Bed Bath & Beyond (NASDAQ:BBBY) Downgraded to Sell at Odeon Capital Group

Odeon Capital Group downgraded shares of Bed Bath & Beyond (NASDAQ:BBBY – Get Rating) from a hold rating to a sell rating in a research report sent to investors on Tuesday morning, MarketBeat Ratings reports.

A number of other brokerages also recently weighed in on BBBY. UBS Group dropped their price objective on Bed Bath & Beyond from $3.50 to $1.50 and set a sell rating on the stock in a research report on Friday, January 6th. Telsey Advisory Group reduced their price objective on Bed Bath & Beyond from $3.00 to $2.00 and set an underperform rating for the company in a research note on Thursday, January 5th. Wedbush restated an underperform rating on shares of Bed Bath & Beyond in a research note on Tuesday. Finally, Wells Fargo & Company reduced their price target on Bed Bath & Beyond from $3.00 to $2.00 and set an underweight rating for the company in a research report on Thursday, January 5th. Thirteen investment analysts have rated the stock with a sell rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of Reduce and a consensus price target of $4.00.

Bed Bath & Beyond Stock Down 48.6 %

BBBY stock opened at $3.01 on Tuesday. The business’s fifty day simple moving average is $3.03 and its two-hundred day simple moving average is $5.57. Bed Bath & Beyond has a twelve month low of $1.27 and a twelve month high of $30.06. The firm has a market cap of $353.13 million, a price-to-earnings ratio of -0.20 and a beta of 1.54.

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Bed Bath & Beyond (NASDAQ:BBBY – Get Rating) last announced its quarterly earnings results on Tuesday, January 10th. The retailer reported ($3.65) EPS for the quarter, missing the consensus estimate of ($2.36) by ($1.29). The firm had revenue of $1.26 billion for the quarter, compared to analysts’ expectations of $1.34 billion. Bed Bath & Beyond had a negative net margin of 20.54% and a negative return on equity of 90.91%. The business’s quarterly revenue was down 33.0% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.25) EPS. Research analysts expect that Bed Bath & Beyond will post -11.67 EPS for the current year.

Hedge Funds Weigh In On Bed Bath & Beyond

Several hedge funds have recently bought and sold shares of BBBY. Newbridge Financial Services Group Inc. acquired a new position in Bed Bath & Beyond in the third quarter valued at $30,000. AE Wealth Management LLC purchased a new stake in shares of Bed Bath & Beyond during the fourth quarter worth about $30,000. Brinker Capital Investments LLC bought a new stake in Bed Bath & Beyond in the fourth quarter valued at about $44,000. KBC Group NV bought a new stake in Bed Bath & Beyond in the second quarter valued at about $45,000. Finally, Vista Wealth Management Group LLC acquired a new position in Bed Bath & Beyond in the fourth quarter valued at approximately $50,000. Hedge funds and other institutional investors own 64.16% of the company’s stock.

About Bed Bath & Beyond

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Bed Bath & Beyond, Inc engages in the operation of retail stores and retails domestics merchandise and home furnishings. 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.