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Best Buy (NYSE:BBY - Get Rating) had its target price lowered by investment analysts at Telsey Advisory Group from $130.00 to $90.00 in a research report issued to clients and investors on Friday, Stock Target Advisor reports. The firm currently has an "outperform" rating on the technology retailer's stock. Telsey Advisory Group's price target points to a potential upside of 22.75% from the stock's previous close.

Several other equities research analysts also recently commented on BBY. Wedbush reduced their target price on Best Buy from $110.00 to $80.00 and set a "neutral" rating for the company in a report on Monday. Wells Fargo & Company reduced their target price on Best Buy from $110.00 to $90.00 and set a "buy" rating for the company in a report on Monday, February 28th. Truist Financial reduced their target price on Best Buy to $83.00 and set a "hold" rating for the company in a report on Thursday. Citigroup reduced their target price on Best Buy from $100.00 to $80.00 and set a "buy" rating for the company in a report on Friday, May 13th. Finally, Guggenheim reduced their target price on Best Buy from $140.00 to $130.00 and set a "buy" rating for the company in a report on Friday, March 4th. Five analysts have rated the stock with a hold rating and twelve have given a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Buy" and a consensus target price of $110.87.

Shares of NYSE BBY opened at $73.32 on Friday. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.99 and a quick ratio of 0.43. The stock has a fifty day moving average price of $92.97 and a 200 day moving average price of $101.54. Best Buy has a 1-year low of $72.36 and a 1-year high of $141.97. The company has a market cap of $16.49 billion, a PE ratio of 7.45, a P/E/G ratio of 0.89 and a beta of 1.42.

Best Buy (NYSE:BBY - Get Rating) last released its quarterly earnings results on Thursday, March 3rd. The technology retailer reported $2.73 EPS for the quarter, hitting the consensus estimate of $2.73. The firm had revenue of $16.37 billion for the quarter, compared to analyst estimates of $16.54 billion. Best Buy had a return on equity of 63.23% and a net margin of 4.74%. Best Buy's revenue for the quarter was down 3.4% on a year-over-year basis. During the same period in the previous year, the company posted $3.48 EPS. Analysts anticipate that Best Buy will post 8.94 earnings per share for the current fiscal year.

In other Best Buy news, insider Todd G. Hartman sold 2,000 shares of Best Buy stock in a transaction dated Wednesday, March 9th. The stock was sold at an average price of $101.73, for a total transaction of $203,460.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Todd G. Hartman sold 1,188 shares of Best Buy stock in a transaction dated Thursday, April 21st. The stock was sold at an average price of $95.72, for a total value of $113,715.36. Following the transaction, the insider now owns 34,513 shares in the company, valued at $3,303,584.36. The disclosure for this sale can be found here. Insiders sold a total of 36,955 shares of company stock valued at $3,662,097 over the last three months. Insiders own 0.36% of the company's stock.

Several institutional investors have recently modified their holdings of the company. Counterpoint Mutual Funds LLC acquired a new stake in shares of Best Buy in the fourth quarter valued at about $25,000. Stonebridge Capital Advisors LLC lifted its stake in shares of Best Buy by 65.4% in the 3rd quarter. Stonebridge Capital Advisors LLC now owns 253 shares of the technology retailer's stock valued at $27,000 after acquiring an additional 100 shares during the last quarter. Jacobi Capital Management LLC bought a new position in shares of Best Buy in the 3rd quarter valued at $29,000. Concord Wealth Partners lifted its stake in shares of Best Buy by 1,016.0% in the 4th quarter. Concord Wealth Partners now owns 279 shares of the technology retailer's stock valued at $28,000 after acquiring an additional 254 shares during the last quarter. Finally, Capital Advisory Group Advisory Services LLC bought a new position in shares of Best Buy in the 1st quarter valued at $27,000. Institutional investors own 80.79% of the company's stock.

About Best Buy (Get Rating)

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.

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