Bed Bath & Beyond’s Underweight Rating Reaffirmed at Morgan Stanley (BBBY)

Bed Bath & Beyond (NASDAQ: BBBY)‘s stock had its “underweight” rating restated by analysts at Morgan Stanley in a research report issued to clients and investors on Wednesday. They currently have a $57.00 price target on the stock.

A number of other firms have also recently commented on BBBY. Analysts at Sanford C. Bernstein reiterated an “outperform” rating on shares of Bed Bath & Beyond in a research note to investors on Tuesday. They now have a $80.00 price target on the stock. Separately, analysts at Goldman Sachs downgraded shares of Bed Bath & Beyond to a “sell” rating in a research note to investors on Monday, February 11th.

Sixteen equities research analysts have rated the stock with a buy rating, two have assigned an overweight rating, eight have assigned a hold rating, and two have given a sell rating to the company. Bed Bath & Beyond currently has a consensus rating of “overweight” and an average price target of $69.67.

Bed Bath & Beyond opened at 61.32 on Wednesday. Bed Bath & Beyond has a 1-year low of $54.33 and a 1-year high of $75.84. The stock’s 50-day moving average is currently $58.39. The company has a market cap of $13.616 billion and a price-to-earnings ratio of 14.00.

Bed Bath & Beyond last released its earnings data on Wednesday, December 19th. The company reported $1.03 EPS for the quarter, beating the Thomson Reuters consensus estimate of $1.02 by $0.01. The company had revenue of $2.70 billion for the quarter, compared to the consensus estimate of $2.73 billion. During the same quarter in the prior year, the company posted $0.95 earnings per share. The company’s quarterly revenue was up 15.2% on a year-over-year basis. Bed Bath & Beyond has set its Q4 guidance at $1.60-1.67 EPS. Analysts expect that Bed Bath & Beyond will post $4.56 EPS for the current fiscal year.

Bed Bath & Beyond Inc. is a chain of retail stores, operating under the names Bed Bath & Beyond (BBB), Christmas Tree Shops (CTS), Harmon and Harmon Face Values (Harmon) and buybuy BABY.

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