Best Buy Co. Inc. [BBY] fell -3.89% so far this year. What now?

Best Buy Co. Inc. [NYSE: BBY] jumped around 1.54 points on Thursday, while shares priced at $77.09 at the close of the session, up 2.04%. The company report on March 16, 2023 that Yardbird to Nearly Double Outdoor Furniture Showrooms This Spring.

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Patio season is right around the corner and premium outdoor furniture brand Yardbird is expanding its showroom footprint by opening 11 new standalone showrooms across the country. Locations welcoming new showrooms include Atlanta, Boston, Charlotte, Cincinnati, Long Island, Milwaukee, Raleigh, San Antonio, San Francisco, Tampa and West Palm Beach.

This press release features multimedia. View the full release here:

Best Buy Co. Inc. stock is now -3.89% down from its year-to-date (YTD) trading value. BBY Stock saw the intraday high of $77.35 and lowest of $74.60 per share. The company’s 52-week high price is 103.23, which means current price is +5.30% above from all time high which was touched on 02/02/23.

Compared to the average trading volume of 2.25M shares, BBY reached a trading volume of 2949466 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about 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 $83.31 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 3.00. 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.

Telsey Advisory Group have made an estimate for Best Buy Co. Inc. shares, keeping their opinion on the stock as Market Perform, with their previous recommendation back on February 27, 2023. While these analysts kept the previous recommendation, Barclays raised their target price to Equal Weight. The new note on the price target was released on February 08, 2023, representing the official price target for Best Buy Co. Inc. stock.

The Average True Range (ATR) for Best Buy Co. Inc. is set at 2.43, with the Price to Sales ratio for BBY stock in the period of the last 12 months amounting to 0.37. The Price to Book ratio for the last quarter was 5.81. Price to Free Cash Flow for BBY in the course of the last twelve months was 192.60 with Quick ratio for the last quarter at 0.30.

How has BBY stock performed recently?

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 -2.42. With this latest performance, BBY shares dropped by -12.71% in over the last four-week period, additionally plugging by 4.81% over the last 6 months – not to mention a drop of -22.18% 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 36.49, with the RSI for the last a single of trading hit 35.16, and the three-weeks RSI is set at 39.46 for Best Buy Co. Inc. [BBY]. The present Moving Average for the last 50 days of trading for this stock 83.88, while it was recorded at 76.37 for the last single week of trading, and 76.34 for the last 200 days.

Best Buy Co. Inc. [BBY]: Deeper insight into the 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 +4.19 and a Gross Margin at +21.22. Best Buy Co. Inc.’s Net Margin is presently recorded at +3.06.

Return on Equity for this stock inclined to 48.80, with Return on Assets sitting at 8.52.

Best Buy Co. Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.30 and a Current Ratio set at 1.00.

Earnings analysis for Best Buy Co. Inc. [BBY]

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 -7.54%.

Insider trade positions for Best Buy Co. Inc. [BBY]

There are presently around $13,340 million, or 83.00% of BBY stock, in the hands of institutional investors. The top three institutional holders of BBY stocks are: VANGUARD GROUP INC with ownership of 26,046,061, which is approximately -0.442% of the company’s market cap and around 0.20% of the total institutional ownership; BLACKROCK INC., holding 19,389,421 shares of the stock with an approximate value of $1.49 billion in BBY stocks shares; and JPMORGAN CHASE & CO, currently with $856.58 million in BBY stock with ownership of nearly -0.002% of the company’s market capitalization.

Positions in Best Buy Co. Inc. stocks held by institutional investors increased at the end of Thursday and at the time of the Thursday reporting period, where 383 institutional holders increased their position in Best Buy Co. Inc. [NYSE:BBY] by around 11,603,884 shares. Additionally, 394 investors decreased positions by around 16,457,347 shares, while 99 investors held positions by with 144,984,007 shares. The mentioned changes placed institutional holdings at 173,045,238 shares, according to the latest SEC report filing. BBY stock had 133 new institutional investments in for a total of 1,650,865 shares, while 91 institutional investors sold positions of 3,153,423 shares during the same period.


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