Bed Bath & Beyond Inc. (NASDAQ:BBBY) shares plunged -4.39% in pre-market trade on Friday after the bearish sentiment on the home furnishings, and consumer products retailer, by an analyst of J.P. Morgan, Christopher Horvers. He cut his rating on BBBY stock citing the looming concerns over the growth and margin outlook, in comparison to peers.
Analyst Christopher Horvers trim his rating on Bed Bath & Beyond Inc. (NASDAQ:BBBY) shares from neutral to underweight, and his stock price target to $18.
As he pointed out that Bed Bath & Beyond (BBBY)’s same-store sales lessened by 0.3% in last quarter, although November was arguably the best month of the year for the retailers, and according to his expert research, he suggests the trends have slowed for the current quarter in spite of upbeat outlooks from its peers.
Bed Bath & Beyond Inc. (NASDAQ:BBBY)’s stock on Thursday traded at beginning with a price of $ and when day-trade ended the stock finally plunged -1.92% to reach at $23.03. Analyst’s mean target price for BBBY is $23.00 while analysts mean recommendation is 3.30. Stock value has moved between $19.03 – 41.87 in last one year.
Analyst Christopher Horvers said further margin erosion “appears inevitable” as management doubles down on its price match guarantee, steps up coupon offers and accelerates advertising spend.
Analyst’s ratings play a very important role in outlining a stock’s performance. Let us check out how analysts have ranked BBBY based on current scenarios. Stock has got OUTPERFORM rating from 0 analyst(s) whereas last month 0 analyst(s) have given outperform rating. SELL rating has been given by 3 analyst(s) and 1 analyst(s) given BUY rating to the stock. Company fiscal year is ending in February and analysts’ consensus recommendation is Hold for BBBY and estimated EPS for next quarter is 0.46.
Bed Bath & Beyond Inc. (NASDAQ:BBBY) yearly performance is -43.18% and net profit margin is 4.10%. Annual EPS Growth of past 5 years is 2.40%. The current share price indicates that stock is -45.11% away from its one year high and is moving 20.77% ahead of its 52-week low.