Best Buy (BBY) Coverage Initiated by Analysts at Moffett Nathanson

Investment analysts at Moffett Nathanson started coverage on shares of Best Buy (NYSE:BBY) in a research report issued to clients and investors on Monday, December 4th, MarketBeat Ratings reports. The brokerage set a “sell” rating on the technology retailer’s stock.

A number of other equities analysts also recently weighed in on BBY. Jefferies Group reaffirmed a “hold” rating and set a $60.00 price target on shares of Best Buy in a research report on Wednesday, August 9th. Loop Capital reaffirmed a “buy” rating and set a $72.00 price target on shares of Best Buy in a report on Wednesday, August 16th. Piper Jaffray Companies reaffirmed a “buy” rating and set a $70.00 price target on shares of Best Buy in a report on Wednesday, August 23rd. BidaskClub raised Best Buy from a “buy” rating to a “strong-buy” rating in a report on Thursday, August 24th. Finally, Barclays reiterated a “buy” rating and set a $65.00 price objective on shares of Best Buy in a research report on Monday, August 28th. Four investment analysts have rated the stock with a sell rating, six have issued a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $58.81.

Shares of Best Buy (NYSE BBY) traded up $0.05 during mid-day trading on Monday, hitting $68.47. The stock had a trading volume of 2,045,000 shares, compared to its average volume of 3,587,544. Best Buy has a one year low of $41.67 and a one year high of $68.98. The company has a current ratio of 1.25, a quick ratio of 0.52 and a debt-to-equity ratio of 0.19. The company has a market cap of $20,000.98, a PE ratio of 17.29, a PEG ratio of 1.45 and a beta of 1.40.

Best Buy (NYSE:BBY) last posted its earnings results on Thursday, November 16th. The technology retailer reported $0.78 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.78. Best Buy had a return on equity of 28.46% and a net margin of 3.09%. The business had revenue of $9.32 billion during the quarter, compared to analysts’ expectations of $9.36 billion. During the same period in the prior year, the business earned $0.60 EPS. Best Buy’s revenue for the quarter was up 4.2% compared to the same quarter last year. analysts anticipate that Best Buy will post 4 EPS for the current year.

In other Best Buy news, CFO Corie S. Barry sold 3,134 shares of Best Buy 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Richard M. Schulze sold 1,000,000 shares of Best Buy stock in a transaction that occurred on Wednesday, November 29th. The stock was sold at an average price of $58.80, for a total value of $58,800,000.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 3,137,387 shares of company stock valued at $191,242,577. 1.21% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. FNY Managed Accounts LLC grew its holdings in Best Buy by 18,281.8% during the second quarter. FNY Managed Accounts LLC now owns 2,000 shares of the technology retailer’s stock worth $114,000 after buying an additional 2,011 shares in the last quarter. Fieldpoint Private Securities LLC bought a new stake in Best Buy during the third quarter worth $139,000. Northwestern Mutual Wealth Management Co. grew its holdings in Best Buy by 6.2% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,774 shares of the technology retailer’s stock worth $159,000 after buying an additional 163 shares in the last quarter. Smithfield Trust Co. bought a new stake in Best Buy during the third quarter worth $178,000. Finally, Keybank National Association OH bought a new stake in Best Buy during the second quarter worth $200,000. Hedge funds and other institutional investors own 88.45% of the company’s stock.

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Best Buy Company Profile

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.

Analyst Recommendations for Best Buy (NYSE:BBY)

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