Bed Bath & Beyond’s (BBBY) “Neutral” Rating Reiterated at UBS AG

Bed Bath & Beyond Inc. (NASDAQ:BBBY)‘s stock had its “neutral” rating reiterated by equities researchers at UBS AG in a report released on Thursday, 99wallstreet.com reports. They presently have a $30.00 target price on the retailer’s stock, down from their previous target price of $33.00. UBS AG’s price objective indicates a potential upside of 1.66% from the company’s current price.

Other equities research analysts have also issued reports about the stock. Oppenheimer Holdings, Inc. reaffirmed a “hold” rating on shares of Bed Bath & Beyond in a report on Saturday, June 24th. Morgan Stanley set a $30.00 price objective on shares of Bed Bath & Beyond and gave the company a “sell” rating in a report on Saturday, June 24th. Wedbush set a $30.00 price objective on shares of Bed Bath & Beyond and gave the company a “hold” rating in a report on Saturday, June 24th. Bank of America Corporation set a $27.00 price objective on shares of Bed Bath & Beyond and gave the company a “sell” rating in a report on Saturday, June 24th. Finally, Argus reaffirmed a “buy” rating and set a $40.00 price objective (down from $48.00) on shares of Bed Bath & Beyond in a report on Wednesday, June 28th. Nine investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and two have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $34.94.

Shares of Bed Bath & Beyond (NASDAQ:BBBY) traded down 1.83% during midday trading on Thursday, hitting $28.96. 2,377,197 shares of the stock were exchanged. The firm has a market cap of $4.07 billion, a PE ratio of 6.66 and a beta of 1.11. The firm’s 50-day moving average is $28.58 and its 200 day moving average is $34.09. Bed Bath & Beyond has a 52-week low of $26.96 and a 52-week high of $48.83.

Bed Bath & Beyond (NASDAQ:BBBY) last announced its quarterly earnings data on Thursday, June 22nd. The retailer reported $0.58 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.08). Bed Bath & Beyond had a net margin of 5.22% and a return on equity of 24.38%. The company had revenue of $2.74 billion for the quarter, compared to analysts’ expectations of $2.79 billion. During the same period last year, the business earned $0.80 earnings per share. The company’s quarterly revenue was up .1% compared to the same quarter last year. On average, analysts forecast that Bed Bath & Beyond will post $4.02 earnings per share for the current year.

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Large investors have recently added to or reduced their stakes in the company. Quantbot Technologies LP bought a new stake in shares of Bed Bath & Beyond during the first quarter worth $106,000. Bronfman E.L. Rothschild L.P. lifted its position in shares of Bed Bath & Beyond by 928.4% during the second quarter. Bronfman E.L. Rothschild L.P. now owns 3,836 shares of the retailer’s stock worth $117,000 after purchasing an additional 3,463 shares during the last quarter. Westside Investment Management Inc. lifted its position in shares of Bed Bath & Beyond by 15.0% during the first quarter. Westside Investment Management Inc. now owns 3,370 shares of the retailer’s stock worth $127,000 after purchasing an additional 440 shares during the last quarter. First Quadrant L P CA bought a new stake in shares of Bed Bath & Beyond during the second quarter worth $141,000. Finally, Ameritas Investment Partners Inc. bought a new stake in shares of Bed Bath & Beyond during the first quarter worth $146,000. Institutional investors and hedge funds own 93.35% of the company’s stock.

About Bed Bath & Beyond

Bed Bath & Beyond Inc is a retailer, which operates under the names Bed Bath & Beyond (BBB), Christmas Tree Shops, Christmas Tree Shops andThat! or andThat! (collectively, CTS), Harmon or Harmon Face Values (collectively, Harmon), buybuy BABY (Baby) and World Market, Cost Plus World Market or Cost Plus (collectively, Cost Plus World Market).

Analyst Recommendations for Bed Bath & Beyond (NASDAQ:BBBY)

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