Barnes & Noble Education Inc. (NYSE:BNED) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Monday. The firm presently has a $11.00 price objective on the stock. Zacks Investment Research’s target price indicates a potential upside of 17.65% from the company’s previous close.
According to Zacks, “Barnes & Noble Education, Inc. is engaged in creating and operating campus bookstores for academic institutions under multi-year management service agreements. The Company’s products and services include Textbook and Course Material Sales, Textbook and Course Material Rentals, General Merchandise, Trade, Digital Education Platform, e-commerce Platform, FacultyEnlight, Campus Connect Technologies platform and Flexible Course Fee Solution. It operates primarily in the United States. Barnes & Noble Education, Inc. is based in Basking Ridge, United States. “
Separately, BWS Financial started coverage on shares of Barnes & Noble Education in a research report on Tuesday, October 11th. They issued a “strong-buy” rating and a $14.00 price objective on the stock.
Shares of Barnes & Noble Education (NYSE:BNED) traded down 2.60% on Monday, hitting $9.35. 114,634 shares of the company traded hands. The stock’s 50-day moving average price is $10.11 and its 200-day moving average price is $10.20. Barnes & Noble Education has a 12 month low of $8.15 and a 12 month high of $15.49. The company’s market capitalization is $430.77 million.
Barnes & Noble Education (NYSE:BNED) last announced its quarterly earnings data on Thursday, September 8th. The company reported ($0.60) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.58) by $0.02. Barnes & Noble Education had a negative net margin of 0.05% and a positive return on equity of 2.22%. The firm earned $239.20 million during the quarter, compared to analysts’ expectations of $245.58 million. During the same period in the prior year, the company posted ($0.65) earnings per share. The company’s revenue for the quarter was up .1% on a year-over-year basis. On average, equities analysts predict that Barnes & Noble Education will post $0.44 earnings per share for the current year.
Several hedge funds and other institutional investors have recently modified their holdings of BNED. Fox Run Management L.L.C. bought a new position in shares of Barnes & Noble Education during the third quarter valued at about $107,000. SECOR Capital Advisors LP acquired a new stake in shares of Barnes & Noble Education during the second quarter worth $121,000. BNP Paribas Arbitrage SA boosted its stake in shares of Barnes & Noble Education by 86.4% in the second quarter. BNP Paribas Arbitrage SA now owns 12,362 shares of the company’s stock worth $125,000 after buying an additional 5,729 shares in the last quarter. Airain ltd acquired a new stake in shares of Barnes & Noble Education during the second quarter worth $129,000. Finally, Profund Advisors LLC boosted its stake in shares of Barnes & Noble Education by 10.3% in the second quarter. Profund Advisors LLC now owns 12,840 shares of the company’s stock worth $130,000 after buying an additional 1,196 shares in the last quarter. Institutional investors and hedge funds own 66.66% of the company’s stock.
About Barnes & Noble Education
Barnes & Noble Education, Inc is a contract operator of bookstores on college and university campuses across the United States and a provider of digital education services. The Company offers a support system, and a retail and digital learning experience for students. Through its subsidiary, Barnes & Noble College Booksellers, LLC, the Company operates approximately 750 campus bookstores and the school-branded e-commerce sites for each store, serving over five million college students and their faculty.
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