Price Change to Note: Today Best Buy Co Inc Stock Crashes

Price Change to Note: Today Best Buy Co Inc Stock Crashes

The stock of Best Buy Co Inc (NYSE:BBY) is a huge mover today! About 5.67 million shares traded hands or 45.01% up from the average. Best Buy Co Inc (NYSE:BBY) has risen 25.43% since April 6, 2016 and is uptrending. It has outperformed by 23.47% the S&P500.
The move comes after 8 months negative chart setup for the $12.33B company. It was reported on Nov, 8 by Barchart.com. We have $36.12 PT which if reached, will make NYSE:BBY worth $616.50M less.

Best Buy Co Inc (NYSE:BBY) Ratings Coverage

Out of 18 analysts covering Best Buy Co (NYSE:BBY), 6 rate it a “Buy”, 1 “Sell”, while 11 “Hold”. This means 33% are positive. Best Buy Co has been the topic of 47 analyst reports since August 10, 2015 according to StockzIntelligence Inc. The rating was maintained by Raymond James with “Buy” on Wednesday, August 24. On Wednesday, May 25 the stock rating was maintained by Telsey Advisory Group with “Outperform”. Deutsche Bank maintained it with “Hold” rating and $41 target price in Wednesday, August 24 report. The firm earned “Neutral” rating on Friday, February 26 by Piper Jaffray. The company was maintained on Monday, January 18 by Telsey Advisory Group. Morgan Stanley downgraded the shares of BBY in a report on Tuesday, January 19 to “Equal-Weight” rating. The stock of Best Buy Co Inc (NYSE:BBY) has “Hold” rating given on Thursday, August 27 by Zacks. Suntrust Robinson maintained the shares of BBY in a report on Wednesday, August 24 with “Buy” rating. Goldman Sachs downgraded the stock to “Neutral” rating in Friday, February 19 report. The firm has “Neutral” rating given on Wednesday, August 24 by UBS.

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.”

Insitutional Activity: The institutional sentiment increased to 1.07 in 2016 Q2. Its up 0.38, from 0.69 in 2016Q1. The ratio is positive, as 44 funds sold all Best Buy Co Inc shares owned while 139 reduced positions. 42 funds bought stakes while 153 increased positions. They now own 263.98 million shares or 4.84% less from 277.42 million shares in 2016Q1.
Fiduciary has 80,069 shares for 0.09% of their US portfolio. Price T Rowe Md accumulated 0% or 506,089 shares. The Georgia-based Vident Investment Advisory Ltd Limited Liability Company has invested 0.32% in Best Buy Co Inc (NYSE:BBY). Tower Research Cap Ltd Llc (Trc) holds 0.04% of its portfolio in Best Buy Co Inc (NYSE:BBY) for 14,072 shares. Geode Management Ltd Llc accumulated 2.97 million shares or 0.05% of the stock. Nomura Asset Mgmt Limited, a Japan-based fund reported 44,180 shares. Stifel accumulated 70,398 shares or 0.01% of the stock. Moreover, Rhumbline Advisers has 0.04% invested in Best Buy Co Inc (NYSE:BBY) for 416,495 shares. Janus Management Ltd Co holds 0% of its portfolio in Best Buy Co Inc (NYSE:BBY) for 109,646 shares. Aviva Public Ltd Liability holds 0.03% or 165,932 shares in its portfolio. Asset Advsrs Corp last reported 150 shares in the company. Charter has 9,347 shares for 0.03% of their US portfolio. Pitcairn has 17,134 shares for 0.07% of their US portfolio. Two Sigma Limited Liability Company holds 0.31% or 18,605 shares in its portfolio. Gargoyle Advisor Ltd Limited Liability Company accumulated 0.17% or 14,491 shares.

Insider Transactions: Since May 31, 2016, the stock had 0 buys, and 5 selling transactions for $17.92 million net activity. $2.31 million worth of Best Buy Co Inc (NYSE:BBY) was sold by Nelsen Keith J. Ballard Shari L had sold 181,362 shares worth $7.00 million. 1,030 shares with value of $40,630 were sold by Watson Mathew on Thursday, August 25. MOHAN RAJENDRA M had sold 221,335 shares worth $8.53M.

More recent Best Buy Co Inc (NYSE:BBY) news were published by: Profitconfidential.com which released: “Best Buy Co Inc: Best Buy Stock Could Hit $50 in 2017” on October 10, 2016. Also Investorplace.com published the news titled: “Why Best Buy Co Inc Stock Shows Promise Again (BBY)” on October 19, 2016. 247Wallst.com‘s news article titled: “Best Buy Now Taking Pre-Orders for Apple MacBook Pro” with publication date: November 07, 2016 was also an interesting one.

BBY Company Profile

Best Buy Co., Inc., incorporated on October 20, 1966, is a well-known provider of technology products, services and solutions. The Firm offers services and products to the clients visiting its stores, engaging with Geek Squad agents, or using its Websites or mobile applications. It has activities in the United States, Canada and Mexico. The Firm operates through two divisions: Domestic and International. The Domestic segment consists of the activities in all states, districts and territories of the United States, under various brand names, including Best Buy, bestbuy.com, Best Buy Mobile, Best Buy Direct, Best Buy Express, Geek Squad, Magnolia Home Theater, and Pacific Kitchen and Home. The International segment consists of all activities in Canada and Mexico under the brand names, Best Buy, bestbuy.com.ca, bestbuy.com.mx, Best Buy Express, Best Buy Mobile and Geek Squad. The Firm operates approximately 1,200 large-format and over 400 small-format stores throughout its Domestic and International divisions. It has a global sourcing operation to design, develop, test and contract-manufacture its brand products.

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