Beyond (NYSE:BYON) Stock Rating Reaffirmed by Wedbush

Wedbush reissued their outperform rating on shares of Beyond (NYSE:BYON) in a research note released on Wednesday morning, RTT News reports. Wedbush currently has a $37.00 price target on the stock.

Several other equities analysts have also issued reports on BYON. Piper Sandler decreased their price target on Beyond from $26.00 to $17.00 and set a neutral rating on the stock in a research note on Wednesday, May 8th. Barclays cut their price objective on Beyond from $30.00 to $22.00 and set an equal weight rating on the stock in a report on Wednesday, May 8th. Needham & Company LLC reissued a hold rating on shares of Beyond in a report on Monday, May 20th. Maxim Group cut their price objective on Beyond from $50.00 to $36.00 and set a buy rating on the stock in a report on Wednesday, May 8th. Finally, Bank of America cut their price objective on Beyond from $19.00 to $15.50 and set a neutral rating on the stock in a report on Tuesday, June 18th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of Hold and a consensus target price of $29.50.

Beyond Trading Up 3.2 %

Shares of BYON opened at $13.81 on Wednesday. Beyond has a 52-week low of $11.95 and a 52-week high of $39.27. The business’s fifty day moving average is $14.09 and its 200-day moving average is $22.28. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.19 and a current ratio of 1.24. The firm has a market cap of $631.81 million, a price-to-earnings ratio of -1.69 and a beta of 3.70.

Beyond (NYSE:BYON) last issued its quarterly earnings results on Monday, May 6th. The company reported ($1.22) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.92) by ($0.30). Beyond had a negative net margin of 23.67% and a negative return on equity of 32.05%. The business had revenue of $382.28 million during the quarter, compared to the consensus estimate of $389.36 million. During the same quarter in the previous year, the business posted ($0.10) EPS. The company’s revenue for the quarter was up .3% on a year-over-year basis. Equities analysts anticipate that Beyond will post -3.26 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Chairman Marcus Lemonis bought 3,700 shares of the business’s stock in a transaction on Friday, June 14th. The shares were purchased at an average cost of $13.64 per share, with a total value of $50,468.00. Following the acquisition, the chairman now owns 197,593 shares of the company’s stock, valued at $2,695,168.52. The purchase was disclosed in a filing with the SEC, which is available through this link. In related news, Director Joseph J. Tabacco, Jr. bought 12,400 shares of the business’s stock in a transaction on Wednesday, May 8th. The shares were purchased at an average cost of $16.01 per share, with a total value of $198,524.00. Following the acquisition, the director now owns 97,458 shares of the company’s stock, valued at $1,560,302.58. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, Chairman Marcus Lemonis acquired 3,700 shares of the company’s stock in a transaction dated Friday, June 14th. The stock was acquired at an average cost of $13.64 per share, for a total transaction of $50,468.00. Following the completion of the purchase, the chairman now directly owns 197,593 shares in the company, valued at $2,695,168.52. The disclosure for this purchase can be found here. In the last three months, insiders have purchased 40,095 shares of company stock valued at $596,237. 1.20% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in BYON. American International Group Inc. acquired a new position in shares of Beyond in the 1st quarter valued at about $799,000. CANADA LIFE ASSURANCE Co acquired a new position in shares of Beyond in the 1st quarter valued at about $157,000. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of Beyond in the 1st quarter valued at about $8,956,000. Shell Asset Management Co. acquired a new position in shares of Beyond in the 1st quarter valued at about $2,271,000. Finally, Lazard Asset Management LLC acquired a new position in shares of Beyond in the 1st quarter valued at about $70,000. 76.30% of the stock is owned by institutional investors and hedge funds.

Beyond Company Profile

Beyond, Inc operates as an online retailer of furniture and home furnishings products in the United States and Canada. The company offers furniture, bedding and bath, patio and outdoor gear, area rugs, tabletop and cookware, décor, storage and organization, small appliances, home improvement, and other products under the Bed Bath & Beyond brand.