Best Buy Co., Inc. (BBY) Rating Reiterated by Deutsche Bank AG

Best Buy Co., Inc. (NYSE:BBY)‘s stock had its “buy” rating reiterated by Deutsche Bank AG in a report released on Thursday. They presently have a $58.00 price target on the technology retailer’s stock. Deutsche Bank AG’s target price indicates a potential downside of 1.04% from the company’s previous close.

Several other equities analysts have also commented on the stock. Piper Jaffray Companies reiterated a “buy” rating and set a $71.00 price objective on shares of Best Buy Co. in a research report on Friday, September 1st. Wedbush reiterated a “buy” rating and set a $33.00 price objective (up previously from $29.00) on shares of Best Buy Co. in a research report on Thursday, August 31st. UBS AG reiterated a “buy” rating and set a $60.00 price objective (down previously from $62.00) on shares of Best Buy Co. in a research report on Thursday, August 31st. SunTrust Banks, Inc. reiterated a “buy” rating on shares of Best Buy Co. in a research report on Thursday, August 31st. Finally, Loop Capital reiterated a “buy” rating and set a $72.00 price objective on shares of Best Buy Co. in a research report on Thursday, August 31st. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Best Buy Co. presently has a consensus rating of “Buy” and a consensus target price of $58.92.

Shares of Best Buy Co. (NYSE:BBY) opened at 58.61 on Thursday. The firm has a 50-day moving average of $58.80 and a 200 day moving average of $53.65. The company has a market capitalization of $17.54 billion, a P/E ratio of 15.51 and a beta of 1.48. Best Buy Co. has a 1-year low of $37.10 and a 1-year high of $63.32.

Best Buy Co. (NYSE:BBY) last posted its earnings results on Tuesday, August 29th. The technology retailer reported $0.69 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.63 by $0.06. Best Buy Co. had a net margin of 3.00% and a return on equity of 27.41%. The company had revenue of $8.94 billion during the quarter, compared to analysts’ expectations of $8.67 billion. During the same period last year, the company posted $0.57 earnings per share. Best Buy Co.’s quarterly revenue was up 4.8% on a year-over-year basis. On average, analysts anticipate that Best Buy Co. will post $4.05 EPS for the current year.

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In other Best Buy Co. news, General Counsel Keith J. Nelsen sold 2,433 shares of the firm’s stock in a transaction dated Monday, August 21st. The shares were sold at an average price of $59.92, for a total transaction of $145,785.36. Following the transaction, the general counsel now owns 66,873 shares of the company’s stock, valued at approximately $4,007,030.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Corie S. Barry sold 787 shares of the firm’s stock in a transaction dated Monday, August 21st. The shares were sold at an average price of $59.92, for a total transaction of $47,157.04. Following the transaction, the chief financial officer now directly owns 54,159 shares in the company, valued at approximately $3,245,207.28. The disclosure for this sale can be found here. Insiders have sold a total of 152,328 shares of company stock worth $8,436,505 in the last three months. Insiders own 1.21% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the business. FNY Managed Accounts LLC increased its position in Best Buy Co. by 18,281.8% during the 2nd quarter. FNY Managed Accounts LLC now owns 2,000 shares of the technology retailer’s stock valued at $114,000 after purchasing an additional 2,011 shares during the period. Huntington National Bank increased its position in Best Buy Co. by 18.4% during the 2nd quarter. Huntington National Bank now owns 2,050 shares of the technology retailer’s stock valued at $118,000 after purchasing an additional 318 shares during the period. Heritage Trust Co purchased a new position in Best Buy Co. during the 1st quarter valued at about $137,000. TrimTabs Asset Management LLC increased its position in Best Buy Co. by 89.1% during the 1st quarter. TrimTabs Asset Management LLC now owns 2,819 shares of the technology retailer’s stock valued at $139,000 after purchasing an additional 1,328 shares during the period. Finally, Exane Derivatives increased its position in Best Buy Co. by 65.5% during the 2nd quarter. Exane Derivatives now owns 2,553 shares of the technology retailer’s stock valued at $146,000 after purchasing an additional 1,010 shares during the period. 86.46% of the stock is currently owned by institutional investors and hedge funds.

Best Buy Co. Company Profile

Best Buy Co, Inc is a provider of technology products, services and solutions. The Company offers products and services to the customers visiting its stores, engaging with Geek Squad agents, or using its Websites or mobile applications. It has operations in the United States, Canada and Mexico. The Company operates through two segments: Domestic and International.

Analyst Recommendations for Best Buy Co. (NYSE:BBY)

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