Oppenheimer Assigns a Hold Rating on Best Buy Co (BBY)


In a report released today, Brian Nagel from Oppenheimer assigned a Hold rating to Best Buy Co (BBY). The company’s shares closed last Wednesday at $118.43.

According to TipRanks.com, Nagel is a top 25 analyst with an average return of 37.1% and a 75.6% success rate. Nagel covers the Consumer Goods sector, focusing on stocks such as Dick’s Sporting Goods, Lululemon Athletica, and The Lovesac Company.

Currently, the analyst consensus on Best Buy Co is a Moderate Buy with an average price target of $131.46, implying a 14.4% upside from current levels. In a report issued on May 24, Morgan Stanley also maintained a Hold rating on the stock with a $115.00 price target.

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Best Buy Co’s market cap is currently $28.77B and has a P/E ratio of 13.60. The company has a Price to Book ratio of 9.18.

Based on the recent corporate insider activity of 69 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of BBY in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Founded in 1966, Minnesota-based Best Buy Co., Inc. is a consumer electronics company, which provides consumer technology products and services in the US, Canada and Mexico. It operates in two business segments: Domestic and International.

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