Bed Bath & Beyond (BBBY) saw an improvement to its Relative Strength (RS) Rating on Thursday, with an increase from 90 to 93. The home furnishings and accessories company recently partnered with DoorDash (DASH) to expand its same-day delivery service.
When looking for the best stocks to buy and watch, keep a close on eye on relative price strength. IBD’s proprietary rating measures market leadership with a 1 (worst) to 99 (best) score. The rating shows how a stock’s price movement over the last 52 weeks holds up against all the other stocks in our database.
Over 100 years of market history shows that the top-performing stocks tend to have an RS Rating north of 80 as they launch their biggest climbs.
Is Bed Bath & Beyond Stock A Buy?
Bed Bath & Beyond stock ran up to a 52-week high of 53.90 in January as part of the heavily-shorted meme stocks. Since then, it’s pulled back into a long consolidation. Now is not an ideal time to jump in since it isn’t near a proper buy zone, but see if the stock is able to form a base and break out. Read “Looking For The Next Big Stock Market Winners? Start With These 3 Steps” for more tips.
Earnings growth picked up last quarter from 0% to 5%. But revenue gains fell from -5% to -16%.
The company holds the No. 14 rank among its peers in the Retail-Home Furnishings industry group. Haverty Furniture (HVT), Williams Sonoma (WSM) and Haverty Furniture (HVTA) are among the top 5 highly rated stocks within the group. For more industry news, check out “Retail And E-Commerce Stocks And Industry News.”
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