Zacks’ analyst wrote, “Bed Bath & Beyond’s strategic initiatives, including store expansion, enhancement of e-commerce capabilities and improvisation of customer services have started showing results as evident from its recently reported second-quarter fiscal 2014 results. The company’s top and bottom lines improved year-over-year and surpassed the Zacks Consensus Estimate. Further, looking at the improving housing market we expect the company’s sales to grow at an impressive pace. However, we are concern about the stock’s margins which has been negatively impacted by a rise in coupon expenses, increase in net direct-to-customer shipping expense and mix shift to products sold in lower margin categories. Going forward, we expect this weakness to continue due to persistence of the above factors through the rest of fiscal 2014. Given the pros and cons, we maintain our Neutral stance on the stock.”
Zacks has also taken action a number of other consumer discretionary stocks recently. The firm upgraded shares of Vitamin Shoppe Inc from an underperform rating to a neutral rating. The firm now has a $44.70 price target on that stock. Also, Zacks upgraded shares of DSW Inc. from a neutral rating to an outperform rating. Zacks now has a $32.20 price target on that stock.
Bed Bath & Beyond (NASDAQ:BBBY) traded up 0.32% during mid-day trading on Wednesday, hitting $66.53. 346,557 shares of the company’s stock traded hands. Bed Bath & Beyond has a 52-week low of $54.96 and a 52-week high of $80.82. The stock has a 50-day moving average of $65.0 and a 200-day moving average of $63.02. The company has a market cap of $12.616 billion and a P/E ratio of 13.76. Bed Bath & Beyond also was the recipient of a large drop in short interest in September. As of September 30th, there was short interest totalling 18,005,751 shares, a drop of 16.9% from the September 15th total of 21,662,735 shares. Approximately 9.2% of the shares of the stock are short sold. Based on an average trading volume of 4,265,337 shares, the short-interest ratio is presently 4.2 days.
Bed Bath & Beyond (NASDAQ:BBBY) last issued its quarterly earnings data on Tuesday, September 23rd. The company reported $1.17 earnings per share for the quarter, beating the analysts’ consensus estimate of $1.14 by $0.03. The company had revenue of $2.95 billion for the quarter. During the same quarter last year, the company posted $1.16 earnings per share. Bed Bath & Beyond’s revenue was up 4.3% compared to the same quarter last year. On average, analysts predict that Bed Bath & Beyond will post $5.04 earnings per share for the current fiscal year.
BBBY has been the subject of a number of other recent research reports. Analysts at Credit Suisse initiated coverage on shares of Bed Bath & Beyond in a research note on Wednesday, October 1st. They set a neutral rating and a $70.00 price target on the stock. Separately, analysts at Williams Capital raised their price target on shares of Bed Bath & Beyond from $78.00 to $87.00 in a research note on Friday, September 26th. They now have a buy rating on the stock. Finally, analysts at Telsey Advisory Group raised their price target on shares of Bed Bath & Beyond from $60.00 to $65.00 in a research note on Wednesday, September 24th. They now have an underperform rating on the stock. Four equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. Bed Bath & Beyond presently has an average rating of Hold and an average target price of $68.40.
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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