Experts in equities research at StockNews.com drew the attention of the investing community to the shares of Best Buy in a research note made available to investors on Thursday (NYSE: BBY).
The company advised shareholders to “keep” their positions in the technology retailer’s stock and not sell any of their shares.
The most recent quarterly earnings report for Best Buy, which is traded on the New York Stock Exchange under the symbol BBY, was released on March 2.
The online electronic goods retailer reported $2.61 per share for the quarter, $0.52 more than the consensus estimate of $2.09.
Despite this, the company could only bring in $14.74 billion in revenue during the quarter, even though analysts predicted it would bring in $14.80 billion.
Best Buy had a return on equity of 55.81%, while the company’s net margin came in at 3.06%.
The company’s revenue dropped by 10.0% compared to the level it reached the year before.
The corporation reported a profit of $2.73 per share during the same period the year before when the same period was being analyzed.
According to the forecasts of financial research analysts, Best Buy will bring in a profit of $6.27 per share during the current financial year.
The price of one share of BBY stock was $75.55 when trading started on Thursday.
The company’s moving average over the past 50 days is $84.16, and its moving average over the past 200 days is $77.13, respectively.
There is a possibility that the price at Best Buy will range anywhere from $60.78 to $103.23 over a year.
The company has a beta of 1.51, a price-to-earnings ratio of 12.01, and a price-to-growth ratio of 1.56.
All of these metrics indicate that the company is a good investment.
It is currently valued at $16.72 billion on the market.
In this case, the debt-to-equity ratio is 0.42, the quick ratio is 0.41, and the current ratio is 0.98.
BBY has been the focus of several other investigations that are currently being carried out. Goldman Sachs Group shifted their rating of Best Buy from “sell” to “neutral” and increased their price target from $59.00 to $83.00 in a report made public on Monday, December 12.
This shift occurred directly due to an increase in the price target they had set for the company. Wedbush reaffirmed its “buy” rating on the shares of Best Buy and raised its price objective for the stock from $80.00 to $85.00 in a report published on Wednesday, November 23.
In addition, the price objective for the stock had previously been $80.00.
The rating of “outperform” given to Best Buy by Telsey Advisory Group was changed to “market perform” in a report made public on February 27.
In addition, the target price they had set for the company was reduced from $80.00 to $83.00.
In a report published on March 3, Davidson announced that they would be lowering their target price at Best Buy from $99 to $96.
Even though this had occurred, they continued to recommend “buying” company shares.
Barclays decreased their target price for Best Buy from $80.00 to $80.00 and changed their recommendation for the company from “buy” to “hold” in a study made public on Friday, March 3. One of the equity research analysts has given the stock a rating of buy; nine have suggested that investors keep their current positions; eight have given the stock a rating of buy; and the remaining expert has given the stock a sell rating.
The company has been given an average recommendation of “Hold,” and the price target has been set at $81.44, as shown by the data from Bloomberg.
On December 23, Damien Harmon, Executive Vice President of the company, completed a transaction in which he sold 2,500 shares of company stock.
This is an example of an additional development related to this topic.
The stock was sold for $199,975.00, with the price per share averaging $79.99, and the proceeds were distributed as such.
The executive vice president has ownership interests in 42,805 shares of the company’s stock, which have a combined value of approximately $3,423,971.95. Should you follow this link, you will be taken to the SEC filing in which the transaction was discussed in greater detail.
The company’s management and employees collectively own 0.44% of the company’s total shares of stock.
During the most recent reporting period, institutional investors’ BBY holdings went through a range of motion, including increases and decreases.
A 3.4% increase in the proportion of Best Buy stock that Voya Investment Management LLC owns was accomplished during the company’s fourth fiscal quarter. Voya Investment Management LLC now holds 93,143 shares of the technology retailer’s stock, which have a value of $7,471,000 following the acquisition of 3,053 additional shares during the preceding quarter. Voya Investment Management LLC acquired these shares. WC Walker & Associates INC increased the total number of shares of Best Buy stock owned by 1.7% over the final three months of 2018. Following the purchase of 313 additional shares during the most recent quarter, WC Walker & Associates INC now owns 18,286 shares of the technology retailer’s stock, valued at $1,521,000.
This brings the total number of shares the company has in its possession to 1,521.
IMS Capital Management made a brand new investment in Best Buy for $245,000 over the final three months of 2018.
During the last three months of the year, Linden Thomas Advisory Services LLC made a new investment in Best Buy by purchasing a stake for approximately $975,000.
In the fourth and final quarter of 2018, AllianceBernstein L.P.
Increased the amount of Best Buy stock owned by 1.9 percent.
Alliance Berenstein L.P. now has 311,256 shares of the technology retailer’s stock, currently valued at $24,966,000, after purchasing an additional 5,826 shares during the most recent quarter.
This brings the total number of shares owned by the partnership to 311,256. Currently, institutions hold over 78.48 percent of the total company stock.