Bed Bath & Beyond (NASDAQ:BBBY) Shares Up 6.5%

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.

Bed Bath & Beyond (NASDAQ:BBBY) last announced its quarterly earnings data on Wednesday, January 6th. The retailer reported $0.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.11). Bed Bath & Beyond had a negative net margin of 2.32% and a negative return on equity of 7.80%. The business had revenue of $2.62 billion during the quarter, compared to analyst estimates of $2.74 billion. During the same quarter in the prior year, the company posted ($0.38) EPS. The company’s quarterly revenue was down 5.1% compared to the same quarter last year. On average, equities research analysts expect that Bed Bath & Beyond Inc. will post -1.1 earnings per share for the current fiscal year.

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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