Bed Bath & Beyond Inc. [BBBY] stock Upgrade by Odeon analyst, price target now $7.50

Bed Bath & Beyond Inc. [NASDAQ: BBBY] slipped around -0.38 points on Friday, while shares priced at $4.67 at the close of the session, down -7.52%. The company report on October 18, 2022 that Bed Bath & Beyond Inc. Announces Commencement of Exchange Offers and Consent Solicitations for Certain of its Outstanding Debt Securities.

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Bed Bath & Beyond Inc. (NASDAQ: BBBY) today announced that it has commenced offers to exchange (the “Exchange Offers”) any and all of its outstanding Senior Notes.

Sue Gove, Director & Interim CEO of Bed Bath & Beyond Inc., said, “We believe this transaction will put us in a stronger financial position going forward by significantly reducing our debt and interest expense upon a successful completion.  By proactively focusing on our Senior Notes, we also intend to address the maturity of our nearest-term 2024 Notes and any impact they may have on our current and future business.  This transaction is intended to create greater stability and flexibility in our business which we believe benefits all stakeholders.”.

Bed Bath & Beyond Inc. stock is now -67.97% down from its year-to-date (YTD) trading value. BBBY Stock saw the intraday high of $5.02 and lowest of $4.54 per share. The company’s 52-week high price is 30.06, which means current price is +5.48% above from all time high which was touched on 03/07/22.

Compared to the average trading volume of 43.07M shares, BBBY reached a trading volume of 12170657 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about Bed Bath & Beyond Inc. [BBBY]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for BBBY shares is $3.73 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on BBBY stock is a recommendation set at 3.80. 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.

Odeon have made an estimate for Bed Bath & Beyond Inc. shares, keeping their opinion on the stock as Hold, with their previous recommendation back on September 30, 2022. The new note on the price target was released on September 01, 2022, representing the official price target for Bed Bath & Beyond Inc. stock. Previously, the target price had yet another raise to $5, while Wedbush analysts kept a Underperform rating on BBBY stock.

The Average True Range (ATR) for Bed Bath & Beyond Inc. is set at 0.52, with the Price to Sales ratio for BBBY stock in the period of the last 12 months amounting to 0.06.

How has BBBY stock performed recently?

Bed Bath & Beyond Inc. [BBBY] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -5.27. With this latest performance, BBBY shares dropped by -34.13% in over the last four-week period, additionally sinking by -73.25% over the last 6 months – not to mention a drop of -67.32% 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 BBBY stock in for the last two-week period is set at 34.40, with the RSI for the last a single of trading hit 28.24, and the three-weeks RSI is set at 38.67 for Bed Bath & Beyond Inc. [BBBY]. The present Moving Average for the last 50 days of trading for this stock 8.56, while it was recorded at 5.03 for the last single week of trading, and 11.79 for the last 200 days.

Bed Bath & Beyond Inc. [BBBY]: Deeper insight into the fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Bed Bath & Beyond Inc. [BBBY] shares currently have an operating margin of -1.57 and a Gross Margin at +33.31. Bed Bath & Beyond Inc.’s Net Margin is presently recorded at -7.11.

Return on Equity for this stock declined to -77.13, with Return on Assets sitting at -9.66.

Bed Bath & Beyond Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.20 and a Current Ratio set at 1.00.

Insider trade positions for Bed Bath & Beyond Inc. [BBBY]

There are presently around $304 million, or 82.50% of BBBY stock, in the hands of institutional investors. The top three institutional holders of BBBY stocks are: BLACKROCK INC. with ownership of 12,511,588, which is approximately -19.762% of the company’s market cap and around 4.10% of the total institutional ownership; FMR LLC, holding 8,324,963 shares of the stock with an approximate value of $38.88 million in BBBY stocks shares; and VANGUARD GROUP INC, currently with $37.05 million in BBBY stock with ownership of nearly -21.923% of the company’s market capitalization.

Positions in Bed Bath & Beyond Inc. stocks held by institutional investors increased at the end of September and at the time of the September reporting period, where 97 institutional holders increased their position in Bed Bath & Beyond Inc. [NASDAQ:BBBY] by around 11,204,298 shares. Additionally, 142 investors decreased positions by around 17,881,781 shares, while 38 investors held positions by with 36,045,285 shares. The mentioned changes placed institutional holdings at 65,131,364 shares, according to the latest SEC report filing. BBBY stock had 38 new institutional investments in for a total of 3,155,019 shares, while 58 institutional investors sold positions of 2,640,467 shares during the same period.


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