Barclays Lowers Best Buy (NYSE:BBY) Price Target to $89.00

Best Buy (NYSE:BBY) had its price target decreased by analysts at Barclays from $95.00 to $89.00 in a report released on Thursday,Benzinga reports. The firm currently has an “equal weight” rating on the technology retailer’s stock. Barclays‘s price objective would suggest a potential upside of 5.63% from the company’s current price.

Other research analysts have also issued research reports about the stock. StockNews.com lowered shares of Best Buy from a “buy” rating to a “hold” rating in a research note on Friday, November 15th. UBS Group decreased their price target on shares of Best Buy from $123.00 to $115.00 and set a “buy” rating for the company in a report on Wednesday, November 27th. JPMorgan Chase & Co. raised their price objective on Best Buy from $111.00 to $117.00 and gave the stock an “overweight” rating in a research note on Friday, November 22nd. Telsey Advisory Group decreased their target price on Best Buy from $115.00 to $110.00 and set an “outperform” rating for the company in a research note on Tuesday, November 26th. Finally, Citigroup dropped their price target on Best Buy from $109.00 to $101.00 and set a “buy” rating on the stock in a research report on Wednesday, November 27th. One analyst has rated the stock with a sell rating, eight have given a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $100.72.

Best Buy Trading Down 0.0 %

BBY traded down $0.02 during trading on Thursday, reaching $84.26. 2,207,852 shares of the company’s stock were exchanged, compared to its average volume of 2,421,037. The company’s fifty day moving average price is $88.25 and its 200-day moving average price is $90.23. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.22 and a current ratio of 1.00. The firm has a market capitalization of $18.01 billion, a PE ratio of 14.40, a P/E/G ratio of 2.19 and a beta of 1.43. Best Buy has a fifty-two week low of $69.29 and a fifty-two week high of $103.71.

Best Buy (NYSE:BBY) last announced its quarterly earnings data on Tuesday, November 26th. The technology retailer reported $1.26 EPS for the quarter, missing analysts’ consensus estimates of $1.30 by ($0.04). Best Buy had a return on equity of 45.93% and a net margin of 3.01%. The company had revenue of $9.45 billion for the quarter, compared to analyst estimates of $9.63 billion. During the same period last year, the firm earned $1.29 earnings per share. The firm’s revenue for the quarter was down 3.2% on a year-over-year basis. As a group, equities analysts forecast that Best Buy will post 6.18 EPS for the current year.

Insider Buying and Selling at Best Buy

In other Best Buy news, CFO Matthew M. Bilunas sold 69,166 shares of the firm’s stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $87.46, for a total value of $6,049,258.36. Following the completion of the transaction, the chief financial officer now directly owns 92,070 shares in the company, valued at $8,052,442.20. This trade represents a 42.90 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.59% of the company’s stock.

Institutional Investors Weigh In On Best Buy

Several large investors have recently made changes to their positions in BBY. Private Advisor Group LLC raised its stake in Best Buy by 94.9% in the second quarter. Private Advisor Group LLC now owns 5,829 shares of the technology retailer’s stock valued at $491,000 after buying an additional 2,839 shares during the period. PFG Investments LLC acquired a new stake in Best Buy during the 2nd quarter valued at $475,000. Choreo LLC boosted its position in Best Buy by 171.1% during the second quarter. Choreo LLC now owns 8,859 shares of the technology retailer’s stock worth $731,000 after purchasing an additional 5,591 shares during the period. Dorsey & Whitney Trust CO LLC increased its holdings in shares of Best Buy by 110.3% in the second quarter. Dorsey & Whitney Trust CO LLC now owns 9,446 shares of the technology retailer’s stock valued at $796,000 after purchasing an additional 4,955 shares during the last quarter. Finally, Royal London Asset Management Ltd. raised its position in shares of Best Buy by 4.8% in the second quarter. Royal London Asset Management Ltd. now owns 80,427 shares of the technology retailer’s stock valued at $6,779,000 after purchasing an additional 3,699 shares during the period. Institutional investors and hedge funds own 80.96% of the company’s stock.

Best Buy Company Profile

Best Buy Co, Inc engages in the retail of technology products in the United States, Canada, and international. Its stores provide computing and mobile phone products, such as desktops, notebooks, and peripherals; mobile phones comprising related mobile network carrier commissions; networking products; tablets covering e-readers; smartwatches; and consumer electronics consisting of digital imaging, health and fitness products, portable audio comprising headphones and portable speakers, and smart home products, as well as home theaters, which includes home theater accessories, soundbars, and televisions.