Barclays Cuts Beyond (NYSE:BYON) Price Target to $7.00

Beyond (NYSE:BYON) had its price objective cut by Barclays from $8.00 to $7.00 in a report issued on Thursday,Benzinga reports. They currently have an equal weight rating on the stock.

Several other equities research analysts have also issued reports on BYON. Needham & Company LLC reaffirmed a “buy” rating and issued a $13.00 price objective on shares of Beyond in a research note on Wednesday, October 23rd. Maxim Group reduced their price target on Beyond from $33.00 to $26.00 and set a “buy” rating for the company in a research report on Friday, October 25th. Bank of America lowered Beyond from a “neutral” rating to an “underperform” rating and lowered their price objective for the company from $12.50 to $6.00 in a report on Friday, October 25th. Jefferies Financial Group reduced their target price on Beyond from $14.00 to $11.00 and set a “hold” rating for the company in a report on Monday, September 23rd. Finally, Argus downgraded Beyond from a “hold” rating to a “sell” rating in a report on Wednesday, December 18th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, Beyond has a consensus rating of “Hold” and a consensus price target of $16.38.

Beyond Price Performance

NYSE BYON opened at $5.93 on Thursday. The company has a quick ratio of 0.91, a current ratio of 0.97 and a debt-to-equity ratio of 0.17. The stock has a market capitalization of $273.05 million, a PE ratio of -0.80 and a beta of 3.74. Beyond has a 12-month low of $4.45 and a 12-month high of $37.10. The company has a 50 day moving average price of $5.78 and a two-hundred day moving average price of $9.11.

Insiders Place Their Bets

In other news, Chairman Marcus Lemonis acquired 156,985 shares of the firm’s stock in a transaction dated 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 acquisition, the chairman now owns 365,530 shares of the company’s stock, valued at $2,328,426.10. This trade represents a 75.28 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.20% of the company’s stock.

Institutional Investors Weigh In On Beyond

A number of institutional investors have recently bought and sold shares of BYON. Dimensional Fund Advisors LP bought a new position in shares of Beyond during the 2nd quarter worth about $9,538,000. Royce & Associates LP lifted its stake in Beyond by 57.8% during the third 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 during the period. ProShare Advisors LLC bought a new stake in shares of Beyond in the 2nd quarter valued at approximately $3,800,000. Bank of New York Mellon Corp bought a new stake in shares of Beyond in the 2nd quarter valued at approximately $2,188,000. Finally, Second Line Capital LLC acquired a new position in shares of Beyond in the 2nd quarter worth approximately $1,581,000. Institutional investors and hedge funds 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.