Shares of Bed Bath & Beyond Inc. (NASDAQ:BBBY) shot up 6.5% during trading on Thursday . The stock traded as high as $30.27 and last traded at $30.15. 104,863 shares traded hands during mid-day trading, a decline of 99% from the average session volume of 12,266,983 shares. The stock had previously closed at $28.31.
BBBY has been the subject of a number of analyst reports. Standpoint Research cut shares of Bed Bath & Beyond from a “buy” rating to a “hold” rating in a research note on Wednesday, January 27th. Loop Capital boosted their price objective on shares of Bed Bath & Beyond from $18.00 to $30.00 and gave the stock a “hold” rating in a research note on Monday, January 25th. Telsey Advisory Group cut shares of Bed Bath & Beyond from an “outperform” rating to a “market perform” rating and boosted their price objective for the stock from $27.00 to $40.00 in a research note on Thursday, January 28th. They noted that the move was a valuation call. Zacks Investment Research upgraded shares of Bed Bath & Beyond from a “sell” rating to a “hold” rating and set a $31.00 price objective for the company in a research note on Thursday, February 11th. Finally, Raymond James cut shares of Bed Bath & Beyond from a “strong-buy” rating to a “market perform” rating in a research note on Tuesday, January 26th. Four analysts have rated the stock with a sell rating, eleven have given a hold rating and three have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $24.33.
The company has a market cap of $3.66 billion, a price-to-earnings ratio of -16.39 and a beta of 2.10. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.81 and a current ratio of 1.46. The business’s 50 day moving average price is $28.76 and its 200-day moving average price is $23.74.
Hedge funds have recently made changes to their positions in the company. Koshinski Asset Management Inc. acquired a new position in shares of Bed Bath & Beyond in the 4th quarter valued at $284,000. Vantage Consulting Group Inc bought a new stake in shares of Bed Bath & Beyond in the 4th quarter worth about $25,000. Signaturefd LLC bought a new stake in shares of Bed Bath & Beyond in the 4th quarter worth about $43,000. Twin Tree Management LP bought a new stake in shares of Bed Bath & Beyond in the 4th quarter worth about $60,000. Finally, Daiwa Securities Group Inc. bought a new stake in shares of Bed Bath & Beyond in the 4th quarter worth about $75,000.
Bed Bath & Beyond Company Profile (NASDAQ:BBBY)
Bed Bath & Beyond Inc, together with its subsidiaries, operates a chain of retail stores. The company sells a range of domestics merchandise, including bed linens and related items, bath items, and kitchen textiles; and home furnishings, such as kitchen and tabletop items, fine tabletop, basic housewares, general home furnishings, consumables, and various juvenile products.
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