Best Buy (NYSE: BBY) has recently received a number of price target changes and ratings updates:

  • 12/4/2017 – Best Buy is now covered by analysts at Moffett Nathanson. They set a “sell” rating on the stock.
  • 11/29/2017 – Best Buy was given a new $32.00 price target on by analysts at Wedbush. They now have a “sell” rating on the stock.
  • 11/17/2017 – Best Buy was given a new $56.00 price target on by analysts at Deutsche Bank AG. They now have a “hold” rating on the stock.
  • 11/16/2017 – Best Buy had its “buy” rating reaffirmed by analysts at Deutsche Bank AG.
  • 11/16/2017 – Best Buy was given a new $72.00 price target on by analysts at Loop Capital. They now have a “buy” rating on the stock.
  • 11/16/2017 – Best Buy had its “hold” rating reaffirmed by analysts at Oppenheimer Holdings Inc..
  • 11/14/2017 – Best Buy was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. According to Zacks, “Best Buy has exhibited a bullish run in the index and outpaced the industry in a year owing to strategic efforts, sturdy online sales growth and solid earnings history. The company is making extensive investments to upgrade operations with special focus on developing omni-channel capabilities and strengthening partnership with vendors. Moreover, following the completion of “Renew Blue” program, it launched a fresh strategy called “Best Buy 2020: Building the New Blue”. Under this strategy, the top most priority is to explore and pursue growth opportunities and optimize cost with focus on key areas. Moreover, the challenging retail landscape, aggressive promotional strategies and waning store traffic remain concerns. Further, analyst believes increase in investment may strain margins in the coming quarters.”
  • 11/13/2017 – Best Buy had its “hold” rating reaffirmed by analysts at Jefferies Group LLC. They now have a $60.00 price target on the stock. They noted that the move was a valuation call. They noted that the move was a valuation call.
  • 11/13/2017 – Best Buy was given a new $33.00 price target on by analysts at Wedbush. They now have a “sell” rating on the stock.
  • 11/10/2017 – Best Buy had its “hold” rating reaffirmed by analysts at KeyCorp.
  • 10/30/2017 – Best Buy was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Best Buy has exhibited a bullish run in the index and outpaced the industry in a year owing to strategic efforts, sturdy online sales growth and solid earnings history. The company is making extensive investments to upgrade operations with special focus on developing omni-channel capabilities and strengthening partnership with vendors. Moreover, following the completion of “Renew Blue” program, it launched a fresh strategy called “Best Buy 2020: Building the New Blue”. Under this strategy, the top most priority is to explore and pursue growth opportunities and optimize cost with focus on key areas. On the other hand, despite reporting robust results in second-quarter fiscal 2018, the stock took a hit as investors are concerned about margins which may come under pressure due to increase in investment. Moreover, the challenging retail landscape, aggressive promotional strategies and waning store traffic remain concerns.”
  • 10/24/2017 – Best Buy was given a new $72.00 price target on by analysts at Loop Capital. They now have a “buy” rating on the stock.
  • 10/16/2017 – Best Buy was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $62.00 price target on the stock. According to Zacks, “Best Buy has exhibited a bullish run in the index and outpaced the industry in a year owing to strategic efforts, sturdy online sales growth and solid earnings history. The company is making extensive investments to upgrade operations with special focus on developing omni-channel capabilities and strengthening partnership with vendors. Moreover, following the completion of “Renew Blue” program, it launched a fresh strategy called “Best Buy 2020: Building the New Blue”. Under this strategy, the top most priority is to explore and pursue growth opportunities and optimize cost with focus on key areas. On the other hand, despite reporting robust results in second-quarter fiscal 2018, the stock took a hit as investors are concerned about margins which may come under pressure due to increase in investment. Moreover, the challenging retail landscape, aggressive promotional strategies and waning store traffic remain concerns.”
  • 10/13/2017 – Best Buy was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Best Buy has exhibited a bullish run in the index and outpaced the industry in a year owing to strategic efforts, sturdy online sales growth and solid earnings history. The company is making extensive investments to upgrade operations with special focus on developing omni-channel capabilities and strengthening partnership with vendors. Moreover, following the completion of “Renew Blue” program, it launched a fresh strategy called “Best Buy 2020: Building the New Blue”. Under this strategy, the top most priority is to explore and pursue growth opportunities and optimize cost with focus on key areas. On the other hand, despite reporting robust results in second-quarter fiscal 2018, the stock took a hit as investors are concerned about margins which may come under pressure due to increase in investment. Moreover, the challenging retail landscape, aggressive promotional strategies and waning store traffic remain concerns.”
  • 10/10/2017 – Best Buy was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $66.00 price target on the stock. According to Zacks, “Best Buy has exhibited a bullish run in the index and outpaced the industry in a year owing to strategic efforts, sturdy online sales growth and solid earnings history. The company is making extensive investments to upgrade operations with special focus on developing omni-channel capabilities and strengthening partnership with vendors. Moreover, following the completion of “Renew Blue” program, it launched a fresh strategy called “Best Buy 2020: Building the New Blue”. Under this strategy, the top most priority is to explore and pursue growth opportunities and optimize cost with focus on key areas. On the other hand, despite reporting robust results in second-quarter fiscal 2018, the stock took a hit as investors are concerned about margins which may come under pressure due to increase in investment. Moreover, the challenging retail landscape, aggressive promotional strategies and waning store traffic remain concerns.”

Shares of Best Buy Co., Inc. (NYSE BBY) traded up $2.20 during midday trading on Tuesday, hitting $62.55. The stock had a trading volume of 6,917,800 shares, compared to its average volume of 4,478,901. The firm has a market capitalization of $17,641.90, a PE ratio of 15.01, a P/E/G ratio of 1.25 and a beta of 1.40. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.52 and a current ratio of 1.25. Best Buy Co., Inc. has a twelve month low of $41.67 and a twelve month high of $63.32.

Best Buy (NYSE:BBY) last posted its earnings results on Thursday, November 16th. The technology retailer reported $0.78 EPS for the quarter, meeting the consensus estimate of $0.78. The firm had revenue of $9.32 billion for the quarter, compared to analyst estimates of $9.36 billion. Best Buy had a return on equity of 28.46% and a net margin of 3.09%. Best Buy’s revenue for the quarter was up 4.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.60 earnings per share. sell-side analysts expect that Best Buy Co., Inc. will post 4.03 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 28th. Investors of record on Thursday, December 7th will be issued a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 2.17%. The ex-dividend date of this dividend is Wednesday, December 6th. Best Buy’s dividend payout ratio (DPR) is presently 34.34%.

In other Best Buy news, insider Kathleen Scarlett sold 10,797 shares of the firm’s stock in a transaction dated Wednesday, September 20th. The stock was sold at an average price of $52.49, for a total transaction of $566,734.53. Following the transaction, the insider now owns 25,690 shares of the company’s stock, valued at $1,348,468.10. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, major shareholder Richard M. Schulze sold 1,000,000 shares of the firm’s stock in a transaction dated Wednesday, November 29th. The stock was sold at an average price of $58.80, for a total value of $58,800,000.00. The disclosure for this sale can be found here. Insiders sold 1,098,184 shares of company stock worth $64,306,062 in the last three months. 0.84% of the stock is currently owned by corporate insiders.

Best Buy Co, Inc is a provider of technology products, services and solutions. The Company offers products and services to the customers visiting its stores, engaging with Geek Squad agents, or using its Websites or mobile applications. It has operations in the United States, Canada and Mexico. The Company operates through two segments: Domestic and International.

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