Loop Capital Markets Has Just Reaffirmed $85.0000 Target Price Per Share on Best Buy Co (NYSE:BBY) stock, While They’ve Also Reiterated Their “Buy” Rating

May 24, 2018 - By Michael Collier

Best Buy Co., Inc. (NYSE:BBY) Logo

Investors sentiment increased to 0.86 in Q4 2017. Its up 0.10, from 0.76 in 2017Q3. It increased, as 34 investors sold Best Buy Co., Inc. shares while 198 reduced holdings. 75 funds opened positions while 124 raised stakes. 233.61 million shares or 5.15% less from 246.28 million shares in 2017Q3 were reported.

National Pension Ser, Korea-based fund reported 311,172 shares. Ameritas Invest Inc holds 5,505 shares or 0.02% of its portfolio. Moreover, Catawba Cap Mngmt Va has 0.05% invested in Best Buy Co., Inc. (NYSE:BBY). Price T Rowe Assocs Md holds 0% or 433,058 shares. Captrust has 0.09% invested in Best Buy Co., Inc. (NYSE:BBY). Wedge Capital Management L Lp Nc reported 0.29% of its portfolio in Best Buy Co., Inc. (NYSE:BBY). Maverick Cap Ltd accumulated 163,480 shares. Legal General Public Limited owns 1.53 million shares. Greenleaf Tru invested 0% in Best Buy Co., Inc. (NYSE:BBY). Ent Fincl holds 70 shares or 0% of its portfolio. New Amsterdam Prtn Limited Liability Com New York has invested 0.13% in Best Buy Co., Inc. (NYSE:BBY). Pitcairn Communication invested in 49,471 shares. Ameriprise accumulated 0.18% or 5.64 million shares. Mason Street Advisors Limited Liability accumulated 0.06% or 35,425 shares. Aviva Plc accumulated 141,879 shares or 0.05% of the stock.

Since December 12, 2017, it had 0 buys, and 30 selling transactions for $53.96 million activity. 706 shares were sold by Scarlett Kathleen, worth $49,770. Shares for $359,530 were sold by Ballard Shari L. On Wednesday, March 14 Nelsen Keith J sold $142,543 worth of Best Buy Co., Inc. (NYSE:BBY) or 2,022 shares. On Monday, March 12 the insider Watson Mathew sold $31,864. $108,070 worth of Best Buy Co., Inc. (NYSE:BBY) shares were sold by Saksena Asheesh. The insider Barry Corie S sold 399 shares worth $28,906.

Best Buy Co (NYSE:BBY) Rating Reaffirmed

In a research report issued to clients and investors on Thursday, 24 May, The “Buy” rating of Best Buy Co (NYSE:BBY) shares was reaffirmed at Loop Capital Markets, who now has a $85.0000 price target on the stock. Loop Capital Markets’s price target gives a possible upside of 19.89 % from the current price of the company.

Best Buy Co., Inc. (NYSE:BBY) Ratings Coverage

Among 14 analysts covering Best Buy Co (NYSE:BBY), 3 have Buy rating, 2 Sell and 9 Hold. Therefore 21% are positive. Best Buy Co has $87 highest and $38.0 lowest target. $74.42’s average target is 4.96% above currents $70.9 stock price. Best Buy Co had 15 analyst reports since December 4, 2017 according to SRatingsIntel. The stock has “Hold” rating by Telsey Advisory on Friday, March 2. The rating was maintained by Citigroup with “Neutral” on Friday, February 16. The stock of Best Buy Co., Inc. (NYSE:BBY) has “Hold” rating given on Monday, March 5 by Credit Suisse. The stock of Best Buy Co., Inc. (NYSE:BBY) has “Market Perform” rating given on Thursday, January 25 by Telsey Advisory Group. The firm earned “Buy” rating on Thursday, March 1 by Loop Capital Markets. The rating was maintained by Morgan Stanley on Friday, March 2 with “Equal-Weight”. On Tuesday, February 27 the stock rating was maintained by Jefferies with “Hold”. The stock has “Neutral” rating by UBS on Friday, March 2. The stock of Best Buy Co., Inc. (NYSE:BBY) earned “Buy” rating by Bank of America on Friday, March 2. Barclays Capital maintained the shares of BBY in report on Tuesday, January 30 with “Overweight” rating.

The stock decreased 6.65% or $5.05 during the last trading session, reaching $70.9. About 16.43 million shares traded or 372.48% up from the average. Best Buy Co., Inc. (NYSE:BBY) has risen 46.62% since May 25, 2017 and is uptrending. It has outperformed by 35.07% the S&P500.

Best Buy Co., Inc. operates as a retailer of technology products, services, and solutions in the United States, Canada, and Mexico. The company has market cap of $19.99 billion. The firm operates through two reportable divisions, Domestic and International. It has a 21.73 P/E ratio. The Company’s stores provide consumer electronics, such as home theater, home automation, digital imaging, health and fitness, and portable audio products; computing and mobile phones, including computing and peripherals, networking, tablets, smart watches, and e-readers, as well as mobile phones comprising related mobile network carrier commissions; and entertainment products, such as gaming hardware and software, movie, music, technology toy, and other software products.

More notable recent Best Buy Co., Inc. (NYSE:BBY) news were published by: 247Wallst.com which released: “Why a Best Buy Earnings Beat Is Making Shareholders Unhappy” on May 24, 2018, also Benzinga.com with their article: “Fed Minutes Get A Dovish Read, And Focus Shifts Once Again Toward Trade” published on May 24, 2018, Nasdaq.com published: “What Happened in the Stock Market Today” on May 24, 2018. More interesting news about Best Buy Co., Inc. (NYSE:BBY) were released by: Nasdaq.com and their article: “Best Buy Co Inc Stock Drops Despite Q1 Earnings Beat” published on May 24, 2018 as well as Nasdaq.com‘s news article titled: “Why Best Buy Co Inc Stock Sank Today” with publication date: May 24, 2018.

Best Buy Co., Inc. (NYSE:BBY) Institutional Positions Chart

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