Beyond (NYSE:BYON) Price Target Cut to $7.00 by Analysts at Barclays

Beyond (NYSE:BYON) had its price objective lowered by Barclays from $8.00 to $7.00 in a research report released on Thursday morning,Benzinga reports. Barclays currently has an equal weight rating on the stock.

BYON has been the topic of several other research reports. Maxim Group cut their target price on Beyond from $33.00 to $26.00 and set a “buy” rating on the stock in a research note on Friday, October 25th. Wedbush reduced their price objective on shares of Beyond from $25.00 to $15.00 and set an “outperform” rating for the company in a report on Friday, October 25th. Jefferies Financial Group lowered their target price on shares of Beyond from $14.00 to $11.00 and set a “hold” rating on the stock in a research note on Monday, September 23rd. Needham & Company LLC reiterated a “buy” rating and issued a $13.00 price objective on shares of Beyond in a report on Wednesday, October 23rd. Finally, Bank of America cut Beyond from a “neutral” rating to an “underperform” rating and dropped their target price for the stock from $12.50 to $6.00 in a report on Friday, October 25th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, Beyond presently has an average rating of “Hold” and an average target price of $16.38.

Beyond Price Performance

Shares of NYSE:BYON opened at $5.93 on Thursday. The firm’s 50 day moving average is $5.78 and its two-hundred day moving average is $9.11. The firm has a market capitalization of $273.05 million, a P/E ratio of -0.80 and a beta of 3.74. The company has a current ratio of 0.97, a quick ratio of 0.91 and a debt-to-equity ratio of 0.17. Beyond has a 52 week low of $4.45 and a 52 week high of $37.10.

Insider Buying and Selling at Beyond

In other Beyond news, Chairman Marcus Lemonis bought 156,985 shares of the firm’s stock in a transaction dated Sunday, October 27th. The stock was acquired at an average price of $6.37 per share, with a total value of $999,994.45. Following the completion of the transaction, the chairman now directly owns 365,530 shares in the company, valued at approximately $2,328,426.10. This represents a 75.28 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.20% of the company’s stock.

Institutional Investors Weigh In On Beyond

Several hedge funds have recently bought and sold shares of the business. JPMorgan Chase & Co. increased its holdings in shares of Beyond by 34.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 389,694 shares of the company’s stock valued at $3,928,000 after purchasing an additional 100,335 shares during the period. Franklin Resources Inc. grew its position in Beyond by 12.8% during the third quarter. Franklin Resources Inc. now owns 21,299 shares of the company’s stock valued at $217,000 after purchasing an additional 2,411 shares in the last quarter. Second Line Capital LLC increased its stake in Beyond by 25.0% in the 3rd quarter. Second Line Capital LLC now owns 151,053 shares of the company’s stock valued at $1,523,000 after buying an additional 30,196 shares during the period. Y Intercept Hong Kong Ltd purchased a new stake in Beyond in the 3rd quarter worth approximately $107,000. Finally, State Street Corp boosted its stake in shares of Beyond by 0.9% during the 3rd quarter. State Street Corp now owns 1,016,563 shares of the company’s stock valued at $10,247,000 after buying an additional 8,580 shares during the period. 76.30% of the stock is owned by hedge funds and other institutional investors.

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.