PiperJaffray Upgrades Best Buy Co Inc to Overweight

Brokerage firm PiperJaffray Upgrades its rating on Best Buy Co Inc(BBY). The shares have been rated Overweight. Previously, the analysts had a Neutral rating on the shares. The rating by the stock financial advisor at PiperJaffray was issued on Mar 27, 2017 in a research report to their Investors and Clients.

In a different note, Bernstein said it Initiates Coverage On Best Buy Co Inc, according to a research note issued on Feb 7, 2017. In the research note, the firm Announces the price-target to $34 per share. The shares have been rated ‘Underperform’ by the firm.

Best Buy Co Inc (BBY) made into the market gainers list on Fridays trading session with the shares advancing 0.52% or 0.23 points. Due to strong positive momentum, the stock ended at $44.85, which is also near the day’s high of $45.1. The stock began the session at $44.59 and the volume stood at 25,53,581 shares. The 52-week high of the shares is $49.4 and the 52 week low is $28.76. The company has a current market capitalization of $13,961 M and it has 31,12,78,170 shares in outstanding.

Best Buy Co Inc(BBY) last announced its earnings results on Mar 1, 2017 for Fiscal Year 2017 and Q4.Company reported revenue of $13.482B. Analysts had an estimated revenue of $13.610B. Earnings per share were $1.95. Analysts had estimated an EPS of $1.67.

Several Insider Transactions has been reported to the SEC. On Mar 3, 2017, Keith J Nelsen (General Counsel & Secreta) sold 90,247 shares at $44.54 per share price.Also, On Mar 3, 2017, Mathew Watson (VP, Finance – Contr. & CAO) sold 1,000 shares at $44.59 per share price.On Dec 19, 2016, Richard M Schulze (10% owner) sold 90,000 shares at $47.58 per share price, according to the Form-4 filing with the securities and exchange commission.

Best Buy Co. Inc. is a provider of technology products services and solutions. The Company offers service to the consumers small business owners and educators who visit its stores engage with Geek Squad agents or use its Websites or mobile applications. It has retail and online operations in the United States Canada and Mexico. It operates through two segments: Domestic and International. The Domestic segment consists of all operations within the United States and its territories operating e-commerce retail store and call center operations under a range of brand names including Best Buy (bestbuy.com) Best Buy Mobile Geek Squad Magnolia Audio Video and Pacific Sales. The International segment consists of all operations outside the United States and its territories. In addition the Company operates Magnolia Home Theater Magnolia Design Center and Pacific Kitchen and Home store-within-a-store experiences in the United States Best Buy stores.

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