Bed Bath & Beyond Down 0.9% Since Goldman Sachs Downgraded One Week Ago (BBBY)

Published on Mon, 02/04/2013 - 10:14
By Peter Chu in Analyst reflections, BBBY, analyst reflections, bed bath & beyond, nasdaq:bbby

A week ago, Goldman Sachs downgraded Bed Bath & Beyond from Neutral to Sell. Bed Bath & Beyond shares are selling at $59.22, 0.9% below the $59.78 price point of one week ago.

In the past 52 weeks, Bed Bath & Beyond share prices have been bracketed by a low of $54.33 and a high of $75.84 and are now at $58.74, 8% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.2% while the 200-day MA has slid 0.4%.

Bed Bath & Beyond Inc. operates a nationwide chain of retail stores. The Company, through its retail stores, sells a wide assortment of merchandise principally including domestics merchandise and home furnishings as well as food, giftware, health and beauty care items and infant and toddler merchandise.

Bed Bath & Beyond (NASDAQ:BBBY) has potential upside of 19.0% based on a current price of $58.74 and analysts' consensus price target of $69.91. The stock should hit resistance at its 200-day moving average (MA) of $63.09, as well as support at its 50-day MA of $57.55.

By Peter Chu
pchu@fnno.com

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