Zacks’ analyst wrote, “We remain impressed with Bed Bath & Beyond’s third-quarter fiscal 2013 results, which marks steady growth in its top and bottom lines. Apart from improved quarterly results, the company s future appears promising as we believe that the strategic initiatives toward expanding store base, investments in improving customer service and boosting online sales will further improve the top and bottom lines. Furthermore, on the back of a rebound in the housing market, we expect the company to continue growing at an impressive pace. However, we are skeptical about Bed Bath & Beyond’s margins performance, which is expected to remain under pressure due to the ongoing initiatives and a product mix shift to low margin categories. Therefore, we prefer to be on the sidelines and maintain our Neutral stance on the stock.”
Zacks has also updated their ratings on a number of other consumer discretionary stocks in the last week. The firm reiterated its neutral rating on shares of Guess? Inc.. They have a $31.00 price target on that stock. Also, Zacks downgraded shares of Pep Boys-Manny Moe & Jack from a neutral rating to an underperform rating. Their analysts now have a $11.40 price target on that stock. Finally, Zacks reiterated its outperform rating on shares of Tiffany & Co.. They have a $97.00 price target on that stock.
Shares of Bed Bath & Beyond (NASDAQ:BBBY) traded down 1.53% on Tuesday, hitting $65.04. 850,054 shares of the company’s stock traded hands. Bed Bath & Beyond has a 52-week low of $56.11 and a 52-week high of $80.82. The stock has a 50-day moving average of $75.75 and a 200-day moving average of $75.87. The company has a market cap of $13.592 billion and a P/E ratio of 13.47.
Bed Bath & Beyond (NASDAQ:BBBY) last released its earnings data on Wednesday, January 8th. The company reported $1.12 earnings per share for the quarter, missing the analysts’ consensus estimate of $1.15 by $0.03. The company had revenue of $2.87 billion for the quarter, compared to the consensus estimate of $2.89 billion. During the same quarter last year, the company posted $1.03 earnings per share. Bed Bath & Beyond’s revenue was up 6.0% compared to the same quarter last year. On average, analysts predict that Bed Bath & Beyond will post $4.85 earnings per share for the current fiscal year.
BBBY has been the subject of a number of other recent research reports. Analysts at Williams Capital cut their price target on shares of Bed Bath & Beyond from $101.00 to $94.00 in a research note to investors on Friday, January 10th. They now have a buy rating on the stock. Separately, analysts at Gilford Securities downgraded shares of Bed Bath & Beyond from a buy rating to a neutral rating in a research note to investors on Thursday, January 9th. Finally, analysts at Argus reiterated a buy rating on shares of Bed Bath & Beyond in a research note to investors on Thursday, January 9th. They now have a $85.00 price target on the stock, down previously from $88.00. Two research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of Hold and an average target price of $79.00.
Bed Bath & Beyond Inc is a chain of retail stores, operating under the names Bed Bath & Beyond (NASDAQ:BBBY), Christmas Tree Shops (CTS), Harmon and Harmon Face Values (Harmon), buybuy BABY and World Market or Cost Plus World Market (World Market).
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