Best Buy’s (BBY) Sector Weight Rating Reaffirmed at KeyCorp

Best Buy (NYSE:BBY)‘s stock had its “sector weight” rating reaffirmed by analysts at KeyCorp in a report released on Wednesday,Benzinga reports.

A number of other analysts have also recently commented on the company. JPMorgan Chase & Co. dropped their price objective on Best Buy from $115.00 to $110.00 and set an “overweight” rating for the company in a research report on Wednesday. UBS Group reissued a “buy” rating on shares of Best Buy in a research report on Friday. Wedbush reissued a “neutral” rating and set a $90.00 price objective on shares of Best Buy in a research note on Monday. Wells Fargo & Company reaffirmed an “equal weight” rating on shares of Best Buy in a research note on Friday. Finally, Guggenheim reduced their price target on Best Buy from $105.00 to $90.00 and set a “buy” rating on the stock in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $97.67.

Best Buy Price Performance

Shares of Best Buy stock traded up $0.61 on Wednesday, hitting $75.81. The company’s stock had a trading volume of 830,470 shares, compared to its average volume of 2,795,976. The company has a quick ratio of 0.22, a current ratio of 1.00 and a debt-to-equity ratio of 0.37. The firm has a fifty day moving average price of $86.20 and a 200-day moving average price of $90.62. Best Buy has a 52-week low of $69.29 and a 52-week high of $103.71. The company has a market capitalization of $16.21 billion, a P/E ratio of 12.92, a price-to-earnings-growth ratio of 2.10 and a beta of 1.43.

Best Buy (NYSE:BBY) last issued its quarterly earnings data on Tuesday, March 4th. The technology retailer reported $2.58 earnings per share for the quarter, topping analysts’ consensus estimates of $2.40 by $0.18. Best Buy had a net margin of 3.01% and a return on equity of 45.93%. The business had revenue of $13.95 billion during the quarter, compared to analysts’ expectations of $13.69 billion. During the same period last year, the company posted $2.72 EPS. On average, equities research analysts expect that Best Buy will post 6.18 earnings per share for the current fiscal year.

Insider Buying and Selling at Best Buy

In related news, CFO Matthew M. Bilunas sold 69,166 shares of Best Buy stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $87.46, for a total transaction of $6,049,258.36. Following the sale, the chief financial officer now owns 92,070 shares of the company’s stock, valued at $8,052,442.20. The trade was a 42.90 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.59% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Rakuten Securities Inc. raised its position in shares of Best Buy by 971.9% in the 4th quarter. Rakuten Securities Inc. now owns 343 shares of the technology retailer’s stock valued at $29,000 after purchasing an additional 311 shares in the last quarter. Vermillion Wealth Management Inc. acquired a new stake in Best Buy in the fourth quarter valued at $31,000. Golden State Wealth Management LLC bought a new position in Best Buy during the 4th quarter valued at $32,000. Atlas Capital Advisors Inc. boosted its stake in Best Buy by 186.9% during the 4th quarter. Atlas Capital Advisors Inc. now owns 373 shares of the technology retailer’s stock valued at $32,000 after acquiring an additional 243 shares during the last quarter. Finally, Ancora Advisors LLC grew its holdings in Best Buy by 18,700.0% during the 4th quarter. Ancora Advisors LLC now owns 376 shares of the technology retailer’s stock worth $32,000 after acquiring an additional 374 shares in the last quarter. Hedge funds and other institutional investors own 80.96% of the company’s stock.

About Best Buy

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.