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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