Best Buy Co. Inc. (NYSE: BBY) has seen a rise in its stock price by 2.20 in relation to its previous close of 66.75. However, the company has experienced a 6.39% gain in its stock price over the last five trading sessions. Barrons reported 2023-11-19 that Nvidia reports earnings this week and the latest Federal Open Market Committee releases its latest meeting minutes.
Is It Worth Investing in Best Buy Co. Inc. (NYSE: BBY) Right Now?
Best Buy Co. Inc. (NYSE: BBY) has a price-to-earnings ratio that is above its average at 11.73x. and a 36-month beta value of 1.52. Opinions on the stock are mixed, with 5 analysts rating it as a “buy,” 2 as “overweight,” 19 as “hold,” and 2 as “sell.”
The average price predicted for Best Buy Co. Inc. (BBY) by analysts is $76.96, which is $8.74 above the current market price. The public float for BBY is 193.62M, and at present, short sellers hold a 6.59% of that float. On November 20, 2023, the average trading volume of BBY was 2.39M shares.
BBY’s Market Performance
BBY’s stock has seen a 6.39% increase for the week, with a -1.84% drop in the past month and a -13.51% fall in the past quarter. The volatility ratio for the week is 2.57%, and the volatility levels for the past 30 days are at 2.40% for Best Buy Co. Inc. The simple moving average for the past 20 days is 3.11% for BBY’s stock, with a -9.87% simple moving average for the past 200 days.
Analysts’ Opinion of BBY
Many brokerage firms have already submitted their reports for BBY stocks, with Goldman repeating the rating for BBY by listing it as a “Buy.” The predicted price for BBY in the upcoming period, according to Goldman is $85 based on the research report published on October 19, 2023 of the current year 2023.
BBY Trading at -0.60% from the 50-Day Moving Average
After a stumble in the market that brought BBY to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -26.90% of loss for the given period.
Volatility was left at 2.40%, however, over the last 30 days, the volatility rate increased by 2.57%, as shares sank -0.67% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -6.84% lower at present.
During the last 5 trading sessions, BBY rose by +6.39%, which changed the moving average for the period of 200-days by -25.38% in comparison to the 20-day moving average, which settled at $66.14. In addition, Best Buy Co. Inc. saw -14.95% in overturn over a single year, with a tendency to cut further losses.
Reports are indicating that there were more than several insider trading activities at BBY starting from Hartman Todd G., who sale 7,948 shares at the price of $69.38 back on Sep 22. After this action, Hartman Todd G. now owns 13,337 shares of Best Buy Co. Inc., valued at $551,423 using the latest closing price.
Hartman Todd G., the GC, Chief Risk Officer of Best Buy Co. Inc., sale 5,000 shares at $71.18 during a trade that took place back on Sep 20, which means that Hartman Todd G. is holding 21,285 shares at $355,894 based on the most recent closing price.
Stock Fundamentals for BBY
Current profitability levels for the company are sitting at:
- +4.17 for the present operating margin
- +21.22 for the gross margin
The net margin for Best Buy Co. Inc. stands at +3.06. The total capital return value is set at 28.11, while invested capital returns managed to touch 22.86. Equity return is now at value 45.05, with 8.39 for asset returns.
Based on Best Buy Co. Inc. (BBY), the company’s capital structure generated 142.33 points at debt to equity in total, while total debt to capital is 58.73. Total debt to assets is 25.17, with long-term debt to equity ratio resting at 118.93. Finally, the long-term debt to capital ratio is 49.08.
When we switch over and look at the enterprise to sales, we see a ratio of 0.37, with the company’s debt to enterprise value settled at 0.19. The receivables turnover for the company is 42.42 and the total asset turnover is 2.78. The liquidity ratio also appears to be rather interesting for investors as it stands at 0.98.
To sum up, Best Buy Co. Inc. (BBY) has seen a bad performance recently. Analysts have differing views on the stock, with some seeing it as a “buy” and others as a “hold”. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.