Analysts Set Bed Bath & Beyond, Inc. (NYSE:BBBY) Price Target at $7.00

Shares of Bed Bath & Beyond, Inc. (NYSE:BBBY) have been given an average rating of “Hold” by the six brokerages that are presently covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and one has assigned a buy recommendation to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $7.00.

A number of brokerages recently issued reports on BBBY. Wedbush decreased their price objective on Bed Bath & Beyond from $13.00 to $7.00 and set an “outperform” rating for the company in a report on Wednesday, February 18th. Piper Sandler set a $8.00 price objective on Bed Bath & Beyond and gave the stock a “neutral” rating in a report on Tuesday, February 24th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Bed Bath & Beyond in a report on Wednesday, January 21st.

Bed Bath & Beyond Price Performance

Shares of BBBY stock opened at $4.93 on Friday. Bed Bath & Beyond has a 12-month low of $3.60 and a 12-month high of $12.65. The firm has a market capitalization of $341.85 million, a price-to-earnings ratio of -3.40 and a beta of 3.01. The business has a 50 day simple moving average of $4.96 and a 200 day simple moving average of $6.35.

Bed Bath & Beyond (NYSE:BBBY) last issued its quarterly earnings data on Monday, February 23rd. The company reported ($0.16) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.23) by $0.07. Bed Bath & Beyond had a negative return on equity of 33.44% and a negative net margin of 8.10%.The business had revenue of $273.43 million during the quarter. On average, equities analysts anticipate that Bed Bath & Beyond will post -3.75 EPS for the current fiscal year.

Insider Transactions at Bed Bath & Beyond

In other news, Director Joseph J. Tabacco, Jr. purchased 20,000 shares of the firm’s stock in a transaction on Tuesday, March 10th. The stock was purchased at an average cost of $5.11 per share, with a total value of $102,200.00. Following the purchase, the director owned 167,209 shares in the company, valued at $854,437.99. This trade represents a 13.59% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 1.80% of the company’s stock.

Hedge Funds Weigh In On Bed Bath & Beyond

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BBBY. AQR Capital Management LLC boosted its stake in Bed Bath & Beyond by 217.4% during the 1st quarter. AQR Capital Management LLC now owns 131,501 shares of the company’s stock valued at $763,000 after purchasing an additional 90,076 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Bed Bath & Beyond by 30.9% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 66,512 shares of the company’s stock valued at $386,000 after purchasing an additional 15,707 shares in the last quarter. Strs Ohio bought a new position in Bed Bath & Beyond during the 1st quarter valued at $151,000. Rhumbline Advisers boosted its stake in Bed Bath & Beyond by 38.9% during the 2nd quarter. Rhumbline Advisers now owns 97,453 shares of the company’s stock valued at $670,000 after purchasing an additional 27,286 shares in the last quarter. Finally, Sei Investments Co. bought a new position in Bed Bath & Beyond during the 2nd quarter valued at $378,000. 76.30% of the stock is owned by institutional investors.

About Bed Bath & Beyond

Bed Bath & Beyond Inc (NYSE:BBBY) was a leading home goods retailer offering a broad assortment of domestics merchandise, including bed linens, bath accessories, kitchenware, home décor and small appliances. Through its flagship Bed Bath & Beyond stores and affiliated banners, the company provided both in-store and online shopping experiences, catering to a wide range of household needs from everyday essentials to specialized nursery and wellness products.

The company was founded in 1971 by Leonard Feinstein and Warren Eisenberg and was headquartered in Union, New Jersey.