Bed Bath & Beyond (NYSE:BBBY) Price Target Raised to $10.00 at Wedbush

Bed Bath & Beyond (NYSE:BBBY) had its target price increased by equities researchers at Wedbush from $8.00 to $10.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Wedbush’s target price points to a potential upside of 70.21% from the stock’s previous close.

A number of other brokerages also recently commented on BBBY. Piper Sandler set a $8.00 price objective on shares of Bed Bath & Beyond and gave the company a “neutral” rating in a research report on Tuesday, February 24th. Weiss Ratings cut Bed Bath & Beyond from a “sell (d-)” rating to a “sell (e+)” rating in a report on Monday, May 4th. One investment analyst has rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $8.67.

Bed Bath & Beyond Stock Performance

BBBY opened at $5.88 on Tuesday. Bed Bath & Beyond has a 52-week low of $4.26 and a 52-week high of $12.65. The firm has a market capitalization of $434.39 million, a PE ratio of -6.18 and a beta of 2.86. The business’s 50-day simple moving average is $5.51 and its 200 day simple moving average is $5.59.

Bed Bath & Beyond (NYSE:BBBY) last released its earnings results on Monday, April 27th. The company reported ($0.25) earnings per share for the quarter, beating the consensus estimate of ($0.31) by $0.06. The business had revenue of $248.00 million during the quarter. Bed Bath & Beyond had a negative net margin of 5.76% and a negative return on equity of 27.60%.

Insider Buying and Selling at Bed Bath & Beyond

In other news, Director Joanna M. Burkey sold 9,943 shares of the firm’s 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 owned 32,474 shares in the company, valued at approximately $207,184.12. This trade represents a 23.44% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.80% of the stock is owned by insiders.

Institutional Investors Weigh In On Bed Bath & Beyond

Several hedge funds have recently bought and sold shares of BBBY. Headlands Technologies LLC acquired a new position in shares of Bed Bath & Beyond in the second quarter valued at approximately $33,000. Public Employees Retirement System of Ohio acquired a new stake in Bed Bath & Beyond during the 4th quarter worth approximately $37,000. New York State Common Retirement Fund bought a new stake in Bed Bath & Beyond in the 4th quarter valued at $47,000. Stockman Wealth Management Inc. acquired a new position in Bed Bath & Beyond in the 4th quarter valued at $55,000. Finally, ExodusPoint Capital Management LP bought a new position in Bed Bath & Beyond during the 4th quarter worth $63,000. 76.30% of the stock is currently owned by institutional investors and hedge funds.

Bed Bath & Beyond Company Profile

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.