Best Buy Co., Inc. (BBY) saw a big move last session, as the company’s shares fell by almost 7% on the day. The move came on pretty good volume too with far more shares changing hands than in a normal session. This reverses the recent trend for BBY, as the stock is now up over 2% since Aug 15, 2014.
The consumer electronics retailer has seen a mixed track record when it comes to current year estimate revisions over the past few weeks (0 increases,1 decrease), and the consensus for earnings hasn’t been in a trend either. This recent price action is discouraging, so make sure to keep a close watch on this firm in the near future, and especially on earnings estimates following the recent slump.
BBY currently has a Zacks Rank #3 (Hold).
Some better-ranked stocks in the retail sector include Citi Trends, Inc. (CTRN), Abercrombie & Fitch Co. (ANF) and Foot Locker, Inc. (FL). While Citi Trends carries a Zacks Rank #1 (Strong Buy), Abercrombie & Fitch and Foot Locker carry a Zacks Rank #2 (Buy) each.
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BEST BUY INC (BBY): Free Stock Analysis Report
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