Beyond (NYSE:BYON) Rating Lowered to Underperform at Bank of America

Beyond (NYSE:BYON - Get Free Report) was downgraded by investment analysts at Bank of America from a "neutral" rating to an "underperform" rating in a research note issued to investors on Friday, MarketBeat.com reports. They currently have a $6.00 target price on the stock, down from their prior target price of $12.50. Bank of America's price target would suggest a potential downside of 5.81% from the company's previous close.

A number of other research firms have also issued reports on BYON. Barclays dropped their price target on Beyond from $22.00 to $16.00 and set an "equal weight" rating for the company in a research report on Friday, July 26th. Piper Sandler dropped their target price on Beyond from $17.00 to $14.00 and set a "neutral" rating for the company in a report on Wednesday, July 31st. Wedbush cut their target price on Beyond from $37.00 to $25.00 and set an "outperform" rating for the company in a research note on Wednesday, July 31st. Jefferies Financial Group lowered their price target on shares of Beyond from $14.00 to $11.00 and set a "hold" rating on the stock in a research report on Monday, September 23rd. Finally, Needham & Company LLC restated a "buy" rating and set a $13.00 price objective on shares of Beyond in a research report on Wednesday. One research analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat.com, Beyond has an average rating of "Hold" and an average target price of $17.50.

Beyond Price Performance

NYSE BYON traded down $0.32 during mid-day trading on Friday, hitting $6.37. The stock had a trading volume of 6,773,059 shares, compared to its average volume of 1,897,354. The firm's 50 day moving average is $10.23 and its 200 day moving average is $14.04. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.14 and a quick ratio of 1.08. The stock has a market capitalization of $291.43 million, a price-to-earnings ratio of -0.86 and a beta of 3.65. Beyond has a twelve month low of $6.06 and a twelve month high of $37.10.

Beyond (NYSE:BYON - Get Free Report) last posted its quarterly earnings results on Monday, July 29th. The company reported ($0.76) earnings per share for the quarter, topping the consensus estimate of ($0.89) by $0.13. Beyond had a negative net margin of 22.03% and a negative return on equity of 49.00%. The firm had revenue of $398.10 million for the quarter, compared to the consensus estimate of $381.74 million. During the same period last year, the firm posted ($0.02) earnings per share. The company's revenue for the quarter was down 5.7% on a year-over-year basis. Equities research analysts forecast that Beyond will post -3.55 earnings per share for the current fiscal year.

Insider Activity at Beyond

In related news, Director Barclay F. Corbus bought 5,000 shares of the stock in a transaction on Thursday, August 1st. The stock was bought at an average price of $10.66 per share, with a total value of $53,300.00. Following the completion of the purchase, the director now directly owns 66,668 shares in the company, valued at $710,680.88. This represents a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, Director William Benjamin Nettles, Jr. sold 10,412 shares of Beyond stock in a transaction 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 completion of the sale, the director now directly owns 11,368 shares of the company's stock, valued at approximately $106,290.80. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Barclay F. Corbus bought 5,000 shares of the stock in a transaction that occurred on Thursday, August 1st. The shares were purchased at an average price of $10.66 per share, with a total value of $53,300.00. Following the completion of the acquisition, the director now directly owns 66,668 shares in the company, valued at $710,680.88. This trade represents 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 insiders.

Institutional Trading of Beyond

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Boston Partners acquired a new position in shares of Beyond in the first quarter valued at approximately $2,152,000. Rhumbline Advisers purchased a new stake in shares of Beyond during the second quarter worth $1,001,000. ProShare Advisors LLC purchased a new stake in shares of Beyond during the second quarter worth $3,800,000. Sanctuary Advisors LLC acquired a new stake in shares of Beyond in the second quarter valued at $650,000. Finally, Price T Rowe Associates Inc. MD purchased a new position in Beyond in the first quarter valued at $795,000. 76.30% of the stock is currently 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.