Best Buy (NYSE:BBY) Stock Rating Lowered by Telsey Advisory Group

Best Buy (NYSE:BBY) was downgraded by Telsey Advisory Group from an “outperform” rating to a “market perform” rating in a note issued to investors on Thursday, MarketBeat.com reports. They presently have a $95.00 price objective on the technology retailer’s stock. Telsey Advisory Group’s price objective would indicate a potential upside of 32.85% from the stock’s previous close. Telsey Advisory Group also issued estimates for Best Buy’s Q1 2026 earnings at $1.20 EPS, Q2 2026 earnings at $1.38 EPS, Q3 2026 earnings at $1.47 EPS and Q4 2026 earnings at $2.77 EPS.

BBY has been the subject of several other reports. The Goldman Sachs Group raised their target price on shares of Best Buy from $81.00 to $90.00 and gave the company a “buy” rating in a research note on Friday, March 1st. Barclays raised their target price on shares of Best Buy from $69.00 to $88.00 and gave the company an “equal weight” rating in a research note on Friday, March 1st. Morgan Stanley boosted their price target on Best Buy from $80.00 to $82.00 and gave the stock an “equal weight” rating in a research report on Friday, March 1st. TheStreet raised Best Buy from a “c” rating to a “b-” rating in a research report on Thursday, February 29th. Finally, JPMorgan Chase & Co. raised Best Buy from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $89.00 to $101.00 in a report on Friday, March 22nd. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $84.00.

Best Buy Trading Up 2.7 %

Shares of NYSE BBY opened at $71.51 on Thursday. The company’s 50 day simple moving average is $76.44 and its 200 day simple moving average is $74.82. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.00 and a quick ratio of 0.37. Best Buy has a fifty-two week low of $62.30 and a fifty-two week high of $86.11. The firm has a market capitalization of $15.47 billion, a P/E ratio of 12.57, a P/E/G ratio of 2.11 and a beta of 1.50.

Best Buy (NYSE:BBY) last released its quarterly earnings data on Thursday, February 29th. The technology retailer reported $2.72 earnings per share for the quarter, beating the consensus estimate of $2.51 by $0.21. Best Buy had a return on equity of 48.45% and a net margin of 2.86%. The business had revenue of $14.65 billion for the quarter, compared to analysts’ expectations of $14.58 billion. During the same quarter in the previous year, the business posted $2.61 EPS. Best Buy’s revenue for the quarter was down .6% on a year-over-year basis. On average, analysts predict that Best Buy will post 6.03 EPS for the current year.

Insiders Place Their Bets

In other news, insider Todd G. Hartman sold 3,973 shares of the business’s stock in a transaction that occurred on Friday, March 22nd. The stock was sold at an average price of $81.80, for a total transaction of $324,991.40. Following the transaction, the insider now directly owns 25,912 shares of the company’s stock, valued at $2,119,601.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, CAO Mathew Watson sold 2,505 shares of the stock in a transaction dated Friday, March 22nd. The shares were sold at an average price of $81.80, for a total transaction of $204,909.00. Following the sale, the chief accounting officer now directly owns 25,638 shares of the company’s stock, valued at approximately $2,097,188.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Todd G. Hartman sold 3,973 shares of the stock in a transaction on Friday, March 22nd. The shares were sold at an average price of $81.80, for a total value of $324,991.40. Following the sale, the insider now owns 25,912 shares in the company, valued at $2,119,601.60. The disclosure for this sale can be found here. Insiders sold 52,023 shares of company stock valued at $4,253,900 over the last three months. Insiders own 0.59% of the company’s stock.

Hedge Funds Weigh In On Best Buy

Hedge funds and other institutional investors have recently modified their holdings of the company. Cary Street Partners Investment Advisory LLC boosted its stake in shares of Best Buy by 549.1% during the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 357 shares of the technology retailer’s stock worth $25,000 after acquiring an additional 302 shares during the last quarter. Bfsg LLC purchased a new position in Best Buy during the fourth quarter valued at $25,000. Rise Advisors LLC grew its holdings in Best Buy by 69.5% during the first quarter. Rise Advisors LLC now owns 322 shares of the technology retailer’s stock valued at $26,000 after purchasing an additional 132 shares during the period. Naples Money Management LLC purchased a new stake in Best Buy in the fourth quarter worth about $27,000. Finally, Access Investment Management LLC bought a new position in shares of Best Buy in the fourth quarter worth about $27,000. 80.96% of the stock is 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.