Best Buy Co. Inc. (NYSE:BBY) shares traded -3.09% lower at $66.75 on Wall Street last session.
As we calculate the median target price by taking the range between a high of $90.00 and a low of $60.00, we find $78.00. Given the previous closing price of $68.88, this indicates a potential upside of 13.24 percent. BBY stock price is now -2.91% away from the 50-day moving average and -11.94% away from the 200-day moving average. The market capitalization of the company currently stands at $14.53B.
Brokers who have rated the stock have averaged $77.21 as their price target over the next twelve months.
With the price target enhanced from $79 to $85, Goldman Upgraded its rating from Neutral to Buy for Best Buy Co. Inc. (NYSE: BBY).
In other news, Hartman Todd G., GC, Chief Risk Officer sold 7,948 shares of the company’s stock on Sep 22. The stock was sold for $551,423 at an average price of $69.38. Upon completion of the transaction, the GC, Chief Risk Officer now directly owns 13,337 shares in the company, valued at $0.89 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Sep 20, GC, Chief Risk Officer Hartman Todd G. sold 5,000 shares of the business’s stock. A total of $355,894 was realized by selling the stock at an average price of $71.18. This leaves the insider owning 21,285 shares of the company worth $1.42 million. Insiders disposed of 1,091,728 shares of company stock worth roughly $72.87 million over the past 1 year. A total of 11.04% of the company’s stock is owned by insiders.
Best Buy Co. Inc. (NYSE: BBY) opened at $68.25 on Thursday. During the past 12 months, Best Buy Co. Inc. has had a low of $62.30 and a high of $93.32. As of last week, the company has a debt-to-equity ratio of 1.42, a current ratio of 0.98, and a quick ratio of 0.31. According to the stock market information, the enterprise value for the company is $17.93B, which is based on a 11.47 price-to-earnings ratio, a 3.37 price-to-earnings-growth ratio, and a beta of 1.53. The fifty day moving average price for BBY is $68.63 and a two-hundred day moving average price translates $75.69 for the stock.
The latest earnings results from Best Buy Co. Inc. (NYSE: BBY) was released for Jul, 2023. According to the Specialty Retail Company, earnings per share came in at $1.22, beating analysts’ expectations of $1.06 by 0.16. This compares to $1.35 EPS in the same period last year. The net profit margin was 2.91% and return on equity was 45.05% for BBY. The company reported revenue of $9.58 billion for the quarter, compared to $10.33 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -7.22 percent. For the current quarter, analysts expect BBY to generate $9.9B in revenue.
Best Buy Co. Inc.(BBY) Company Profile
Best Buy Co., Inc. engages in the retail of technology products in the United States and Canada. The company operates in two segments, Domestic and International. Its stores provide computing and mobile phone products, such as desktops, notebooks, and peripherals; mobile phones comprising related mobile network carrier commissions; networking products; tablets covering e-readers; smartwatches; and consumer electronics consisting of digital imaging, health and fitness products, home theater, portable audio comprising headphones and portable speakers, and smart home products. The company’s stores also offer appliances, such as dishwashers, laundry, ovens, refrigerators, blenders, coffee makers, and vacuums; entertainment products consisting of drones, peripherals, movies, music, and toys, as well as gaming hardware and software, and virtual reality and other software products; and other products, such as baby, food and beverage, luggage, outdoor living, and sporting goods. In addition, it provides consultation, delivery, design, installation, memberships, repair, set-up, technical support, health-related, and warranty-related services. The company offers its products through stores and websites under the Best Buy, Best Buy Ads, Best Buy Business, Best Buy Health, Buy Mobile, CST, Current Health, Geek Squad, Lively, Magnolia, Pacific Kitchen, Home, TechLiquidators, and Yardbird brands, as well as domain names comprising bestbuy.com, currenthealth.com, lively.com, techliquidators.com, yardbird.com, and bestbuy.ca. The company was formerly known as Sound of Music, Inc. Best Buy Co., Inc. was incorporated in 1966 and is headquartered in Richfield, Minnesota.