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Starbucks Corp. (NASDAQ:SBUX) was upgraded by stock analysts at TheStreet from a “hold” rating to a “buy” rating in a report issued on Wednesday, StockRatingsNetwork reports.

The analysts wrote, “Starbucks Corporation (SBUX) has been upgraded by TheStreet Ratings from hold to buy. The company’s strengths can be seen in multiple areas, such as its revenue growth, increase in net income, solid stock price performance, growth in earnings per share and largely solid financial position with reasonable debt levels by most measures. We feel these strengths outweigh the fact that the company has had somewhat disappointing return on equity.”

Shares of Starbucks Corp. (NASDAQ:SBUX) traded up 0.13% on Wednesday, hitting $70.64. 3,078,370 shares of the company’s stock traded hands. Starbucks Corp. has a 52 week low of $53.08 and a 52 week high of $82.50. The stock has a 50-day moving average of $73.87 and a 200-day moving average of $76.29. The company has a market cap of $53.397 billion and a price-to-earnings ratio of 458.12.

Starbucks Corp. (NASDAQ:SBUX) last announced its earnings results on Thursday, January 23rd. The company reported $0.71 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.69 by $0.02. The company had revenue of $4.24 billion for the quarter, compared to the consensus estimate of $4.29 billion. During the same quarter last year, the company posted $0.57 earnings per share. Starbucks Corp.’s revenue was up 11.8% compared to the same quarter last year. On average, analysts predict that Starbucks Corp. will post $2.66 earnings per share for the current fiscal year.

A number of other analysts have also recently weighed in on SBUX. Analysts at Longbow Research initiated coverage on shares of Starbucks Corp. in a research note on Friday, February 7th. They set a “buy” rating on the stock. Separately, analysts at Wells Fargo & Co. upgraded shares of Starbucks Corp. from a “market perform” rating to an “outperform” rating in a research note on Friday, February 7th. Finally, analysts at Citigroup Inc. reiterated a “buy” rating on shares of Starbucks Corp. in a research note on Monday, January 27th. They now have a $89.00 price target on the stock, down previously from $93.00. Seven research analysts have rated the stock with a hold rating and twenty-eight have assigned a buy rating to the stock. Starbucks Corp. presently has a consensus rating of “Buy” and a consensus price target of $82.96.

Starbucks Corporation is a roaster, marketer and retailer of coffee operating in 60 countries. The Company purchases and roasts coffees that it sells, along with handcrafted coffee, tea and other beverages and a variety of fresh food items, through Company-operated stores.

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