Is Best Buy Co. Inc. (BBY) Price Targeted To Increase?


As of Friday close, Best Buy Co. Inc.’s (NYSE:BBY) stock was down -$0.36, moving down -0.47 percent to $76.73. The average number of shares traded per day over the past five days has been 4,202,520 shares. 1 time new highs have been achieved over the past 5 days, with a -$1.88 fall in that time frame. In the last twenty days, the average volume was 3,022,035, while in the previous 50 days, it was 2,418,370.

Since last month, BBY stock retreated -13.74%. Shares of the company fell to $73.21 on 03/15/23, the lowest level in the past month. A 52-week high of $103.23 was reached on 02/02/23 after having rallying from a 52-week low of $60.78. Since the beginning of this year, BBY’s stock price has dropped by -4.34% or -$3.48, and marked a new high 10 times. However, the stock has declined by -25.67% since its 52-week high.

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BBY stock investors should be aware that Best Buy Co. Inc. (BBY) stock had its last reported insider trading activity 15 days ago on Mar 03. Bonfig Jason J, the Chief Merchandising Officer of the company, disposed of 9,500 shares for $82.31 on Mar 03. It resulted in a $781,964 divestment by the insider. Harmon Damien sold 2,500 shares at an average price of $79.99 on Dec 23. The insider now owns 42,805 shares following the transaction. On Nov 28, Chairman Emeritus SCHULZE RICHARD M sold 366,100 shares at $81.94 apiece. The transaction was valued at $29,999,014.

Valuation Metrics

Right now, Best Buy Co. Inc. (BBY) has a P/E ratio of about 12.17. The stock’s beta is 1.54. Besides these, the trailing price-to-sales (P/S) ratio of 0.37, the price-to-book (PB) ratio of 5.78, and the price-to-cash flow ratio of 191.70 may also be considered.

The latest dividend of $0.92 per share was paid out, which is 4.55% more than last year’s $0.88.

Financial Health

In the three months ended October 30, Best Buy Co. Inc.’s quick ratio stood at 0.30, while its current ratio was 1.00, showing that the company is not able to pay off its debt. According to company report, the long-term debt-to-equity ratio for the quarter ending October 30 was 0.38, and the total debt-to-equity ratio was 0.39. On the profitability front, the trailing twelve-month gross margin is 21.40% percent. In the year ended October 30, operating margins totaled 5.00%. Based on annual data, BBY earned $9.91 billion in gross profit and brought in $46.3 billion in revenue.

A company’s management is another factor that investors consider when determining the profitability of an investment. In the past year, return on investment (ROI) was 58.00%. Return on equity (ROE) for the past 12 months was 60.70%.

In Best Buy Co. Inc.’s quarter-end financial report for October 30, it reported total debt of $1.14 billion. According to the earnings report, the company had a higher net income in the recent quarter than it did in the previous quarter. BBY’s revenue fell -12.5% to $10.33 billion during the quarter, while net income inched up to $10.59 billion. While analysts expected Best Buy Co. Inc. to report $1.03 quarterly earnings, the actual figure was $1.38 per share, beating the consensus estimate by 34.00%. The liabilities of Best Buy Co. Inc. were 13.01 billion at the end of its most recent quarter ended October 30, and its total debt was $4.04 billion.

Technical Picture

This quick technical analysis looks at Best Buy Co. Inc.’s (BBY) price momentum. With a historical volatility rate of 25.18%, the RSI 9-day stood at 33.93% on 17 March.

With respect to its five-day moving average, the current Best Buy Co. Inc. price is down by -2.39% percent or -$1.88. At present, BBY shares trade -13.00% below its 20-day simple moving average and +20.32% percent above its 100-day simple moving average. However, the stock is currently trading approximately -6.36% below its SMA50 and -6.50% below its SMA200.

Stochastic coefficient K was 28.43% and Stochastic coefficient D was 19.42%, while ATR was 2.40. Given the Stochastic reading of 31.71% for the 14-day period, the RSI (14) reading has been calculated as 35.68%. As of today, the MACD Oscillator reading stands at -1.43, while the 14-day reading stands at -3.04.

Analyst Ratings

Best Buy Co. Inc. downgraded its rating on Best Buy Co. Inc. (NYSE: BBY) to a Market perform in a note to investors on February 27, 2023. The analysts firm previously had an Outperform rating on the stock.Best Buy Co. Inc. (BBY) has been rated Hold by analysts. According to 2 brokerage firms, BBY is a sell, and 21 firms recommend it is a Hold. There are 1 analyst who say the stock is underweight. A total of 1 analyst rate Best Buy Co. Inc. stock as buy, with 4 recommending it as overweight.


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