Skip to main content

Market Overview

KeyBanc Downgrades Bed Bath & Beyond On Valuation, Competition

KeyBanc Downgrades Bed Bath & Beyond On Valuation, Competition

Bed Bath & Beyond Inc.’s (NASDAQ: BBBY) stock valuation seems too high, according to KeyBanc Capital Markets, after the 99% appreciation in shares year to date, versus a 1% decline in the S&P 500.

The Bed Bath & Beyond Analyst: Bradley Thomas downgrades Bed Bath & Beyond's stock from Sector Weight to Underweight, while establishing a price target of $24.

The Bed Bath & Beyond Thesis: The company has been underperforming amid stiff competition in the home furnishings industry, Thomas said in the note.

“This year, BBBY continued to underperform peers, as the Company only saw comp growth of 5.5% and 2.4% in 2Q20 and 3Q20, respectively, during arguably the best backdrop we have seen for the industry in 20 years of following Home Furnishings. While new management is working diligently to improve the merchandising and marketing strategy, we expect competition to remain intense,” he wrote.

“To be clear, we think highly of CEO Mark Tritton and his team and their turnaround plan,” the analyst said. He noted, however, that successful retail turnarounds “are exceedingly rare.”

BBBY Price Action: Shares of Bed Bath & Beyond had declined by 15% to $29.72 on Monday.

(Photo: Anthony92931/WikiCommons)

Latest Ratings for BBBY

Apr 2021Telsey Advisory GroupMaintainsMarket Perform
Apr 2021KeybancMaintainsUnderweight
Feb 2021Odeon CapitalUpgradesHoldBuy

View More Analyst Ratings for BBBY
View the Latest Analyst Ratings


Related Articles (BBBY)

View Comments and Join the Discussion!

Posted-In: Bed Bath & Beyond Bradley Thomas KeyBanc Capital MarketsAnalyst Color Downgrades Price Target Analyst Ratings Best of Benzinga

Latest Ratings

VZIOWells FargoInitiates Coverage On31.0
OMWells FargoInitiates Coverage On63.0
View the Latest Analytics Ratings
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
Everything you need to know about the latest SPAC news.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at