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Indra Bhattacharjee's Avatar
published in Blogs
May 31, 2019

Best Buy’s (BBY, $62.59) strategy for damage control

Once embattled electronics retailing giant Best Buy Inc. has been dodging death for some time now, but the question is, for how long?

The company expects to grow same-store sales in 2019 amidst threats from tariff increase and concerns over consumer spending.

For years, Best Buy had watched customers walk its floors and test out products they would then buy online for lower prices, often from Amazon. It is now trying to test options where consumers would return to stores to buy products instead of buying them cheaper from e-commerce sites like Amazon (AMZN).

Under the current CEO, that trend is changing and the company boasts of retaining some of the customers who walked its floors. Unprecedented service, convenience and a proximity with vendors coupled with better employee training have yielded the desired results in the recent times.

That having said, Amazon itself is moving towards brick-and-mortar retail signalled by its recent acquisition of grocer Whole Foods. In the short term, a long list of tariffs could hit Best Buy harder than other retailers, since so much of its inventory is consumer electronics manufactured in Asia.

Related Ticker: BBY

BBY in upward trend: 10-day moving average broke above 50-day moving average on February 28, 2024

The 10-day moving average for BBY crossed bullishly above the 50-day moving average on February 28, 2024. This indicates that the trend has shifted higher and could be considered a buy signal. In of 13 past instances when the 10-day crossed above the 50-day, the stock continued to move higher over the following month. The odds of a continued upward trend are .

Price Prediction Chart

Technical Analysis (Indicators)

Bullish Trend Analysis

The Momentum Indicator moved above the 0 level on February 23, 2024. You may want to consider a long position or call options on BBY as a result. In of 88 past instances where the momentum indicator moved above 0, the stock continued to climb. The odds of a continued upward trend are .

The Moving Average Convergence Divergence (MACD) for BBY just turned positive on February 23, 2024. Looking at past instances where BBY's MACD turned positive, the stock continued to rise in of 52 cases over the following month. The odds of a continued upward trend are .

BBY moved above its 50-day moving average on February 22, 2024 date and that indicates a change from a downward trend to an upward trend.

The 50-day moving average for BBY moved above the 200-day moving average on January 24, 2024. This could be a long-term bullish signal for the stock as the stock shifts to an upward trend.

Following a 3-day Advance, the price is estimated to grow further. Considering data from situations where BBY advanced for three days, in of 348 cases, the price rose further within the following month. The odds of a continued upward trend are .

The Aroon Indicator entered an Uptrend today. In of 289 cases where BBY Aroon's Indicator entered an Uptrend, the price rose further within the following month. The odds of a continued Uptrend are .

Bearish Trend Analysis

The 10-day RSI Indicator for BBY moved out of overbought territory on March 01, 2024. This could be a bearish sign for the stock. Traders may want to consider selling the stock or buying put options. Tickeron's A.I.dvisor looked at 43 similar instances where the indicator moved out of overbought territory. In of the 43 cases, the stock moved lower in the following days. This puts the odds of a move lower at .

The Stochastic Oscillator may be shifting from an upward trend to a downward trend. In of 65 cases where BBY's Stochastic Oscillator exited the overbought zone, the price fell further within the following month. The odds of a continued downward trend are .

Following a 3-day decline, the stock is projected to fall further. Considering past instances where BBY declined for three days, the price rose further in of 62 cases within the following month. The odds of a continued downward trend are .

BBY broke above its upper Bollinger Band on February 27, 2024. This could be a sign that the stock is set to drop as the stock moves back below the upper band and toward the middle band. You may want to consider selling the stock or exploring put options.

Fundamental Analysis (Ratings)

Fear & Greed

The Tickeron Valuation Rating of (best 1 - 100 worst) indicates that the company is seriously undervalued in the industry. This rating compares market capitalization estimated by our proprietary formula with the current market capitalization. This rating is based on the following metrics, as compared to industry averages: P/B Ratio (5.708) is normal, around the industry mean (8.981). P/E Ratio (14.239) is within average values for comparable stocks, (30.375). Projected Growth (PEG Ratio) (1.855) is also within normal values, averaging (2.960). Dividend Yield (0.045) settles around the average of (0.035) among similar stocks. P/S Ratio (0.407) is also within normal values, averaging (84.135).

