “neutral” rating in a research report on Friday, November 7th. Loop Capital upped their target price on shares of Best Buy from $80.00 to $85.00 and gave the stock a “buy” rating in a research note on Tuesday, November 25th. The Goldman Sachs Group reduced their price target on shares of Best Buy from $95.00 to $93.00 and set a “buy” rating for the company in a research report on Wednesday, November 26th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Best Buy in a research report on Wednesday, January 21st. Finally, Jefferies Financial Group decreased their price target on Best Buy from $95.00 to $94.00 and set a “buy” rating for the company in a research note on Tuesday, November 25th. Eight analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Best Buy has an average rating of “Hold” and an average price target of $81.63.

Best Buy Price Performance

Shares of BBY stock opened at $65.86 on Tuesday. The business’s fifty day moving average is $70.64 and its 200 day moving average is $73.26. The company has a quick ratio of 0.26, a current ratio of 1.05 and a debt-to-equity ratio of 0.44. The stock has a market cap of $13.80 billion, a price-to-earnings ratio of 21.81, a PEG ratio of 1.65 and a beta of 1.41. Best Buy has a twelve month low of $54.99 and a twelve month high of $91.68.

Best Buy (NYSE:BBY) last issued its quarterly earnings results on Tuesday, November 25th. The technology retailer reported $1.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.31 by $0.09. Best Buy had a net margin of 1.54% and a return on equity of 50.02%. The company had revenue of $9.67 billion during the quarter, compared to analysts’ expectations of $9.57 billion. During the same period last year, the company posted $1.26 EPS. Best Buy’s revenue was up 2.4% on a year-over-year basis. Best Buy has set its FY 2026 guidance at 6.250-6.350 EPS. Research analysts expect that Best Buy will post 6.18 EPS for the current fiscal year.

Institutional Trading of Best Buy

Institutional investors and hedge funds have recently modified their holdings of the company. AQR Capital Management LLC increased its stake in shares of Best Buy by 99.8% during the third quarter. AQR Capital Management LLC now owns 6,997,871 shares of the technology retailer’s stock valued at $525,120,000 after buying an additional 3,496,254 shares during the period. Norges Bank purchased a new position in shares of Best Buy in the 2nd quarter worth approximately $171,851,000. KBC Group NV grew its holdings in Best Buy by 293.6% in the fourth quarter. KBC Group NV now owns 1,052,805 shares of the technology retailer’s stock worth $70,464,000 after purchasing an additional 785,294 shares during the last quarter. Pacer Advisors Inc. boosted its position in shares of Best Buy by 61.9% in the 3rd quarter. Pacer Advisors Inc. now owns 1,998,886 shares of the technology retailer’s stock worth $151,156,000 after purchasing an additional 764,064 shares in the last quarter. Finally, Balyasny Asset Management L.P. purchased a new stake in shares of Best Buy during the third quarter worth about $55,475,000. 80.96% of the stock is currently owned by institutional investors.

Best Buy Company Profile

Best Buy Co, Inc is a leading North American consumer electronics retailer that sells a broad range of products including computers, mobile phones, televisions and home theater systems, major appliances, smart-home devices, gaming hardware and software, wearables and related accessories. The company operates through a mix of large-format stores, smaller specialty locations and an e-commerce platform, offering national and private-brand merchandise from major consumer-technology manufacturers as well as third-party sellers.

Beyond product retailing, Best Buy provides a suite of services aimed at installation, repair and ongoing technical support.