RBC Capital Gives a Hold Rating to Best Buy Co

By Austin Angelo

In a report released yesterday, Scot Ciccarelli from RBC Capital reiterated a Hold rating on Best Buy Co (NYSE: BBY), with a price target of $46. The company’s shares closed yesterday at $48.36.

According to TipRanks.com, Ciccarelli is a 4-star analyst with an average return of 8.1% and a 61.5% success rate. Ciccarelli covers the Services sector, focusing on stocks such as Ollie’s Bargain Outlet Holding, Dick’s Sporting Goods, and Genuine Parts Company.

Currently, the analyst consensus on Best Buy Co is Hold and the average price target is $44.67, representing a -7.6% downside.

In a report issued on April 10, Deutsche Bank also maintained a Hold rating on the stock with a $46 price target.

Based on the recent corporate insider activity of 74 insiders, corporate insider sentiment is negative on the stock. Earlier this month, Rajendra Mohan, the CMO of BBY sold 119,089 shares for a total of $5,798,443.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Best Buy Co., Inc. provides consumer electronics, home office products, entertainment products, appliances and related services. It operates through two business segments: Domestic and International. The Domestic segment is comprised of the operations in all states, districts and territories of the U.S., operating under various brand names, including but not limited to, Best Buy, Best Buy Mobile, Geek Squad, Magnolia Audio Video, Napster and Pacific Sales. The International segment is comprised of all operations outside the U.S. and its territories, which includes Canada, Europe, China, Mexico and Turkey. It also markets its products under the brand names: Best Buy, Audiovisions, Best Buy Mobile, The Carphone Warehouse, Five Star, Future Shop, Geek Squad, Magnolia Audio Video, Napster, Pacific Sales and The Phone House. The company was founded by Richard M. Schulze in 1966 and is headquartered in Richfield, MN.