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BBBY

Bed Bath & Beyond

$11.54

0.11 (0.96%)

09:27
07/11/19
07/11
09:27
07/11/19
09:27

Bed Bath & Beyond off to 'rough start' in FY19, says Loop Capital

Loop Capital analyst Anthony Chukumba kept his Hold rating and $12 price target on Bed Bath & Beyond, saying the company is starting FY19 with the "worst comparable sales drop in recent memory", while the degradation of its gross margins and SG&A expense deleverage resulted in a "substantial" decline in its earnings. The analyst adds that the management's focus on near-term strategic priorities is "sensible", but given the lack of permanent senior management, he sees Bed Bath & Beyond stock as a "show me" story.

  • 25

    Jul

BBBY Bed Bath & Beyond
$11.54

0.11 (0.96%)

07/11/19
JEFF
07/11/19
NO CHANGE
Target $13
JEFF
Hold
Bed Bath & Beyond price target lowered to $13 from $17 at Jefferies
Jefferies analyst Jonathan Matuszewski lowered his price target for Bed Bath & Beyond to $13 from $17 saying the company's sales and margins continue to disappoint. The analyst prefers to remain on the sidelines "until evidence of inflecting trends." He keeps a Hold rating on the name following last night's fiscal Q1 results.
07/11/19
BARD
07/11/19
NO CHANGE
Target $13
BARD
Neutral
Bed Bath & Beyond price target lowered to $13 from $18 at Baird
Baird analyst Peter Benedict lowered his price target for Bed Bath & Beyond to $13 from $18 and maintained a Neutral rating following the company's quarterly results. In a research note to investors, Benedict says that while adjusted EPS exceeded expectations, a lower tax rate/share count was required to offset an EBIT shortfall. While management remains focused on stabilizing sales in fiscal 2020, Benedict says he sees "little evidence" of an inflection on the horizon without sacrificing margins.
07/11/19
GSCO
07/11/19
INITIATION
Target $11
GSCO
Sell
Bed Bath & Beyond initiated with a Sell at Goldman Sachs
Goldman Sachs analyst Kate McShane started Bed Bath & Beyond with a Sell rating and $11 price target. Weak in-store trends and over-reliance on coupons as a traffic driver have led to significant pressure on sales and margins, McShane tells investors in a research note. She expects expect Bed Bath & Beyond will face ongoing sales declines and market share losses resulting from a high level of competition in the industry and continued challenges with its store fleet.
07/09/19
LOOP
07/09/19
NO CHANGE
Target $12
LOOP
Hold
Bed Bath & Beyond price target lowered to $12 from $16 at Loop Capital
Loop Capital analyst Anthony Chukumba lowered his price target on Bed Bath & Beyond (BBBY) to $12 to reflect the "uncertainty" surrounding the company's management team and turnaround strategy, even though the most recent pricing study relative to Amazon (AMZN) saw a slight narrowing in pricing average to 10.6% from 12.5% premium in April. The analyst also maintains a Hold rating on Bed Bath & Beyond, saying the company has a long road ahead to reverse its long string of fundamental underperformance.

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