Best Buy Co (BBY) Receives a New Rating from a Top Analyst

In a report released today, Brian Nagel from Oppenheimer assigned a Hold rating to Best Buy Co (BBYResearch Report), with a price target of $125.00. The company’s shares closed last Thursday at $105.35.

According to TipRanks.com, Nagel is a top 25 analyst with an average return of 40.0% and a 79.6% success rate. Nagel covers the Consumer Goods sector, focusing on stocks such as Dick’s Sporting Goods, The Lovesac Company, and Lululemon Athletica.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Best Buy Co with a $122.71 average price target, implying a 18.2% upside from current levels. In a report issued on February 18, UBS also maintained a Hold rating on the stock with a $120.00 price target.

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Based on Best Buy Co’s latest earnings release for the quarter ending October 31, the company reported a quarterly revenue of $11.85 billion and net profit of $391 million. In comparison, last year the company earned revenue of $9.76 billion and had a net profit of $293 million.

Based on the recent corporate insider activity of 111 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of BBY in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Best Buy Co., Inc. provides consumer technology products and services. It operates through two business segments: Domestic and International. The Domestic segment is comprised of the operations in all states, districts and territories of the U.S., operating under various brand names, including but not limited to, Best Buy, Best Buy Mobile, Geek Squad, Magnolia Audio Video, Napster and Pacific Sales. The International segment is comprised of all operations outside the U.S. and its territories, which includes Canada, Europe, China, Mexico and Turkey. It also markets its products under the brand names: Best Buy, bestbuy.com, Best Buy Direct, Best Buy Express, Best Buy Mobile, Geek Squad, GreatCall, Magnolia and Pacific Kitchen and Home. The company was founded by Richard M. Schulze in 1966 and is headquartered in Richfield, MN.