After Robert W. Baird and Telsey Advisory gave Bed Bath & Beyond (NASDAQ: BBBY) a Buy rating last month, the company received another Buy, this time from Raymond James. Analyst Bobby Griffin maintained a Buy rating on Bed Bath & Beyond today. The company’s shares closed last Thursday at $18.73.
According to TipRanks.com, Griffin is a 5-star analyst with an average return of 35.6% and a 80.0% success rate. Griffin covers the Consumer Goods sector, focusing on stocks such as Leggett & Platt, Casey’s General, and Williams-Sonoma.
Bed Bath & Beyond has an analyst consensus of Moderate Buy, with a price target consensus of $26.20, which is a 46.0% upside from current levels. In a report issued on January 5, Robert W. Baird also maintained a Buy rating on the stock with a $30.00 price target.
Based on Bed Bath & Beyond’s latest earnings release for the quarter ending August 31, the company reported a quarterly revenue of $2.69 billion and net profit of $218 million. In comparison, last year the company earned revenue of $2.72 billion and had a GAAP net loss of $139 million.
Based on the recent corporate insider activity of 37 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of BBBY in relation to earlier this year.
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Bed Bath & Beyond, Inc. engages in the operation of retail stores and retails domestics merchandise and home furnishings. It operates through the Bed Bath & Beyond, Christmas Tree Shops, Christmas Tree Shops andThat!, Harmon or Harmon Face Values, buybuy BABY, and World Market, Cost Plus World Market or Cost Plus brands. Its products include domestic merchandise and home furnishings such as bed linens and related items, bath items, kitchen textiles kitchen and tabletop items, fine tabletop, basic house wares, general home furnishings, and consumables. The company was founded by Warren Eisenberg and Leonard Feinstein in 1971 and is headquartered in Union, NJ.