The stock of Best Buy Co. Inc. (NYSE: BBY) has decreased by -1.35 when compared to last closing price of 76.15. Despite this, the company has experienced a -1.53% fall in its stock price over the last five trading sessions. Zacks Investment Research reported 2024-04-22 that Best Buy (BBY) concluded the recent trading session at $75.12, signifying a -1.35% move from its prior day’s close.
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 of 13.21x that is above its average ratio. Additionally, the 36-month beta value for BBY is 1.50. There are mixed opinions on the stock, with 5 analysts rating it as a “buy,” 2 rating it as “overweight,” 16 rating it as “hold,” and 0 rating it as “sell.”
The public float for BBY is 193.16M and currently, short sellers hold a 7.62% ratio of that float. The average trading volume of BBY on April 23, 2024 was 3.13M shares.
BBY’s Market Performance
BBY stock saw a decrease of -1.53% in the past week, with a monthly decline of -6.61% and a quarterly a decrease of 2.22%. The volatility ratio for the week is 1.99%, and the volatility levels for the last 30 days are 2.36% for Best Buy Co. Inc. (BBY). The simple moving average for the past 20 days is -5.30% for BBY’s stock, with a 0.40% simple moving average for the past 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 -3.52% 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 -12.76% of loss for the given period.
Volatility was left at 2.36%, however, over the last 30 days, the volatility rate increased by 1.99%, as shares sank -8.01% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -0.49% lower at present.
During the last 5 trading sessions, BBY fell by -1.53%, which changed the moving average for the period of 200-days by -6.79% in comparison to the 20-day moving average, which settled at $79.00. In addition, Best Buy Co. Inc. saw -4.04% 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 Barry Corie S, who sale 366 shares at the price of $75.76 back on Apr 17 ’24. After this action, Barry Corie S now owns 431,231 shares of Best Buy Co. Inc., valued at $27,729 using the latest closing price.
Bilunas Matthew M, the SEVP Enterprise Strategy & CFO of Best Buy Co. Inc., sale 111 shares at $75.76 during a trade that took place back on Apr 17 ’24, which means that Bilunas Matthew M is holding 91,250 shares at $8,409 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 0.43. 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
In conclusion, Best Buy Co. Inc. (BBY) has seen mixed performance in recent times. Analysts have a bullish opinion on the stock, with some rating it as a “buy” and others rating it 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.
