Shares of Best Buy Co Inc (NYSE:BBY) have been assigned an average rating of “Hold” from the twenty-one analysts that are currently covering the firm, Marketbeat.com reports. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $74.36.

A number of equities research analysts have issued reports on BBY shares. Loop Capital set a $85.00 price target on shares of Best Buy and gave the company a “buy” rating in a report on Thursday, May 24th. Zacks Investment Research upgraded shares of Best Buy from a “hold” rating to a “buy” rating and set a $87.00 price target for the company in a report on Monday, May 14th. ValuEngine upgraded shares of Best Buy from a “hold” rating to a “buy” rating in a report on Thursday, July 19th. Morgan Stanley restated a “buy” rating on shares of Best Buy in a report on Friday, June 8th. Finally, Wells Fargo & Co set a $77.00 price target on shares of Best Buy and gave the company a “hold” rating in a report on Thursday, May 24th.

In related news, insider Asheesh Saksena sold 18,570 shares of the stock in a transaction dated Thursday, June 14th. The shares were sold at an average price of $73.69, for a total value of $1,368,423.30. Following the completion of the sale, the insider now owns 77,478 shares in the company, valued at $5,709,353.82. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Mathew Watson sold 457 shares of the stock in a transaction dated Monday, June 11th. The shares were sold at an average price of $72.54, for a total transaction of $33,150.78. Following the completion of the sale, the senior vice president now owns 20,241 shares of the company’s stock, valued at approximately $1,468,282.14. The disclosure for this sale can be found here. In the last quarter, insiders sold 23,145 shares of company stock valued at $1,692,585. 0.75% of the stock is owned by corporate insiders.

Large investors have recently bought and sold shares of the stock. Principal Financial Group Inc. raised its position in Best Buy by 5.9% in the first quarter. Principal Financial Group Inc. now owns 970,027 shares of the technology retailer’s stock worth $67,891,000 after purchasing an additional 53,983 shares in the last quarter. Kaizen Advisory LLC raised its position in Best Buy by 290.7% in the second quarter. Kaizen Advisory LLC now owns 15,759 shares of the technology retailer’s stock worth $1,176,000 after purchasing an additional 11,725 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. raised its position in Best Buy by 97.2% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 6,556 shares of the technology retailer’s stock worth $457,000 after purchasing an additional 3,231 shares in the last quarter. IFM Investors Pty Ltd raised its position in Best Buy by 41.0% in the second quarter. IFM Investors Pty Ltd now owns 12,291 shares of the technology retailer’s stock worth $917,000 after purchasing an additional 3,574 shares in the last quarter. Finally, Pendal Group Ltd raised its position in Best Buy by 33.7% in the second quarter. Pendal Group Ltd now owns 222,851 shares of the technology retailer’s stock worth $16,620,000 after purchasing an additional 56,122 shares in the last quarter. 87.30% of the stock is owned by hedge funds and other institutional investors.

BBY stock opened at $78.48 on Friday. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.27 and a quick ratio of 0.56. Best Buy has a 52-week low of $51.61 and a 52-week high of $79.90. The stock has a market cap of $21.99 billion, a price-to-earnings ratio of 17.76, a PEG ratio of 1.37 and a beta of 0.79.

Best Buy (NYSE:BBY) last released its quarterly earnings results on Thursday, May 24th. The technology retailer reported $0.82 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.74 by $0.08. Best Buy had a net margin of 2.39% and a return on equity of 36.16%. The company had revenue of $9.11 billion during the quarter, compared to analysts’ expectations of $8.75 billion. During the same period in the prior year, the company earned $0.60 earnings per share. The business’s quarterly revenue was up 6.8% compared to the same quarter last year. equities analysts anticipate that Best Buy will post 5.01 EPS for the current fiscal year.

About Best Buy

Best Buy Co, Inc operates as a retailer of technology products, services, and solutions in the United States, Canada, and Mexico. The company operates in two segments, Domestic and International. Its stores provide consumer electronics, including digital imaging, health and fitness, home automation, home theater, and portable audio products; computing and mobile phones, such as computing and peripherals, networking products, tablets, smart watches, and e-readers, as well as mobile phones comprising related mobile network carrier commissions; and entertainment products, including drones, movies, music, and technology toys, as well as gaming hardware and software, and virtual reality and other software products.

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Analyst Recommendations for Best Buy (NYSE:BBY)

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