7.60% to Target, UBS Reaffirms Neutral Rating for Best Buy (NYSE:BBY) Stock

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Best Buy (NYSE:BBY) Rating

The financial company have set target price per share of $33.0 on Best Buy (NYSE:BBY) shares. This is 7.60% from the stock close price. In a report made public on Friday morning, UBS reconfirmed their Neutral rating on shares of BBY.

Out of 8 analysts covering Best Buy Co (NYSE:BBY), 6 rate it “Buy”, 0 “Sell”, while 2 “Hold”. This means 75% are positive. $50 is the highest target while $33.0 is the lowest. The $39.47 average target is 29.45% above today’s ($30.49) stock price. Best Buy Co was the topic in 15 analyst reports since August 10, 2015 according to StockzIntelligence Inc. RBC Capital Markets downgraded the stock on November 16 to “Sector Perform” rating. UBS maintained it with “Neutral” rating and $35.0 target price in an August 26 report. TheStreet upgraded the shares of BBY in a report on August 27 to “Hold” rating. Raymond James upgraded the firm’s rating on August 26. Raymond James has “Strong Buy” rating and $40 price target. Finally, Jefferies maintained the stock with “Buy” rating in an August 26 report.

About 7.64 million shares traded hands or 50.10% up from the average. Best Buy Co Inc (NYSE:BBY) has declined 16.16% since April 20, 2015 and is downtrending. It has underperformed by 15.24% the S&P500.

The institutional sentiment increased to 1.15 in Q2 2015. Its up 0.19, from 0.96 in 2015Q1. The ratio increased, as 63 funds sold all Best Buy Co Inc shares owned while 148 reduced positions. 50 funds bought stakes while 192 increased positions. They now own 296.71 million shares or 17.37% less from 359.10 million shares in 2015Q1.

Aristotle Fund L.P. holds 23.38% of its portfolio in Best Buy Co Inc for 292,000 shares. Tyvor Capital Llc owns 716,912 shares or 8.39% of their US portfolio. Moreover, Peconic Partners Llc has 4.43% invested in the company for 840,660 shares. The Minnesota-based Minneapolis Portfolio Management Group Llc has invested 3.44% in the stock. Sterling Ridge Capital Management Lp, a New York-based fund reported 352,304 shares.

Since February 25, 2015, the stock had 0 insider buys, and 7 insider sales for $41.82 million net activity. Schulze Richard M sold 197,500 shares worth $7.35 million. Vittecoq Gerard R sold 10,974 shares worth $400,551. Nelsen Keith J sold 34,632 shares worth $1.32M. Mohan Rajendra M sold 40,000 shares worth $1.54M. The insider Watson Mathew sold 800 shares worth $28,752.

Best Buy Co., Inc. is a provider of technology products, services and solutions. The company has a market cap of $10.50 billion. The Firm offers service to the consumers, small business owners and educators, who visit its stores, engage with Geek Squad agents or use its Websites or mobile applications. It has 12.99 P/E ratio. It has retail and online activities in the United States, Canada and Mexico.

According to Zacks Investment Research, “Best Buy operates in a single business segment, selling personal computers and other home office products, consumer electronics, entertainment software, major appliances and related accessories principally through its retail stores. They operate retail stores and commercial Websites under the brand names Best Buy, Media Play, On Cue, Sam Goody, Suncoast, Magnolia Hi-Fi and Future Shop. They also operate in three segments: Best Buy, Musicland and International.” Get a free copy of the Zacks research report on Best Buy Co Inc (BBY)

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