Deutsche Bank Reiterates Buy Rating for Best Buy (BBY)

Best Buy (NYSE:BBY)‘s stock had its “buy” rating reissued by research analysts at Deutsche Bank in a research report issued to clients and investors on Friday, The Fly reports.

Several other brokerages have also commented on BBY. Zacks Investment Research lowered shares of Best Buy from a “buy” rating to a “hold” rating in a research note on Thursday, October 4th. Bank of America lowered shares of Best Buy from a “neutral” rating to an “underperform” rating and dropped their price target for the stock from $70.00 to $50.00 in a research note on Monday, December 17th. Jefferies Financial Group set a $70.00 price target on shares of Best Buy and gave the stock a “hold” rating in a research note on Wednesday, November 21st. Morgan Stanley dropped their price target on shares of Best Buy from $80.00 to $75.00 and set an “equal weight” rating on the stock in a research note on Friday, November 23rd. Finally, Moffett Nathanson upgraded shares of Best Buy from a “sell” rating to a “neutral” rating in a research note on Wednesday, December 19th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and five have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $75.81.

Shares of NYSE:BBY opened at $56.87 on Friday. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.10 and a quick ratio of 0.28. The company has a market capitalization of $15.56 billion, a P/E ratio of 12.87, a PEG ratio of 1.02 and a beta of 1.18. Best Buy has a 52 week low of $47.72 and a 52 week high of $84.37.

Best Buy (NYSE:BBY) last released its quarterly earnings data on Tuesday, November 20th. The technology retailer reported $0.93 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.85 by $0.08. The firm had revenue of $9.59 billion for the quarter, compared to analyst estimates of $9.56 billion. Best Buy had a net margin of 2.52% and a return on equity of 44.41%. The company’s revenue for the quarter was up 2.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.78 EPS. On average, research analysts expect that Best Buy will post 5.18 earnings per share for the current year.

In other Best Buy news, CFO Corie S. Barry sold 6,783 shares of the stock in a transaction on Friday, October 19th. The shares were sold at an average price of $72.80, for a total value of $493,802.40. Following the completion of the sale, the chief financial officer now directly owns 80,961 shares of the company’s stock, valued at approximately $5,893,960.80. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.75% of the stock is owned by corporate insiders.

Institutional investors have recently modified their holdings of the business. State of Alaska Department of Revenue lifted its holdings in shares of Best Buy by 4.5% during the 4th quarter. State of Alaska Department of Revenue now owns 53,270 shares of the technology retailer’s stock worth $2,819,000 after acquiring an additional 2,294 shares during the period. CENTRAL TRUST Co lifted its holdings in shares of Best Buy by 7.4% during the 4th quarter. CENTRAL TRUST Co now owns 8,485 shares of the technology retailer’s stock worth $449,000 after acquiring an additional 585 shares during the period. Paradigm Asset Management Co. LLC lifted its holdings in shares of Best Buy by 3.7% during the 3rd quarter. Paradigm Asset Management Co. LLC now owns 9,850 shares of the technology retailer’s stock worth $782,000 after acquiring an additional 350 shares during the period. Marshall Wace North America L.P. lifted its holdings in shares of Best Buy by 103.9% during the 3rd quarter. Marshall Wace North America L.P. now owns 129,274 shares of the technology retailer’s stock worth $10,259,000 after acquiring an additional 65,881 shares during the period. Finally, Morgan Stanley lifted its holdings in shares of Best Buy by 12.0% during the 3rd quarter. Morgan Stanley now owns 1,921,248 shares of the technology retailer’s stock worth $152,472,000 after acquiring an additional 206,388 shares during the period. 84.48% of the stock is owned by hedge funds and other institutional investors.

Best Buy Company Profile

Best Buy Co, Inc operates as a retailer of technology products, services, and solutions in the United States, Canada, and Mexico. The company operates in two segments, Domestic and International. Its stores provide consumer electronics, including digital imaging, health and fitness, home automation, home theater, and portable audio products; computing and mobile phones, such as computing and peripherals, networking products, tablets, smart watches, and e-readers, as well as mobile phones comprising related mobile network carrier commissions; and entertainment products, including drones, movies, music, and technology toys, as well as gaming hardware and software, and virtual reality and other software products.

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Analyst Recommendations for Best Buy (NYSE:BBY)

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