Barclays Cuts Beyond (NYSE:BYON) Price Target to $8.00

Beyond (NYSE:BYON) had its price objective trimmed by Barclays from $14.00 to $8.00 in a report released on Tuesday morning, Benzinga reports. The firm currently has an equal weight rating on the stock.

A number of other equities analysts have also commented on BYON. Jefferies Financial Group cut their price objective on shares of Beyond from $14.00 to $11.00 and set a “hold” rating on the stock in a report on Monday, September 23rd. Needham & Company LLC reissued a “buy” rating and issued a $13.00 price target on shares of Beyond in a report on Wednesday, October 23rd. Wedbush dropped their price objective on Beyond from $25.00 to $15.00 and set an “outperform” rating on the stock in a report on Friday, October 25th. Bank of America cut Beyond from a “neutral” rating to an “underperform” rating and reduced their target price for the company from $12.50 to $6.00 in a research note on Friday, October 25th. Finally, Maxim Group dropped their price target on shares of Beyond from $33.00 to $26.00 and set a “buy” rating for the company in a research note on Friday, October 25th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $16.50.

Beyond Stock Performance

BYON stock opened at $6.41 on Tuesday. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.97 and a quick ratio of 1.08. The stock has a 50-day moving average price of $9.83 and a two-hundred day moving average price of $13.29. Beyond has a 12-month low of $6.06 and a 12-month high of $37.10.

Beyond (NYSE:BYON) last issued its earnings results on Monday, July 29th. The company reported ($0.76) EPS for the quarter, beating analysts’ consensus estimates of ($0.89) by $0.13. The business had revenue of $398.10 million for the quarter, compared to the consensus estimate of $381.74 million. Beyond had a negative net margin of 22.82% and a negative return on equity of 69.32%. The business’s revenue for the quarter was down 5.7% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.02) EPS. Sell-side analysts expect that Beyond will post -3.75 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director William Benjamin Nettles, Jr. sold 10,412 shares of the business’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $9.35, for a total transaction of $97,352.20. Following the completion of the sale, the director now owns 11,368 shares of the company’s stock, valued at $106,290.80. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director William Benjamin Nettles, Jr. sold 10,412 shares of the firm’s stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $9.35, for a total value of $97,352.20. Following the sale, the director now owns 11,368 shares of the company’s stock, valued at approximately $106,290.80. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Chairman Marcus Lemonis acquired 156,985 shares of the stock in a transaction that occurred on Sunday, October 27th. The shares were bought at an average price of $6.37 per share, with a total value of $999,994.45. Following the completion of the purchase, the chairman now owns 365,530 shares in the company, valued at $2,328,426.10. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.20% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of BYON. Tidal Investments LLC acquired a new position in shares of Beyond during the first quarter worth approximately $33,599,000. Dimensional Fund Advisors LP acquired a new position in shares of Beyond during the second quarter valued at $9,538,000. Refined Wealth Management bought a new stake in shares of Beyond during the second quarter valued at about $4,201,000. ProShare Advisors LLC acquired a new stake in Beyond in the second quarter worth about $3,800,000. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new position in Beyond in the 1st quarter valued at about $8,956,000. 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.