Best Buy: S&P Intraday Gainer
NEW YORK (TheStreet) -- Best Buy(BBY) was the best-performing stock in the S&P 500 on Monday morning.
The S&P 500 was down more than 2 points, or 0.18%, to 1,359.
Shares of Best Buy rose 8.54% Monday morning to $22.75. Last week, The Wall Street Journal reported th electronics retailer is a candidate for a buyout with its founder, Richard Schulze, working on taking the company private.
Best Buy trades at an estimated price-to-earnings ratio for next year of 4.99 times; the average among its peers is 5.67. For comparison, GameStop(GME) has a higher forward P/E of 6.35.
Twenty-three of the 29 analysts who cover Best Buy rated it hold. Four analysts gave the stock a buy rating and two rated it sell.
The stock has fallen 2.48% year to date.
-- Written by Alexandra Zendrian
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