Bank of America Cuts Beyond (NYSE:BYON) Price Target to $15.50

Beyond (NYSE:BYON) had its price objective reduced by Bank of America from $19.00 to $15.50 in a research note published on Tuesday morning, Benzinga reports. They currently have a neutral rating on the stock.

Other equities research analysts have also recently issued reports about the company. Barclays lowered their target price on Beyond from $30.00 to $22.00 and set an equal weight rating for the company in a report on Wednesday, May 8th. Maxim Group decreased their price objective on Beyond from $50.00 to $36.00 and set a buy rating for the company in a research note on Wednesday, May 8th. Piper Sandler decreased their price objective on Beyond from $26.00 to $17.00 and set a neutral rating for the company in a research note on Wednesday, May 8th. Needham & Company LLC restated a hold rating on shares of Beyond in a research note on Monday, May 20th. Finally, Wedbush restated an outperform rating and set a $37.00 price objective on shares of Beyond in a research note on Tuesday, May 14th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, Beyond currently has an average rating of Hold and an average price target of $30.36.

Beyond Stock Performance

NYSE BYON opened at $13.42 on Tuesday. The company has a market cap of $613.97 million, a P/E ratio of -1.65 and a beta of 3.80. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.19 and a current ratio of 1.24. The business’s 50 day moving average price is $17.83 and its 200-day moving average price is $24.43. Beyond has a fifty-two week low of $13.00 and a fifty-two week high of $39.27.

Beyond (NYSE:BYON) last announced its quarterly earnings data on Monday, May 6th. The company reported ($1.22) EPS for the quarter, missing the consensus estimate 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 business had revenue of $382.28 million during the quarter, compared to the consensus estimate of $389.36 million. During the same period last year, the company earned ($0.10) EPS. The business’s revenue was up .3% compared to the same quarter last year. Sell-side analysts predict that Beyond will post -2.99 earnings per share for the current year.

Insider Activity

In related news, Chairman Marcus Lemonis bought 17,075 shares of the company’s stock in a transaction that occurred on Thursday, June 6th. The shares were purchased at an average cost of $14.61 per share, with a total value of $249,465.75. Following the completion of the acquisition, the chairman now directly owns 186,973 shares in the company, valued at $2,731,675.53. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Beyond news, Chairman Marcus Lemonis purchased 17,075 shares of the stock in a transaction on Thursday, June 6th. The shares were bought at an average price of $14.61 per share, for a total transaction of $249,465.75. Following the completion of the transaction, the chairman now owns 186,973 shares of the company’s stock, valued at approximately $2,731,675.53. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Joseph J. Tabacco, Jr. purchased 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, for a total transaction of $198,524.00. Following the transaction, the director now directly owns 97,458 shares of the company’s stock, valued at approximately $1,560,302.58. The disclosure for this purchase can be found here. Over the last three months, insiders have bought 40,095 shares of company stock valued at $596,237. Company insiders own 1.20% of the company’s stock.

Hedge Funds Weigh In On Beyond

Hedge funds and other institutional investors have recently made changes to their positions in the company. Public Employees Retirement System of Ohio purchased a new position in shares of Beyond in the first quarter valued at approximately $66,000. DekaBank Deutsche Girozentrale purchased a new position in Beyond during the first quarter worth approximately $71,000. Lazard Asset Management LLC purchased a new position in Beyond during the first quarter worth approximately $70,000. CANADA LIFE ASSURANCE Co purchased a new position in Beyond during the first quarter worth approximately $157,000. Finally, Cetera Advisors LLC purchased a new position in Beyond during the first quarter worth approximately $233,000. Hedge funds and other institutional investors own 76.30% of the company’s stock.

Beyond Company Profile

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.