In this article, we will be looking at the 5 best home appliance stocks to buy. If you want to see our detailed analysis of these stocks, you can go directly to the 10 Best Home Appliance Stocks to Buy.
5. Best Buy Co., Inc. (NYSE: BBY)
Number of Hedge Fund Holders: 33
Best Buy Co., Inc. (NYSE: BBY) is a retailer of technology products in the US and Canada, but the company’s stores also provide consumers with appliances like dishwashers, ovens, refrigerators, and other related products. It ranks 5th on our list of the best home appliance stocks to buy.
This June, Loop Capital kept its Buy rating on Best Buy Co., Inc. (NYSE: BBY) alongside its $150 price target on the shares. Analyst Anthony Chukumba commented that the company’s prices are competitive when compared to those of Amazon’s, and Best Buy Co., Inc. (NYSE: BBY) may also be set to benefit from companies returning to work in offices.
In the fiscal first quarter of 2022, Best Buy Co., Inc. (NYSE: BBY) had an EPS of $2.23, beating estimates by $0.81. The company’s revenue was $11.64 billion, up 35.91% year over year, beating estimates by $1.21 billion. Best Buy Co., Inc. (NYSE: BBY) has a gross profit margin of 22.55% and it has gained 29.49% in the past year.
By the end of the first quarter of 2021, 33 hedge funds out of the 866 tracked by Insider Monkey held stakes in Best Buy Co., Inc. (NYSE: BBY). The total value of their stakes was roughly $957 million. This is compared to 38 hedge funds in the previous quarter with a total stake value of approximately $975 million.