A share price of Best Buy Co. Inc. [BBY] is currently trading at $80.72, down -1.15%. It is a good measure of the stock’s recent performance to check whether the stock’s short-term value is rising or falling. The BBY shares have gain 4.65% over the last week, with a monthly amount glided 5.82%, and seem to be holding up well over a long-time horizon.
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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 22, 2024, when JP Morgan upgraded its rating to a Overweight and also boosted its price target to $101 from $89. Previously, Telsey Advisory Group upgraded its rating to Outperform on March 20, 2024, and elevated its price target to $95. On March 01, 2024, Telsey Advisory Group reiterated its Market Perform rating and revised its price target to $85 on the stock. Jefferies upgraded its rating to a Buy and increased its price target to $89 on December 11, 2023. Telsey Advisory Group reiterated its recommendation of a Market Perform and reduced its price target to $75 on November 22, 2023. Goldman upgraded its rating to Buy for this stock on October 19, 2023, and upped its price target to $85. In a note dated February 27, 2023, Telsey Advisory Group downgraded an Market Perform rating on this stock and revised its target price from $88 to $83.
Best Buy Co. Inc. experienced fluctuations in its stock price throughout the past year between $62.30 and $86.11. Currently, Wall Street analysts expect the stock to reach $100.06 within the next 12 months. Best Buy Co. Inc. [NYSE: BBY] shares were valued at $80.72 at the most recent close of the market. An investor can expect a potential return of 23.96% based on the average BBY price forecast.
Analyzing the BBY fundamentals
Trailing Twelve Months sales for Best Buy Co. Inc. [NYSE:BBY] were 43.45B which represents -0.60% decline. 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. Upon thorough examination of the company’s fundamental financial framework, it becomes apparent that the debt-to-equity ratio stands at 0.58.
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 80.07 points at the first support level, and at 79.41 for the second support level. However, for the 1st resistance point, the stock is sitting at 81.88, and for the 2nd resistance point, it is at 83.03.
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
To put it in perspective, the Current Ratio for Best Buy Co. Inc. [NYSE:BBY] is 1.00. Further, the Quick Ratio stands at 0.37, while the Cash Ratio is 0.18. Considering the valuation of this stock, the price to sales ratio is 0.40, the price to book ratio is 5.70 and price to earnings (TTM) ratio is 14.19.
Transactions by insiders
Recent insider trading involved Barry Corie S, CEO, that happened on Mar 22 ’24 when 28042.0 shares were sold. SEVP Enterprise Strategy & CFO, Bilunas Matthew M completed a deal on Mar 22 ’24 to sell 8258.0 shares. Meanwhile, SEVP Cust. Offerings & Fulfill Bonfig Jason J sold 7117.0 shares on Mar 22 ’24.
