Beyond (NYSE:BYON) Given New $15.50 Price Target at Bank of America

Beyond (NYSE:BYON) had its price target cut by Bank of America from $19.00 to $15.50 in a research report issued on Tuesday, Benzinga reports. The firm currently has a “neutral” rating on the stock. Bank of America‘s target price indicates a potential upside of 12.56% from the stock’s current price.

A number of other equities analysts also recently issued reports on the company. Piper Sandler cut their price target on Beyond from $26.00 to $17.00 and set a “neutral” rating for the company in a research note on Wednesday, May 8th. Maxim Group cut their price target on Beyond from $50.00 to $36.00 and set a “buy” rating for the company in a research note on Wednesday, May 8th. Wedbush reiterated an “outperform” rating and set a $37.00 price target on shares of Beyond in a research note on Tuesday, May 14th. Needham & Company LLC reiterated a “hold” rating on shares of Beyond in a research note on Monday, May 20th. Finally, Barclays dropped their price objective on Beyond from $30.00 to $22.00 and set an “equal weight” rating on the stock in a research note on Wednesday, May 8th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $30.36.

Beyond Stock Performance

BYON stock opened at $13.77 on Tuesday. The stock has a 50-day moving average price of $18.36 and a 200-day moving average price of $24.57. Beyond has a 1-year low of $13.00 and a 1-year high of $39.27. The company has a current ratio of 1.24, a quick ratio of 1.19 and a debt-to-equity ratio of 0.12. The firm has a market cap of $629.98 million, a PE ratio of -1.69 and a beta of 3.80.

Beyond (NYSE:BYON) last issued its earnings results on Monday, May 6th. The company reported ($1.22) EPS for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $382.28 million during the quarter, compared to the consensus estimate of $389.36 million. During the same period in the previous year, the firm earned ($0.10) earnings per share. The business’s quarterly revenue was up .3% on a year-over-year basis. As a group, equities research analysts expect that Beyond will post -2.99 earnings per share for the current year.

Insider Buying and Selling at Beyond

In other Beyond news, Director Joseph J. Tabacco, Jr. bought 12,400 shares of the stock in a transaction on Wednesday, May 8th. The shares were acquired at an average price of $16.01 per share, with a total value of $198,524.00. Following the acquisition, the director now directly owns 97,458 shares of the company’s stock, valued at approximately $1,560,302.58. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other Beyond news, Director Joseph J. Tabacco, Jr. bought 12,400 shares of the stock in a transaction on Wednesday, May 8th. The shares were acquired at an average price of $16.01 per share, with a total value of $198,524.00. Following the acquisition, the director now directly owns 97,458 shares of the company’s stock, valued at approximately $1,560,302.58. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Chairman Marcus Lemonis bought 3,700 shares of the stock in a transaction on Friday, June 14th. The shares were acquired at an average cost of $13.64 per share, for a total transaction of $50,468.00. Following the acquisition, 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. Insiders have acquired 40,095 shares of company stock valued at $596,237 in the last 90 days. 1.20% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Tidal Investments LLC bought a new position in Beyond in the first quarter valued at $33,599,000. Healthcare of Ontario Pension Plan Trust Fund bought a new position in Beyond in the first quarter valued at $8,956,000. Shell Asset Management Co. bought a new position in Beyond in the first quarter valued at $2,271,000. Boston Partners bought a new position in Beyond in the first quarter valued at $2,152,000. Finally, California State Teachers Retirement System bought a new position in Beyond in the first quarter valued at $1,479,000. Institutional investors own 76.30% of the company’s stock.

About Beyond

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.