The Tickeron SMR rating for this company is (best 1 - 100 worst), indicating very strong sales and a profitable business model. SMR (Sales, Margin, Return on Equity) rating is based on comparative analysis of weighted Sales, Income Margin and Return on Equity values compared against S&P 500 index constituents. The weighted SMR value is a proprietary formula developed by Tickeron and represents an overall profitability measure for a stock.

The Tickeron PE Growth Rating for this company is (best 1 - 100 worst), pointing to consistent earnings growth. The PE Growth rating is based on a comparative analysis of stock PE ratio increase over the last 12 months compared against S&P 500 index constituents.

The Tickeron Price Growth Rating for this company is (best 1 - 100 worst), indicating steady price growth. BBY’s price grows at a higher rate over the last 12 months as compared to S&P 500 index constituents.

The Tickeron Profit vs. Risk Rating rating for this company is (best 1 - 100 worst), indicating well-balanced risk and returns. The average Profit vs. Risk Rating rating for the industry is 75, placing this stock slightly better than average.

Notable companies

The most notable companies in this group are Home Depot (NYSE:HD), Lowe's Companies (NYSE:LOW), AutoZone (NYSE:AZO), Tractor Supply Company (NASDAQ:TSCO), Ulta Beauty (NASDAQ:ULTA), Best Buy Company (NYSE:BBY), Five Below (NASDAQ:FIVE), Bath & Body Works (NYSE:BBWI), RH (NYSE:RH), GameStop Corp (NYSE:GME).

Industry description

The specialty stores sector includes companies dedicated to the sale of retail products focused on a single product category, such as clothing, carpet, books, or office supplies. A specialty store could face intense competition from big-box departmental chains, and therefore offering an adequate collection of the product type it specializes in is key in maintaining/growing its market.

Market Cap

The average market capitalization across the Specialty Stores Industry is 7.72B. The market cap for tickers in the group ranges from 48 to 378.81B. HD holds the highest valuation in this group at 378.81B. The lowest valued company is CALI at 48.

High and low price notable news

The average weekly price growth across all stocks in the Specialty Stores Industry was 2%. For the same Industry, the average monthly price growth was 33%, and the average quarterly price growth was 40%. GHST experienced the highest price growth at 87%, while WINH experienced the biggest fall at -44%.

Volume

The average weekly volume growth across all stocks in the Specialty Stores Industry was -77%. For the same stocks of the Industry, the average monthly volume growth was -70% and the average quarterly volume growth was -47%

Fundamental Analysis Ratings

The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows

Valuation Rating: 49
P/E Growth Rating: 52
Price Growth Rating: 50
SMR Rating: 67
Profit Risk Rating: 74
Seasonality Score: 0 (-100 ... +100)
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A.I.Advisor
published price charts
A.I. Advisor
published General Information

General Information

a retailer of consumer electronics, entertainment software and appliances

Industry SpecialtyStores

Profile
Fundamentals
Details
Industry
Electronics Or Appliance Stores
Address
7601 Penn Avenue South
Phone
+1 612 291-1000
Employees
90000
Web
https://www.investors.bestbuy.com
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BBY and

Correlation & Price change

A.I.dvisor indicates that over the last year, BBY has been loosely correlated with CPRT. These tickers have moved in lockstep 61% of the time. This A.I.-generated data suggests there is some statistical probability that if BBY jumps, then CPRT could also see price increases.

1D
1W
1M
1Q
6M
1Y
5Y
Ticker /
NAME
Correlation
To BBY
1D Price
Change %
BBY100%
-3.64%
CPRT - BBY
61%
Loosely correlated
+0.83%
HD - BBY
53%
Loosely correlated
+1.05%
ABG - BBY
51%
Loosely correlated
+0.46%
FND - BBY
51%
Loosely correlated
+0.23%
KAR - BBY
51%
Loosely correlated
+3.96%
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