Time To “Sell” Best Buy (NYSE:BBY), Moffett Nathanson Confirms

December 5, 2017 - By Hazel Jackson

 Time To

Investors sentiment decreased to 0.79 in 2017 Q2. Its down 0.22, from 1.01 in 2017Q1. It is negative, as 43 investors sold Best Buy Co., Inc. shares while 213 reduced holdings. 88 funds opened positions while 113 raised stakes. 253.45 million shares or 5.82% less from 269.11 million shares in 2017Q1 were reported.

16,500 are held by Louisiana State Employees Retirement System. Victory Incorporated holds 0.01% or 100,969 shares in its portfolio. Hillsdale Incorporated holds 0.01% of its portfolio in Best Buy Co., Inc. (NYSE:BBY) for 1,000 shares. Clinton Gp Inc stated it has 40,123 shares. Martingale Asset Management Limited Partnership invested in 0.04% or 48,938 shares. Pillar Pacific Capital Management Ltd Liability has invested 0.06% in Best Buy Co., Inc. (NYSE:BBY). Rothschild Asset Management invested 0.01% in Best Buy Co., Inc. (NYSE:BBY). Gyroscope Cap Gp Ltd invested in 98,564 shares or 2.82% of the stock. Credit Agricole S A reported 0.06% in Best Buy Co., Inc. (NYSE:BBY). Moreover, First Quadrant Lp Ca has 0% invested in Best Buy Co., Inc. (NYSE:BBY). First Citizens Bancorp And Tru Commerce holds 0.39% of its portfolio in Best Buy Co., Inc. (NYSE:BBY) for 52,645 shares. Svcs Automobile Association has 0.02% invested in Best Buy Co., Inc. (NYSE:BBY). Laffer Investments owns 35,525 shares for 0% of their portfolio. Keybank Natl Association Oh stated it has 0% in Best Buy Co., Inc. (NYSE:BBY). Tennessee-based Pinnacle Fin Prtnrs Inc has invested 0.01% in Best Buy Co., Inc. (NYSE:BBY).

Since June 9, 2017, it had 0 insider buys, and 3 selling transactions for $2.34 million activity. 503 shares were sold by Watson Mathew, worth $29,679 on Friday, June 9.

How Moffett Nathanson Currently Rates Best Buy (NYSE:BBY)

Analysts at Moffett Nathanson has started coverage for shares of Best Buy (NYSE:BBY) in analysts note made public on Monday, 4 December. The financial company set a “Sell” rating on the $18.64 billion market cap firm.

Investors sentiment decreased to 0.79 in 2017 Q2. Its down 0.22, from 1.01 in 2017Q1. It is negative, as 43 investors sold Best Buy Co., Inc. shares while 213 reduced holdings. 88 funds opened positions while 113 raised stakes. 253.45 million shares or 5.82% less from 269.11 million shares in 2017Q1 were reported.

16,500 are held by Louisiana State Employees Retirement System. Victory Incorporated holds 0.01% or 100,969 shares in its portfolio. Hillsdale Incorporated holds 0.01% of its portfolio in Best Buy Co., Inc. (NYSE:BBY) for 1,000 shares. Clinton Gp Inc stated it has 40,123 shares. Martingale Asset Management Limited Partnership invested in 0.04% or 48,938 shares. Pillar Pacific Capital Management Ltd Liability has invested 0.06% in Best Buy Co., Inc. (NYSE:BBY). Rothschild Asset Management invested 0.01% in Best Buy Co., Inc. (NYSE:BBY). Gyroscope Cap Gp Ltd invested in 98,564 shares or 2.82% of the stock. Credit Agricole S A reported 0.06% in Best Buy Co., Inc. (NYSE:BBY). Moreover, First Quadrant Lp Ca has 0% invested in Best Buy Co., Inc. (NYSE:BBY). First Citizens Bancorp And Tru Commerce holds 0.39% of its portfolio in Best Buy Co., Inc. (NYSE:BBY) for 52,645 shares. Svcs Automobile Association has 0.02% invested in Best Buy Co., Inc. (NYSE:BBY). Laffer Investments owns 35,525 shares for 0% of their portfolio. Keybank Natl Association Oh stated it has 0% in Best Buy Co., Inc. (NYSE:BBY). Tennessee-based Pinnacle Fin Prtnrs Inc has invested 0.01% in Best Buy Co., Inc. (NYSE:BBY).

Since June 9, 2017, it had 0 insider buys, and 3 selling transactions for $2.34 million activity. 503 shares were sold by Watson Mathew, worth $29,679 on Friday, June 9.

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

Among 27 analysts covering Best Buy Co (NYSE:BBY), 10 have Buy rating, 4 Sell and 13 Hold. Therefore 37% are positive. Best Buy Co has $72.0 highest and $20.50 lowest target. $49.03’s average target is -21.31% below currents $62.31 stock price. Best Buy Co had 92 analyst reports since August 10, 2015 according to SRatingsIntel. The stock has “Buy” rating by Raymond James on Wednesday, August 24. The firm has “Buy” rating given on Thursday, November 16 by Loop Capital Markets. The stock of Best Buy Co., Inc. (NYSE:BBY) has “Outperform” rating given on Monday, January 18 by Telsey Advisory Group. The firm has “Outperform” rating by Ladenburg Thalmann given on Wednesday, August 17. TheStreet upgraded the stock to “Hold” rating in Thursday, August 27 report. The stock of Best Buy Co., Inc. (NYSE:BBY) earned “Neutral” rating by Piper Jaffray on Friday, February 26. The firm earned “Sector Perform” rating on Monday, November 16 by RBC Capital Markets. On Friday, November 18 the stock rating was maintained by RBC Capital Markets with “Sector Perform”. As per Tuesday, October 24, the company rating was maintained by Loop Capital Markets. The firm has “Outperform” rating given on Friday, February 26 by Telsey Advisory Group.

The stock decreased 0.38% or $0.24 during the last trading session, reaching $62.31. About 550,594 shares traded. Best Buy Co., Inc. (NYSE:BBY) has risen 62.80% since December 5, 2016 and is uptrending. It has outperformed by 46.10% 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 $18.64 billion. The firm operates through two reportable divisions, Domestic and International. It has a 16.49 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: Nasdaq.com which released: “Best Buy Co Inc. Q3 Profit Climbs 23%” on November 16, 2017, also Reuters.com with their article: “Late arrival of iPhone X clouds Best Buy’s results” published on November 16, 2017, Investorplace.com published: “Best Buy Co Inc Has Found Its Niche – And So Has Its Stock” on November 22, 2017. More interesting news about Best Buy Co., Inc. (NYSE:BBY) were released by: Investorplace.com and their article: “Best Buy Co Inc Stock Has Finally Made Its Turnaround Move” published on December 01, 2017 as well as Nasdaq.com‘s news article titled: “Earnings Reaction History: Best Buy Co. Inc., 75.0% Follow-Through Indicator …” with publication date: November 16, 2017.

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.