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TheStreet Wire

Best Buy Stock Falls On Unusually High Volume (BBY)

By TheStreet Wire 03/29/12 - 02:28 PM EDT

Find out if (BBY) is in Cramer's Portfolio.

NEW YORK (TheStreet) -- Best Buy (NYSE:BBY) is trading at unusually high volume Thursday with 26.4 million shares changing hands. It is currently at four times its average daily volume and trading down $1.90 (-7.1%) at $24.72 as of 3:05 p.m. ET.

Best Buy has a market cap of $8.88 billion and is part of the services sector and retail industry. Shares are up 13.9% year to date as of the close of trading on Wednesday.

Best Buy Co., Inc. operates as a retailer of consumer electronics, home office products, entertainment products, appliances, and related services primarily in the United States, Europe, Canada, and China. The company has a P/E ratio of 9.6, above the average retail industry P/E ratio of nine and below the S&P 500 P/E ratio of 17.7.

TheStreet Ratings rates Best Buy as a hold. The company's strengths can be seen in multiple areas, such as its revenue growth, attractive valuation levels and good cash flow from operations. However, as a counter to these strengths, we also find weaknesses including deteriorating net income, poor profit margins and a generally disappointing performance in the stock itself. You can view the full Best Buy Ratings Report.

See all heavy volume stocks in our stocks moving on unusual volume list or get investment ideas from our investment research center.

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