Barclays Has Lowered Expectations for Beyond (NYSE:BYON) Stock Price

Beyond (NYSE:BYON) had its target price reduced by research analysts at Barclays from $8.00 to $7.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Barclays‘s price target indicates a potential upside of 13.45% from the stock’s current price.

Several other research analysts also recently issued reports on BYON. Jefferies Financial Group reduced their price objective on Beyond from $14.00 to $11.00 and set a “hold” rating on the stock in a report on Monday, September 23rd. Bank of America downgraded shares of Beyond from a “neutral” rating to an “underperform” rating and cut their target price for the company from $12.50 to $6.00 in a research report on Friday, October 25th. Argus cut shares of Beyond from a “hold” rating to a “sell” rating in a research report on Wednesday, December 18th. Wedbush cut their price target on Beyond from $25.00 to $15.00 and set an “outperform” rating on the stock in a research note on Friday, October 25th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $13.00 price objective on shares of Beyond in a research note on Wednesday, October 23rd. Two analysts have rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, Beyond presently has an average rating of “Hold” and an average target price of $16.38.

Beyond Price Performance

NYSE BYON opened at $6.17 on Thursday. The company has a market cap of $284.10 million, a P/E ratio of -0.83 and a beta of 3.74. Beyond has a 1 year low of $4.45 and a 1 year high of $37.10. The company has a current ratio of 0.97, a quick ratio of 0.91 and a debt-to-equity ratio of 0.17. The company has a fifty day simple moving average of $5.77 and a 200 day simple moving average of $9.06.

Insider Buying and Selling

In other Beyond news, Chairman Marcus Lemonis acquired 156,985 shares of the stock in a transaction that occurred on Sunday, October 27th. The shares were acquired at an average cost of $6.37 per share, with a total value of $999,994.45. Following the transaction, the chairman now owns 365,530 shares of the company’s stock, valued at $2,328,426.10. The trade was a 75.28 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 1.20% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Beyond

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP purchased a new stake in Beyond during the 2nd quarter valued at approximately $9,538,000. Royce & Associates LP lifted its stake in Beyond by 57.8% in the 3rd quarter. Royce & Associates LP now owns 845,977 shares of the company’s stock worth $8,527,000 after purchasing an additional 309,810 shares in the last quarter. ProShare Advisors LLC bought a new position in shares of Beyond during the 2nd quarter valued at about $3,800,000. Bank of New York Mellon Corp bought a new stake in shares of Beyond in the second quarter worth about $2,188,000. Finally, Second Line Capital LLC bought a new position in Beyond during the second quarter valued at approximately $1,581,000. 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.