Telsey Advisory Group Reaffirms Outperform Rating for Best Buy (NYSE:BBY)

Best Buy (NYSE:BBY - Get Free Report)'s stock had its "outperform" rating restated by research analysts at Telsey Advisory Group in a research report issued to clients and investors on Friday,Benzinga reports. They presently have a $90.00 price target on the technology retailer's stock. Telsey Advisory Group's price objective suggests a potential upside of 24.29% from the company's current price.

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Several other research firms have also recently commented on BBY. Guggenheim reaffirmed a "buy" rating and issued a $90.00 target price on shares of Best Buy in a research report on Tuesday, June 10th. Loop Capital dropped their target price on shares of Best Buy from $90.00 to $80.00 and set a "buy" rating for the company in a research report on Friday, May 30th. BNP Paribas raised shares of Best Buy to a "hold" rating in a research report on Friday, May 30th. UBS Group dropped their target price on shares of Best Buy from $95.00 to $90.00 and set a "buy" rating for the company in a research report on Friday, May 30th. Finally, Truist Financial raised their target price on shares of Best Buy from $64.00 to $69.00 and gave the stock a "hold" rating in a research report on Friday, May 30th. Eight investment analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $85.72.

Read Our Latest Report on Best Buy

Best Buy Trading Up 0.2%

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Shares of BBY opened at $72.4140 on Friday. The stock has a market capitalization of $15.30 billion, a P/E ratio of 17.71, a PEG ratio of 1.91 and a beta of 1.21. The company has a quick ratio of 0.32, a current ratio of 1.02 and a debt-to-equity ratio of 0.42. The firm has a fifty day simple moving average of $69.18 and a two-hundred day simple moving average of $71.96. Best Buy has a twelve month low of $54.99 and a twelve month high of $103.71.

Best Buy (NYSE:BBY - Get Free Report) last announced its quarterly earnings results on Thursday, May 29th. The technology retailer reported $1.15 earnings per share for the quarter, beating the consensus estimate of $1.09 by $0.06. The business had revenue of $8.77 billion during the quarter, compared to analysts' expectations of $8.77 billion. Best Buy had a net margin of 2.13% and a return on equity of 46.40%. The firm's revenue for the quarter was down .9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.20 EPS. Best Buy has set its FY 2026 guidance at 6.150-6.300 EPS. On average, research analysts anticipate that Best Buy will post 6.18 EPS for the current year.

Insider Activity at Best Buy

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In other news, Chairman Richard M. Schulze sold 729,201 shares of Best Buy stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $72.95, for a total value of $53,195,212.95. Following the completion of the sale, the chairman directly owned 196,100 shares in the company, valued at $14,305,495. The trade was a 78.81% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.47% of the stock is owned by corporate insiders.

Institutional Trading of Best Buy

A number of large investors have recently made changes to their positions in BBY. LRI Investments LLC lifted its holdings in Best Buy by 36.3% during the fourth quarter. LRI Investments LLC now owns 529 shares of the technology retailer's stock valued at $45,000 after purchasing an additional 141 shares in the last quarter. Panagora Asset Management Inc. lifted its holdings in Best Buy by 1.5% during the second quarter. Panagora Asset Management Inc. now owns 9,513 shares of the technology retailer's stock valued at $639,000 after purchasing an additional 144 shares in the last quarter. Prosperity Consulting Group LLC lifted its holdings in Best Buy by 6.4% during the fourth quarter. Prosperity Consulting Group LLC now owns 2,404 shares of the technology retailer's stock valued at $206,000 after purchasing an additional 145 shares in the last quarter. Community Bank & Trust Waco Texas lifted its holdings in Best Buy by 0.5% during the first quarter. Community Bank & Trust Waco Texas now owns 30,970 shares of the technology retailer's stock valued at $2,280,000 after purchasing an additional 145 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB lifted its holdings in Best Buy by 25.6% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 721 shares of the technology retailer's stock valued at $53,000 after purchasing an additional 147 shares in the last quarter. 80.96% of the stock is currently owned by institutional investors.

About Best Buy

Best Buy Co, Inc engages in the retail of technology products in the United States, Canada, and international. Its stores provide computing and mobile phone products, such as desktops, notebooks, and peripherals; mobile phones comprising related mobile network carrier commissions; networking products; tablets covering e-readers; smartwatches; and consumer electronics consisting of digital imaging, health and fitness products, portable audio comprising headphones and portable speakers, and smart home products, as well as home theaters, which includes home theater accessories, soundbars, and televisions.

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