Best Buy Co. Inc. (NYSE: BBY)’s stock price has gone decline by -2.19 in comparison to its previous close of 78.00, however, the company has experienced a -4.80% decrease in its stock price over the last five trading days. InvestorPlace reported 2024-04-15 that Last month, the economy added 303,000 nonfarm payrolls, potentially translating to a swing higher in consumer cyclical stocks. More dollars are chasing after fewer goods.
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 13.41x. The stock has a 36-month beta value of 1.51. Opinions on the stock are mixed, with 5 analysts rating it as a “buy,” 2 as “overweight,” 16 as “hold,” and 0 as “sell.”
The public float for BBY is 192.65M, and at present, short sellers hold a 7.64% of that float. On April 16, 2024, the average trading volume of BBY was 3.14M shares.
BBY’s Market Performance
The stock of Best Buy Co. Inc. (BBY) has seen a -4.80% decrease in the past week, with a -1.51% drop in the past month, and a 3.29% gain in the past quarter. The volatility ratio for the week is 3.17%, and the volatility levels for the past 30 days are at 2.48% for BBY. The simple moving average for the last 20 days is -4.58% for BBY’s stock, with a simple moving average of 1.75% for the last 200 days.
Analysts’ Opinion of BBY
Many brokerage firms have already submitted their reports for BBY stocks, with Jefferies repeating the rating for BBY by listing it as a “Buy.” The predicted price for BBY in the upcoming period, according to Jefferies is $94 based on the research report published on April 08, 2024 of the current year 2024.
JP Morgan, on the other hand, stated in their research note that they expect to see BBY reach a price target of $101, previously predicting the price at $89. The rating they have provided for BBY stocks is “Overweight” according to the report published on March 22nd, 2024.
Telsey Advisory Group gave a rating of “Outperform” to BBY, setting the target price at $95 in the report published on March 20th of the current year.
BBY Trading at -1.91% 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 -11.40% of loss for the given period.
Volatility was left at 2.48%, however, over the last 30 days, the volatility rate increased by 3.17%, as shares sank -2.22% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +1.40% upper at present.
During the last 5 trading sessions, BBY fell by -4.80%, which changed the moving average for the period of 200-days by -7.28% in comparison to the 20-day moving average, which settled at $79.87. In addition, Best Buy Co. Inc. saw -2.54% in overturn over a single year, with a tendency to cut further losses.
Insider Trading
Reports are indicating that there were more than several insider trading activities at BBY starting from Watson Mathew, who sale 3,520 shares at the price of $82.43 back on Apr 09 ’24. After this action, Watson Mathew now owns 22,118 shares of Best Buy Co. Inc., valued at $290,154 using the latest closing price.
Barry Corie S, the CEO of Best Buy Co. Inc., sale 28,042 shares at $81.80 during a trade that took place back on Mar 22 ’24, which means that Barry Corie S is holding 429,159 shares at $2,293,695 based on the most recent closing price.
Stock Fundamentals for BBY
Current profitability levels for the company are sitting at:
- 0.04 for the present operating margin
- 0.22 for the gross margin
The net margin for Best Buy Co. Inc. stands at 0.03. The total capital return value is set at 0.25. Equity return is now at value 42.44, with 8.07 for asset returns.
Based on Best Buy Co. Inc. (BBY), the company’s capital structure generated 0.37 points at debt to capital in total, while cash flow to debt ratio is standing at 0.83. The debt to equity ratio resting at 0.58. The interest coverage ratio of the stock is 33.52.
Currently, EBITDA for the company is 2.64 billion with net debt to EBITDA at 0.96. When we switch over and look at the enterprise to sales, we see a ratio of 0.44. The receivables turnover for the company is 46.27for trailing twelve months and the total asset turnover is 2.9. The liquidity ratio also appears to be rather interesting for investors as it stands at 1.00.
Conclusion
To sum up, Best Buy Co. Inc. (BBY) has seen a mixed 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.
