Bed Bath & Beyond (NASDAQ:BBBY) Rating was Decreased by Analysts at Wolfe Research to a “Underperform” Rating

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London Bed Bath & Beyond NASDAQ:BBBY

Bed Bath & Beyond (NASDAQ:BBBY) Rating Change

Wolfe Research has downgraded Bed Bath & Beyond (NASDAQ:BBBY) stock to “Underperform” in a research report revealed to clients on Monday, 19 June. BBBY’s old rating was “Peer Perform”.

In spite of this stock rating downgrade NASDAQ:BBBY is now trading 0.08% higher at $35.36 as of 6:02 AM New York time. Bed Bath & Beyond shares have [From2] 0% over the past 200 days, while the S&P 500 has surged 6.00% over the same time.

According to data compiled by Thomson Reuters, Bed Bath & Beyond (NASDAQ:BBBY)’s stock is covered by 19 equity analysts across the Street, with 6 analysts giving it a Sell rating, 2 a Buy rating, while 19 consider it a Hold. The 12-month consensus target price for the stock is $47.74, which reflects an upside potential of 35.01% over the current price.

Institutional Ownership

Sather Financial Group Inc had the most significant stake with ownership of 216,350 shares as of Q2 2015 for 3.56% of the stock exposure. Wilsey Asset Management Inc is another very bullish institutional investor who is having 100,975 shares of Bed Bath & Beyond or 3.42% of their stock exposure. Moreover, Speece Thorson Capital Group Inc have 2.95% of their stock exposure invested in the company for 318,873 shares. The New York-based fund Breithorn Capital Management disclosed it had purchased so far a stake worth about 2.45% of the institutional investor’s stock portfolio in Bed Bath & Beyond. The Illinois-based fund William Harris Investors Inc is also positive about the stock, possessing 75,925 shares or 2.36% of their stock exposure.

Bed Bath & Beyond (NASDAQ:BBBY) Profile

Bed Bath & Beyond IncBed Bath & Beyond Inc. is a retailer, which operates under the names Bed Bath & Beyond (BBB), Christmas Tree Shops, Christmas Tree Shops andThat! or andThat! (collectively, CTS), Harmon or Harmon Face Values (collectively, Harmon), buybuy BABY (Baby) and World Market, Cost Plus World Market or Cost Plus (collectively, Cost Plus World Market). The Company operates in two segments: North American Retail and Institutional Sales. The Company sells a range of domestics merchandise and home furnishings.

Bed Bath & Beyond (NASDAQ:BBBY) traded up 0.08% on 19 June, hitting $35.36. A total of 1.21 million shares of the company’s stock traded hands. This is down from average of 2.48 million shares. Bed Bath & Beyond has a 52 week low of $33.63 and a 52 week high of $48.83. The company has a market cap of $5.01 billion and a P/E ratio of 7.69.

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