Wall Street Analyst Upgrade Bed Bath & Beyond Inc. [BBBY]. What else is Wall St. saying

Bed Bath & Beyond Inc. [NASDAQ: BBBY] slipped around -0.38 points on Friday, while shares priced at $1.31 at the close of the session, down -22.49%. The company report on January 5, 2023 that BED BATH & BEYOND INC. PROVIDES BUSINESS UPDATE.

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Bed Bath & Beyond Inc. (Nasdaq: BBBY) today provided a business update and certain preliminary, unaudited estimated financial results for the three months ended November 26, 2022.

For the third quarter of fiscal 2022 (ended November 26, 2022), the Company expects to report Net Sales of approximately $1.259 billion compared to $1.878 billion in the year ago period, reflecting lower customer traffic and reduced levels of inventory availability, among other factors.  SG&A Expense is expected to be approximately $583.6 million compared to approximately $698.0 million in the year ago period, driven by the execution of cost optimization initiatives to right-size the Company’s expense structure.  The Company anticipates a Net Loss of approximately $385.8 million for the third quarter of fiscal 2022, including impairment charges of approximately $100.0 million, compared to a Net Loss of $276.4 million in the year ago period.  These results, including any impairment charges, are subject to further review and potential adjustment.

Bed Bath & Beyond Inc. stock is now -47.81% down from its year-to-date (YTD) trading value. BBBY Stock saw the intraday high of $1.48 and lowest of $1.27 per share. The company’s 52-week high price is 30.06, which means current price is +3.15% above from all time high which was touched on 01/03/23.

Compared to the average trading volume of 12.49M shares, BBBY reached a trading volume of 38872728 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 $2.62 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 3.90. 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 0.32, with the Price to Sales ratio for BBBY stock in the period of the last 12 months amounting to 0.02.

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 -48.02. With this latest performance, BBBY shares dropped by -60.78% in over the last four-week period, additionally sinking by -74.26% over the last 6 months – not to mention a drop of -90.20% 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 19.11, with the RSI for the last a single of trading hit 14.23, and the three-weeks RSI is set at 24.79 for Bed Bath & Beyond Inc. [BBBY]. The present Moving Average for the last 50 days of trading for this stock 3.2946, while it was recorded at 2.0460 for the last single week of trading, and 8.3166 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 $62 million, or 54.50% of BBBY stock, in the hands of institutional investors. The top three institutional holders of BBBY stocks are: BLACKROCK INC. with ownership of 11,485,702, which is approximately -8.199% of the company’s market cap and around 1.50% of the total institutional ownership; VANGUARD GROUP INC, holding 8,205,843 shares of the stock with an approximate value of $10.75 million in BBBY stocks shares; and STATE STREET CORP, currently with $4.05 million in BBBY stock with ownership of nearly -6.382% of the company’s market capitalization.

Positions in Bed Bath & Beyond Inc. stocks held by institutional investors increased at the end of January and at the time of the January reporting period, where 83 institutional holders increased their position in Bed Bath & Beyond Inc. [NASDAQ:BBBY] by around 5,392,297 shares. Additionally, 138 investors decreased positions by around 22,922,861 shares, while 38 investors held positions by with 18,716,775 shares. The mentioned changes placed institutional holdings at 47,031,933 shares, according to the latest SEC report filing. BBBY stock had 41 new institutional investments in for a total of 2,910,147 shares, while 56 institutional investors sold positions of 2,930,777 shares during the same period.


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