Equities research analysts at Nomura initiated coverage on shares of Best Buy (NYSE:BBY) in a research report issued on Friday, The Fly reports. The firm set a “neutral” rating and a $73.00 price target on the technology retailer’s stock. Nomura’s price target suggests a potential downside of 5.01% from the stock’s current price.

Several other equities analysts have also recently weighed in on the stock. Bank of America set a $75.00 price target on shares of Best Buy and gave the company a “hold” rating in a research report on Monday, August 26th. Telsey Advisory Group raised their price target on shares of Best Buy from $70.00 to $75.00 and gave the company a “market perform” rating in a research report on Thursday, September 26th. Goldman Sachs Group started coverage on shares of Best Buy in a research report on Thursday, July 11th. They issued a “neutral” rating and a $73.00 price target on the stock. ValuEngine raised shares of Best Buy from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. Finally, Loop Capital set a $90.00 price target on shares of Best Buy and gave the company a “buy” rating in a research report on Wednesday, September 18th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $78.28.

Shares of BBY stock traded up $0.84 on Friday, reaching $76.85. 1,898,931 shares of the company were exchanged, compared to its average volume of 2,872,394. The company has a market cap of $20.13 billion, a price-to-earnings ratio of 14.45, a PEG ratio of 1.65 and a beta of 1.14. The company has a 50-day moving average of $70.00 and a 200-day moving average of $69.43. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.08 and a quick ratio of 0.39. Best Buy has a one year low of $47.72 and a one year high of $78.53.

Best Buy (NYSE:BBY) last released its quarterly earnings data on Thursday, August 29th. The technology retailer reported $1.08 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.99 by $0.09. The company had revenue of $9.54 billion for the quarter, compared to analysts’ expectations of $9.55 billion. Best Buy had a net margin of 3.52% and a return on equity of 48.56%. The business’s revenue was up 1.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.91 EPS. As a group, sell-side analysts predict that Best Buy will post 5.75 EPS for the current year.

In other Best Buy news, Director Hubert Joly sold 407,880 shares of the stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $66.97, for a total value of $27,315,723.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Mathew Watson sold 1,000 shares of the stock in a transaction dated Friday, September 27th. The shares were sold at an average price of $68.03, for a total transaction of $68,030.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 408,913 shares of company stock valued at $27,386,014. Company insiders own 0.95% of the company’s stock.

A number of large investors have recently bought and sold shares of the business. Vanguard Group Inc. increased its stake in Best Buy by 3.7% in the 2nd quarter. Vanguard Group Inc. now owns 27,605,353 shares of the technology retailer’s stock valued at $1,924,922,000 after buying an additional 993,608 shares during the last quarter. BlackRock Inc. increased its stake in shares of Best Buy by 4.4% during the 2nd quarter. BlackRock Inc. now owns 18,179,382 shares of the technology retailer’s stock worth $1,267,648,000 after purchasing an additional 772,762 shares during the last quarter. Invesco Ltd. increased its stake in shares of Best Buy by 289.7% during the 2nd quarter. Invesco Ltd. now owns 4,918,106 shares of the technology retailer’s stock worth $342,938,000 after purchasing an additional 3,656,220 shares during the last quarter. AQR Capital Management LLC increased its stake in shares of Best Buy by 40.6% during the 2nd quarter. AQR Capital Management LLC now owns 4,797,656 shares of the technology retailer’s stock worth $330,991,000 after purchasing an additional 1,385,457 shares during the last quarter. Finally, Northern Trust Corp increased its stake in shares of Best Buy by 5.1% during the 2nd quarter. Northern Trust Corp now owns 3,839,801 shares of the technology retailer’s stock worth $267,750,000 after purchasing an additional 187,894 shares during the last quarter. Hedge funds and other institutional investors own 78.60% of the company’s stock.

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 Computing and Mobile Phones, such as computing and peripherals, e-readers, networking products, tablets, and wearables, as well as mobile phones comprising related mobile network carrier commissions; consumer electronics, including digital imaging, health and fitness, home theater, portable audio, and smart home products; and entertainment products consisting of drones, movies, music, and toys, as well as gaming hardware and software, and virtual reality and other software products.

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The Fly

Analyst Recommendations for Best Buy (NYSE:BBY)

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