Wall Street Zen Downgrades Bed Bath & Beyond (NYSE:BBBY) to Sell

Bed Bath & Beyond (NYSE:BBBY) was downgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a report released on Saturday.

A number of other analysts have also weighed in on the stock. Weiss Ratings raised shares of Bed Bath & Beyond from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, July 8th. Wedbush boosted their price target on shares of Bed Bath & Beyond from $8.00 to $10.00 and gave the company an “outperform” rating in a report on Tuesday, June 23rd. Finally, Zacks Research upgraded shares of Bed Bath & Beyond to a “hold” rating in a research note on Wednesday, June 24th. One equities research analyst has rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Bed Bath & Beyond presently has a consensus rating of “Hold” and a consensus target price of $8.67.

Bed Bath & Beyond Trading Down 0.3%

BBBY opened at $4.63 on Friday. The stock’s fifty day moving average is $5.59 and its two-hundred day moving average is $5.40. The company has a market capitalization of $342.05 million, a P/E ratio of -4.06 and a beta of 2.89. Bed Bath & Beyond has a 52 week low of $4.26 and a 52 week high of $12.65. The company has a quick ratio of 0.59, a current ratio of 0.76 and a debt-to-equity ratio of 0.06.

Bed Bath & Beyond (NYSE:BBBY) last issued its earnings results on Tuesday, August 4th. The company reported ($0.53) earnings per share for the quarter, missing the consensus estimate of ($0.30) by ($0.23). Bed Bath & Beyond had a negative return on equity of 37.60% and a negative net margin of 7.13%.The firm had revenue of $361.16 million during the quarter. During the same period last year, the company earned ($0.34) EPS. Analysts forecast that Bed Bath & Beyond will post -0.92 earnings per share for the current year.

Insider Activity at Bed Bath & Beyond

In other Bed Bath & Beyond news, Director Joanna M. Burkey sold 9,943 shares of the stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $6.38, for a total transaction of $63,436.34. Following the completion of the sale, the director directly owned 32,474 shares of the company’s stock, valued at approximately $207,184.12. This represents a 23.44% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 1.80% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of BBBY. Headlands Technologies LLC acquired a new stake in Bed Bath & Beyond in the second quarter valued at approximately $33,000. Public Employees Retirement System of Ohio acquired a new position in shares of Bed Bath & Beyond during the fourth quarter worth $37,000. New York State Common Retirement Fund purchased a new stake in shares of Bed Bath & Beyond during the 4th quarter valued at $47,000. Stockman Wealth Management Inc. purchased a new position in Bed Bath & Beyond during the 4th quarter worth $55,000. Finally, ExodusPoint Capital Management LP purchased a new position in Bed Bath & Beyond during the 4th quarter worth $63,000. Institutional investors own 76.30% of the company’s stock.

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.