On the upside, Bed Bath & Beyond Inc. (NASDAQ:BBBY) will test short term resistance at around $15.85. On a downside, the share price is likely to find some support, which begins at $14.32. The failure to get near-term support could push it to $13.42. Its 50 day simple moving average (SMA 50) price is $12.7 and its 200-day simple moving average (SMA 200) price is $16.7. The company’s stock currently has a total float of 133.3M shares. Its weekly volatility is hovering around 7.77% and felt 6.18% volatility in price over a month.
BBBY stock has been range bound between the range of $14.04 and $14.04 during the whole day. The stock finished Friday at $15.23. The 6.58% uptrend helped its market value to reach at $2.04B. The price went up as high as $14.04 before retreating. Trading activity significantly improved as the volume at ready counter increased to 26,441,412 shares versus 10,316,960 in average daily trading volume over the past 20 days. So far this year, the volume has averaged about 17,145,236 shares. The stock is now 45.6% above against its bear-market low of $10.46 on December 24, 2018. It has retreated -58.11% since it’s 52-week high of $24.08 reached in January. Now the market price is down -28.53% on the year and up 34.54% YTD.
Separately, it has been reported that multiple insider activity took place at Bed Bath & Beyond Inc. (BBBY). President and COO Castagna Eugene A sold 25,000 shares for $124,255 in transaction occurred on 2018/07/05. After making this transaction, the President and COO owns a direct stake of 520,250 shares, worth $1,892,404, as per the last closing price. On 2017/12/28 Fiorilli Matthew, Senior VP – Stores at BBBY, dumped 16,957 shares at an average price of $22.62 per share. The selling total is valued at $1,483,691.
CEO, Temares Steven H had divested 96,109 shares for $602,415 through a trade on 2017/05/09. Following this activity, the insider holds 3,591,593 shares worth $9,174,780 as of recent close. Wall Street’s most bullish Bed Bath & Beyond Inc. (NASDAQ:BBBY) analysts are predicting the share price to blow past $16 per share during the next 12 months. The current median share price forecast by them is $13, suggesting that the stock could increase -14.64% in that time frame. The average price target of $12.73 calls for a nearly -16.41% increase in the stock price.
It had seen a change in price target from analysts at Wolfe Research, who reiterated the stock at Underperform on January 11 but moved PT from $9 to $12. Analysts at Telsey Advisory Group, maintained the company shares at Market Perform on January 04 but switched target price from $16 to $13. The stock lost favor of Argus analysts who expressed their lack of confidence in it using a downgrade from Buy to Hold on October 01. Telsey Advisory Group, reiterated their call for Market Perform, on September 27. On the other hand, they had set new target price to $16 versus $20.
When looking at valuations, Bed Bath & Beyond Inc. (BBBY) has a cheap P/E of 6.5x as compared to industry average of 28.39x. Moreover, it trades for 8.72 times the next 12 months of expected earnings. Also, it is trading at rather inexpensive levels at just over 0.7x price/book and 0.16x price/sales. Compared to others, Bed Bath & Beyond Inc. is in a different league with regards to profitability, having net margins of 2.5%. To put some perspective around this, the industry’s average net margin is 11.15%. BBBY’s ROE is 10.7%, which is also considerably worse than the industry’s ROE of 15.92%. It’s also very liquid in the near term, with a current ratio of 1.7. The stock has a debt/capital of 0.51.
Shares of Bed Bath & Beyond Inc. (BBBY) have gained 62.6% since the company’s May-19 earnings report. Over the past 12 fiscal quarters, Bed Bath & Beyond Inc. (NASDAQ:BBBY) has topped consensus earnings estimates in 6 quarters (50%), missed earnings in 6 quarters (50%), whereas at 0 occasion EPS met analyst expectations. BBBY last reported earnings on January 09, 2019 when it released Aug-18 results that receded expectations. The company raked in $0.36 per share, -98.7% change on the same period last year. That was worse than consensus for $0.5. Revenue for the recent quarter stood at $2.94 billion, down 0% on last year and below the $2.96 billion predicted by analysts. For this quarter, Wall Street analysts forecast revenue in a range of $2.71 billion to $2.82 billion, which should be compared with $2.8 billion generated last year. EPS is seen in a range of $0.25 to $0.34, against the $0.55 reported a year ago.