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Best Buy (NYSE:BBY - Get Rating) had its price objective raised by equities research analysts at Truist Financial from $67.00 to $69.00 in a research note issued on Wednesday, The Fly reports. The brokerage presently has a "hold" rating on the technology retailer's stock. Truist Financial's price objective points to a potential downside of 3.97% from the stock's current price.

Other research analysts also recently issued reports about the stock. Citigroup boosted their price objective on shares of Best Buy from $59.00 to $61.00 and gave the company a "sell" rating in a research report on Wednesday. Wells Fargo & Company reduced their price objective on shares of Best Buy from $82.00 to $70.00 and set an "equal weight" rating for the company in a research note on Thursday, July 28th. Bank of America cut shares of Best Buy from a "buy" rating to a "neutral" rating in a research note on Tuesday, June 14th. StockNews.com cut shares of Best Buy from a "buy" rating to a "hold" rating in a research note on Friday, May 27th. Finally, Wedbush upped their target price on shares of Best Buy from $75.00 to $80.00 and gave the stock a "buy" rating in a report on Wednesday. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $86.13.

BBY stock traded down $3.04 during mid-day trading on Wednesday, hitting $71.85. 165,287 shares of the company were exchanged, compared to its average volume of 2,286,807. The company has a market capitalization of $16.18 billion, a PE ratio of 8.31, a price-to-earnings-growth ratio of 0.68 and a beta of 1.50. The company has a current ratio of 0.96, a quick ratio of 0.24 and a debt-to-equity ratio of 0.42. Best Buy has a twelve month low of $64.29 and a twelve month high of $141.97. The firm has a fifty day simple moving average of $74.75 and a 200 day simple moving average of $84.67.

Best Buy (NYSE:BBY - Get Rating) last released its quarterly earnings results on Tuesday, August 30th. The technology retailer reported $1.54 EPS for the quarter, topping analysts' consensus estimates of $1.27 by $0.27. Best Buy had a net margin of 4.33% and a return on equity of 63.39%. The company had revenue of $10.33 billion for the quarter, compared to the consensus estimate of $10.25 billion. During the same period in the previous year, the firm earned $2.98 EPS. Best Buy's revenue was down 12.8% on a year-over-year basis. On average, research analysts forecast that Best Buy will post 6.09 earnings per share for the current fiscal year.

In other news, CFO Matthew M. Bilunas sold 890 shares of the firm's stock in a transaction that occurred on Tuesday, August 23rd. The stock was sold at an average price of $79.09, for a total value of $70,390.10. Following the completion of the sale, the chief financial officer now directly owns 59,513 shares of the company's stock, valued at approximately $4,706,883.17. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO Matthew M. Bilunas sold 890 shares of the business's stock in a transaction on Tuesday, August 23rd. The stock was sold at an average price of $79.09, for a total transaction of $70,390.10. Following the transaction, the chief financial officer now directly owns 59,513 shares in the company, valued at approximately $4,706,883.17. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Corie S. Barry sold 4,388 shares of Best Buy stock in a transaction dated Tuesday, June 14th. The stock was sold at an average price of $70.00, for a total value of $307,160.00. Following the sale, the chief executive officer now directly owns 315,313 shares of the company's stock, valued at approximately $22,071,910. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 5,334 shares of company stock worth $381,538. 0.44% of the stock is owned by corporate insiders.

A number of large investors have recently made changes to their positions in BBY. Capital Advisory Group Advisory Services LLC acquired a new stake in shares of Best Buy in the first quarter valued at $27,000. BerganKDV Wealth Management LLC grew its holdings in shares of Best Buy by 13,566.7% during the second quarter. BerganKDV Wealth Management LLC now owns 410 shares of the technology retailer's stock worth $27,000 after buying an additional 407 shares during the last quarter. Clear Street Markets LLC lifted its position in Best Buy by 376.4% in the second quarter. Clear Street Markets LLC now owns 424 shares of the technology retailer's stock valued at $28,000 after purchasing an additional 335 shares during the period. Adirondack Trust Co. acquired a new stake in shares of Best Buy during the 1st quarter valued at approximately $30,000. Finally, Ellevest Inc. lifted its position in shares of Best Buy by 91.1% during the 2nd quarter. Ellevest Inc. now owns 472 shares of the technology retailer's stock valued at $31,000 after acquiring an additional 225 shares during the period. 79.86% of the stock is currently owned by hedge funds and other institutional investors.

Best Buy Co, Inc retails technology products in the United States and Canada. The company operates in two segments, Domestic and International. Its stores provide computing 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, home theater, portable audio comprising headphones and portable speakers, and smart home products.Featured ArticlesGet a free copy of the StockNews.com research report on Best Buy (BBY)Will The Institutions Buy The Dip In Ambarella Stock? PVH Corporation Is On Track For Capital ReturnsCan Pinterest Rally On Support From Big Investor With Conviction?Chargepoint Rallies, Despite Weaker EarningsIs Cadence Close To A Cup-With-High-Handle Breakout?

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