Best Buy Co. Inc. [NYSE: BBY] stock went on an upward path that rose over 1.61% on Tuesday, amounting to a one-week price decrease of less than -5.01%. The company report on August 30, 2022 that Best Buy Reports Second Quarter Results.
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Comparable Sales Declined 12.1% Compared to 19.6% Growth in Q2 FY22.
Over the last 12 months, BBY stock dropped by -36.72%. The one-year Best Buy Co. Inc. stock forecast points to a potential upside of 3.8. The average equity rating for BBY stock is currently 2.80, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $17.78 billion, with 226.80 million shares outstanding and 200.85 million shares in the current float. Compared to the average trading volume of 2.95M shares, BBY stock reached a trading volume of 11664671 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Guru’s Opinion on Best Buy Co. Inc. [BBY]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for BBY shares is $77.85 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on BBY stock is a recommendation set at 2.80. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Jefferies have made an estimate for Best Buy Co. Inc. shares, keeping their opinion on the stock as Hold, with their previous recommendation back on July 28, 2022. The new note on the price target was released on June 14, 2022, representing the official price target for Best Buy Co. Inc. stock. Previously, the target price had yet another raise to $80, while Barclays analysts kept a Equal Weight rating on BBY stock. On March 04, 2022, analysts increased their price target for BBY shares from 125 to 130.
The Average True Range (ATR) for Best Buy Co. Inc. is set at 3.07, with the Price to Sales ratio for BBY stock in the period of the last 12 months amounting to 0.35. The Price to Book ratio for the last quarter was 6.14, with the Price to Cash per share for the same quarter was set at 2.70. Price to Free Cash Flow for BBY in the course of the last twelve months was 68.39 with Quick ratio for the last quarter at 0.20.
BBY Stock Performance Analysis:
Best Buy Co. Inc. [BBY] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -5.01. With this latest performance, BBY shares dropped by -2.71% in over the last four-week period, additionally sinking by -22.94% over the last 6 months – not to mention a drop of -36.72% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for BBY stock in for the last two-week period is set at 44.56, with the RSI for the last a single of trading hit 40.37, and the three-weeks RSI is set at 46.54 for Best Buy Co. Inc. [BBY]. The present Moving Average for the last 50 days of trading for this stock 74.83, while it was recorded at 75.71 for the last single week of trading, and 91.21 for the last 200 days.
Insight into Best Buy Co. Inc. Fundamentals:
Operating Margin for any stock indicates how profitable investing would be, and Best Buy Co. Inc. [BBY] shares currently have an operating margin of +5.79 and a Gross Margin at +22.32. Best Buy Co. Inc.’s Net Margin is presently recorded at +4.74.
Return on Equity for this stock inclined to 64.52, with Return on Assets sitting at 13.42.
Best Buy Co. Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.20 and a Current Ratio set at 1.00.
BBY Stock EPS
The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for BBY. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Best Buy Co. Inc. go to 8.00%.
Best Buy Co. Inc. [BBY] Insider Position Details
There are presently around $13,655 million, or 84.50% of BBY stock, in the hands of institutional investors. The top three institutional holders of BBY stocks are: VANGUARD GROUP INC with ownership of 26,030,479, which is approximately -1.359% of the company’s market cap and around 0.50% of the total institutional ownership; BLACKROCK INC., holding 20,596,773 shares of the stock with an approximate value of $1.54 billion in BBY stocks shares; and JPMORGAN CHASE & CO, currently with $884.63 million in BBY stock with ownership of nearly -6.124% of the company’s market capitalization.
Positions in Best Buy Co. Inc. stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 383 institutional holders increased their position in Best Buy Co. Inc. [NYSE:BBY] by around 19,840,828 shares. Additionally, 410 investors decreased positions by around 15,954,483 shares, while 103 investors held positions by with 146,532,631 shares. The mentioned changes placed institutional holdings at 182,327,942 shares, according to the latest SEC report filing. BBY stock had 96 new institutional investments in for a total of 4,820,572 shares, while 120 institutional investors sold positions of 3,010,659 shares during the same period.