At the time of writing, Best Buy Co. Inc. [BBY] stock is trading at $78.23, up 1.43%. An important factor to consider is whether the stock is rising or falling in short-term value. The BBY shares have gain 1.15% over the last week, with a monthly amount glided 6.07%, and seem to be holding up well over a long-time horizon.
3 Tiny Stocks Primed to Explode
The world's greatest investor — Warren Buffett — has a simple formula for making big money in the markets. He buys up valuable assets when they are very cheap. For stock market investors that means buying up cheap small cap stocks like these with huge upside potential.
We've set up an alert service to help smart investors take full advantage of the small cap stocks primed for big returns.
Click here for full details and to join for free
Sponsored
On 7, March 2024, Best Buy Announces Retirement of Board Chairman J. Patrick Doyle, Appoints David Kenny. In a post published today on Yahoo Finance, Best Buy Co., Inc. (NYSE: BBY) announced today that current Board Chairman, J. Patrick Doyle, will retire from his position, effective as of the expiration of his annual term on June 12, 2024. Doyle has served on Best Buy’s Board of Directors since 2014 and has been chairman since 2020.
From an analyst’s perspective:
Best Buy Co. Inc. [NYSE: BBY] stock has seen the most recent analyst activity on March 01, 2024, when Telsey Advisory Group reiterated its Market Perform rating and also boosted its price target to $85 from $75. Previously, Jefferies upgraded its rating to Buy on December 11, 2023, and elevated its price target to $89. On November 22, 2023, Telsey Advisory Group reiterated its Market Perform rating and revised its price target to $75 on the stock. Goldman upgraded its rating to a Buy and increased its price target to $85 on October 19, 2023. Telsey Advisory Group downgraded its rating to a Market Perform and reduced its price target to $83 on February 27, 2023. Barclays started tracking with a Equal Weight rating for this stock on February 08, 2023, and assigned it a price target of $88. In a note dated January 12, 2023, Exane BNP Paribas downgraded an Neutral rating on this stock.
For the past year, the stock price of Best Buy Co. Inc. fluctuated between $62.30 and $86.11. Currently, Wall Street analysts expect the stock to reach $98.81 within the next 12 months. Best Buy Co. Inc. [NYSE: BBY] shares were valued at $78.23 at the most recent close of the market. An investor can expect a potential return of 26.31% based on the average BBY price forecast.
Analyzing the BBY fundamentals
According to Best Buy Co. Inc. [NYSE:BBY], the company’s sales were 43.45B for trailing twelve months, which represents an -0.60% plunge. Gross Profit Margin for this corporation currently stands at 0.22% with Operating Profit Margin at 0.04%, Pretax Profit Margin comes in at 0.04%, and Net Profit Margin reading is 0.03%. To continue investigating profitability, this company’s Return on Assets is posted at 0.08, Equity is 0.43 and Total Capital is 0.25. An extended analysis of the company’s primary financial structure reveals a debt-to-equity ratio of0.58.
Before buying any particular stock, readers tend to pay close attention to the indicators that support and create resistance. The company’s stock is currently sitting at 76.72 points at the first support level, and at 75.21 for the second support level. However, for the 1st resistance point, the stock is sitting at 79.41, and for the 2nd resistance point, it is at 80.59.
Best Buy Co. Inc. [BBY] reported earnings per share of $2.72 for its fiscal quarter that ended on 1/30/2024. Based on the Wall Street analysts’ estimates, the company was expected to report earnings of $2.52/share, meaning a difference of $0.2 and a surprise factor of 7.90%. By comparison, the stated earnings for the previous quarter ended on 10/30/2023 were $1.29 per share as compared to estimates of $1.18 per share, a difference of $0.11 representing a surprise of 9.30%.
Ratios To Look Out For
It is important to note that Best Buy Co. Inc. [NYSE:BBY] has a current ratio of 1.00. On the other hand, the Quick Ratio is 0.37, and the Cash Ratio is 0.18. Considering the valuation of this stock, the price to sales ratio is 0.39, the price to book ratio is 5.52 and price to earnings (TTM) ratio is 13.76.
Transactions by insiders
Recent insider trading involved SCHULZE RICHARD M, Chairman Emeritus, that happened on Mar 08 ’24 when 0.24 million shares were sold. Chairman Emeritus, SCHULZE RICHARD M completed a deal on Mar 01 ’24 to sell 15522.0 shares. Meanwhile, GC, Chief Risk Officer Hartman Todd G. sold 6000.0 shares on Mar 01 ’24.
