Several other equities research analysts have also commented on the stock. KeyCorp reiterated a hold rating on shares of Best Buy Co. in a research report on Friday. Zacks Investment Research downgraded shares of Best Buy Co. from a buy rating to a hold rating in a research note on Monday, October 30th. Loop Capital set a $72.00 target price on shares of Best Buy Co. and gave the company a buy rating in a research note on Tuesday, October 24th. Piper Jaffray Companies reissued a buy rating and issued a $68.00 target price on shares of Best Buy Co. in a research note on Thursday, September 21st. Finally, UBS AG reissued a buy rating and issued a $57.00 target price (down previously from $60.00) on shares of Best Buy Co. in a research note on Wednesday, September 20th. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of Buy and an average price target of $58.97.
Best Buy Co. (NYSE:BBY) traded up $0.29 during trading on Monday, hitting $56.97. 3,958,200 shares of the company traded hands, compared to its average volume of 4,421,985. Best Buy Co. has a 1-year low of $38.56 and a 1-year high of $63.32. The company has a quick ratio of 0.69, a current ratio of 1.42 and a debt-to-equity ratio of 0.30. The stock has a market cap of $16,957.78, a price-to-earnings ratio of 14.68, a PEG ratio of 1.14 and a beta of 1.42.
Best Buy Co. (NYSE:BBY) last released its quarterly earnings data on Tuesday, August 29th. The technology retailer reported $0.69 EPS for the quarter, topping the 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 business had revenue of $8.94 billion for the quarter, compared to analyst estimates of $8.67 billion. During the same period in the previous year, the firm earned $0.57 EPS. The business’s revenue for the quarter was up 4.8% compared to the same quarter last year. research analysts forecast that Best Buy Co. will post 4.06 earnings per share for the current fiscal year.
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In other Best Buy Co. news, CFO Corie S. Barry sold 3,134 shares of the company’s stock in a transaction that occurred on Tuesday, October 3rd. The stock was sold at an average price of $57.26, for a total value of $179,452.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Kathleen Scarlett sold 10,797 shares of the company’s stock in a transaction that occurred on Wednesday, September 20th. The stock was sold at an average price of $52.49, for a total value of $566,734.53. Following the completion of the transaction, the insider now owns 25,690 shares of the company’s stock, valued at approximately $1,348,468.10. The disclosure for this sale can be found here. In the last three months, insiders have sold 166,259 shares of company stock valued at $9,182,693. Corporate insiders own 0.84% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. FNY Managed Accounts LLC boosted its holdings in Best Buy Co. by 18,281.8% in the 2nd quarter. FNY Managed Accounts LLC now owns 2,000 shares of the technology retailer’s stock worth $114,000 after acquiring an additional 2,011 shares during the period. Huntington National Bank boosted its holdings in Best Buy Co. by 18.4% in the 2nd quarter. Huntington National Bank now owns 2,050 shares of the technology retailer’s stock worth $118,000 after acquiring an additional 318 shares during the period. Exane Derivatives boosted its holdings in Best Buy Co. by 65.5% in the 2nd quarter. Exane Derivatives now owns 2,553 shares of the technology retailer’s stock worth $146,000 after acquiring an additional 1,010 shares during the period. Northwestern Mutual Wealth Management Co. boosted its holdings in Best Buy Co. by 6.2% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,774 shares of the technology retailer’s stock worth $159,000 after acquiring an additional 163 shares during the period. Finally, Smithfield Trust Co. purchased a new position in Best Buy Co. in the 3rd quarter worth approximately $178,000. Hedge funds and other institutional investors own 87.52% of the company’s stock.
About Best Buy Co.
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.
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