Bed Bath & Beyond Rating Increased to Outperform at Credit Suisse (BBBY)
Bed Bath & Beyond (NASDAQ: BBBY) was upgraded by investment analysts at Credit Suisse (NYSE: CS) from a “neutral” rating to an “outperform” rating in a note issued to investors on Friday. The firm currently has a $75.00 target price on the stock, down from their previous target price of $91.00.
Shares of Bed Bath & Beyond traded down 0.38% during mid-day trading on Friday, hitting $71.28. Bed Bath & Beyond has a one year low of $48.75 and a one year high of $72.75. The company has a market cap of $16.472 billion and a P/E ratio of 17.62.
Bed Bath & Beyond last issued its quarterly earnings data on Wednesday, April 4th. The company reported $1.48 earnings per share for the quarter, beating the analysts’ consensus estimate of $1.33 by $0.15. Bed Bath & Beyond’s revenue was up 9.1% compared to the same quarter last year. On average, analysts predict that Bed Bath & Beyond will post $1.08 earnings per share next quarter.
A number of other firms have also recently commented on BBBY. Analysts at Barclays Capital (NYSE: BCS) reiterated an “overweight” rating on shares of Bed Bath & Beyond in a research note to investors on Tuesday, May 8th. Separately, analysts at Wells Fargo & Co. (NYSE: WFC) reiterated a “market perform” rating on shares of Bed Bath & Beyond in a research note to investors on Thursday, May 3rd. Finally, analysts at Oppenheimer (NYSE: OPY) raised their price target on shares of Bed Bath & Beyond from $74.00 to $84.00 in a research note to investors on Tuesday, May 1st. They now have an “outperform” rating on the stock.
Bed Bath & Beyond Inc., along with its subsidiaries, 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.