Ratings for Best Buy Co BBY were provided by 13 analysts in the past three months, showcasing a mix of bullish and bearish perspectives.
The table below provides a concise overview of recent ratings by analysts, offering insights into the changing sentiments over the past 30 days and drawing comparisons with the preceding months for a holistic perspective.
| Bullish | Somewhat Bullish | Indifferent | Somewhat Bearish | Bearish | |
|---|---|---|---|---|---|
| Total Ratings | 1 | 2 | 9 | 0 | 1 |
| Last 30D | 0 | 1 | 0 | 0 | 0 |
| 1M Ago | 1 | 1 | 8 | 0 | 1 |
| 2M Ago | 0 | 0 | 1 | 0 | 0 |
| 3M Ago | 0 | 0 | 0 | 0 | 0 |
Analysts' evaluations of 12-month price targets offer additional insights, showcasing an average target of $85.08, with a high estimate of $101.00 and a low estimate of $75.00. Witnessing a positive shift, the current average has risen by 11.1% from the previous average price target of $76.58.
Analyzing Analyst Ratings: A Detailed Breakdown
In examining recent analyst actions, we gain insights into how financial experts perceive Best Buy Co. The following summary outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.
| Analyst | Analyst Firm | Action Taken | Rating | Current Price Target | Prior Price Target |
|---|---|---|---|---|---|
| Christopher Horvers | JP Morgan | Raises | Overweight | $101.00 | $89.00 |
| Joseph Feldman | Telsey Advisory Group | Raises | Outperform | $95.00 | $85.00 |
| Simeon Gutman | Morgan Stanley | Raises | Equal-Weight | $82.00 | $80.00 |
| Steven Zaccone | Citigroup | Raises | Sell | $76.00 | $67.00 |
| Michael Lasser | UBS | Raises | Neutral | $85.00 | $82.00 |
| Christopher Horvers | JP Morgan | Raises | Neutral | $89.00 | $78.00 |
| Seth Sigman | Barclays | Raises | Equal-Weight | $81.00 | $69.00 |
| Kate McShane | Goldman Sachs | Raises | Buy | $90.00 | $81.00 |
| Seth Basham | Wedbush | Raises | Neutral | $85.00 | $75.00 |
| Scot Ciccarelli | Truist Securities | Raises | Hold | $87.00 | $68.00 |
| Joseph Feldman | Telsey Advisory Group | Raises | Market Perform | $85.00 | $75.00 |
| Joseph Feldman | Telsey Advisory Group | Maintains | Market Perform | $75.00 | - |
| Seth Basham | Wedbush | Raises | Neutral | $75.00 | $70.00 |
Key Insights:
- Action Taken: Responding to changing market dynamics and company performance, analysts update their recommendations. Whether they 'Maintain', 'Raise', or 'Lower' their stance, it signifies their response to recent developments related to Best Buy Co. This offers insight into analysts' perspectives on the current state of the company.
- Rating: Gaining insights, analysts provide qualitative assessments, ranging from 'Outperform' to 'Underperform'. These ratings reflect expectations for the relative performance of Best Buy Co compared to the broader market.
- Price Targets: Analysts provide insights into price targets, offering estimates for the future value of Best Buy Co's stock. This comparison reveals trends in analysts' expectations over time.
Considering these analyst evaluations in conjunction with other financial indicators can offer a comprehensive understanding of Best Buy Co's market position. Stay informed and make well-informed decisions with our Ratings Table.
Stay up to date on Best Buy Co analyst ratings.
About Best Buy Co
With $43.5 billion in consolidated 2023 sales, Best Buy is the largest pure-play consumer electronics retailer in the U.S., boasting roughly 8.3% share of the North American market and north of 33% share of offline sales in the region, per our calculations, CTA, and Euromonitor data. The firm generates the bulk of its sales in-store, with mobile phones and tablets, computers, and appliances representing its three largest categories. Recent investments in e-commerce fulfillment, accelerated by the COVID-19 pandemic, have seen the U.S. e-commerce channel roughly double from prepandemic levels, with management estimating that it will represent a mid-30% proportion of sales moving forward.
Financial Insights: Best Buy Co
Market Capitalization: Positioned above industry average, the company's market capitalization underscores its superiority in size, indicative of a strong market presence.
Negative Revenue Trend: Examining Best Buy Co's financials over 3 months reveals challenges. As of 31 January, 2024, the company experienced a decline of approximately -0.6% in revenue growth, reflecting a decrease in top-line earnings. When compared to others in the Consumer Discretionary sector, the company excelled with a growth rate higher than the average among peers.
Net Margin: The company's net margin is a standout performer, exceeding industry averages. With an impressive net margin of 3.14%, the company showcases strong profitability and effective cost control.
Return on Equity (ROE): Best Buy Co's ROE excels beyond industry benchmarks, reaching 15.69%. This signifies robust financial management and efficient use of shareholder equity capital.
Return on Assets (ROA): Best Buy Co's financial strength is reflected in its exceptional ROA, which exceeds industry averages. With a remarkable ROA of 2.89%, the company showcases efficient use of assets and strong financial health.
Debt Management: Best Buy Co's debt-to-equity ratio is below the industry average. With a ratio of 1.3, the company relies less on debt financing, maintaining a healthier balance between debt and equity, which can be viewed positively by investors.
How Are Analyst Ratings Determined?
Analysts are specialists within banking and financial systems that typically report for specific stocks or within defined sectors. These people research company financial statements, sit in conference calls and meetings, and speak with relevant insiders to determine what are known as analyst ratings for stocks. Typically, analysts will rate each stock once a quarter.
In addition to their assessments, some analysts extend their insights by offering predictions for key metrics such as earnings, revenue, and growth estimates. This supplementary information provides further guidance for traders. It is crucial to recognize that, despite their specialization, analysts are human and can only provide forecasts based on their beliefs.
This article was generated by Benzinga's automated content engine and reviewed by an editor.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
|---|
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
