BBBY Stock Slid 5% in Premarket Trading

Tiger Newspress2022-09-02

Raymond James downgraded Bed Bath & Beyond to an Underperform rating on Thursday after having the retailer slotted at Market Perform.

Analyst Bobby Griffin noted that BBBY's new financing will improve the liquidity position, but warned it only kicks the can down the road with underlying business trends still called weak amid a slumping sales backdrop and sizable quarterly cash burn.

"Even with a move back towards more branded products, we struggle to see a pathway for improved performance, especially with discretionary consumer spending and housing slowing. Furthermore, the ongoing cash burn (even if improved some in F3Q/F4Q) and need to preserve cash/liquidity will limit in-store investments (remodels), likely only further hindering customer traffic."

Griffin and team indicated they would become more constructive on BBBY if sales trends stabilize and consistent cash flow generation is seen.

Wall Street taking some shots at BBBY is nothing new with 11 Sell-equivalent ratings stacking up against just 2 Buy-equivalent ratings and 5 Hold-equivalent ratings.

Shares of BBBY fell 5.14% in premarket trading on Friday. BBBY trades below its 100-day and 200-day moving averages.

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Comments

Jimstk
2022-09-02
Jimstk
Buy while it's Low. Don't miss the boat
SalTheFun
2022-09-02
SalTheFun
Hmmm
Thalos
2022-09-02
Thalos
It's not an investable meme stock.

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Don't miss the boat","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9939255947","repostId":2264145642,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":9939258212,"gmtCreate":1662122902336,"gmtModify":1676537002596,"author":{"id":"3579809773434763","authorId":"3579809773434763","name":"SalTheFun","avatar":"https://static.tigerbbs.com/69c72146aa04d3efddd999f936505379","vip":1,"crmLevel":8,"crmLevelSwitch":1,"idStr":"3579809773434763","authorIdStr":"3579809773434763"},"htmlText":"Hmmm","listText":"Hmmm","text":"Hmmm","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9939258212","repostId":2264145642,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":9939220424,"gmtCreate":1662119533068,"gmtModify":1676537002115,"author":{"id":"4101955883486630","authorId":"4101955883486630","name":"Thalos","avatar":"https://community-static.tradeup.com/news/55ba87139db7cd8dd783879dbd6ed4c5","vip":1,"crmLevel":9,"crmLevelSwitch":1,"idStr":"4101955883486630","authorIdStr":"4101955883486630"},"htmlText":"It's not an investable meme stock.&nbsp;","listText":"It's not an investable meme stock.&nbsp;","text":"It's not an investable meme stock.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9939220424","repostId":2264145642,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"}],"isCommentEnd":false,"newsSizeData":{"likeSize":43,"commentSize":3,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.3","shortVersion":"4.29.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2264145642"}