Costco Wholesale Receives Consensus Recommendation of “Buy” from Analysts (NASDAQ:COST)
Shares of Costco Wholesale (NASDAQ:COST) have received a consensus rating of “Buy” from the fourteen ratings firms that are covering the company, AR Network reports. Four analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $159.27.
A number of research firms have recently commented on COST. Analysts at S&P Equity Research raised their price target on shares of Costco Wholesale from $459.00 to $473.00 in a research note on Tuesday, July 29th. They now have a “buy” rating on the stock. Separately, analysts at Goldman Sachs upgraded shares of Costco Wholesale from a “neutral” rating to a “conviction-buy” rating in a research note on Tuesday, July 29th. They now have a $136.00 price target on the stock. Finally, analysts at Morgan Stanley initiated coverage on shares of Costco Wholesale in a research note on Tuesday, June 24th. They set an “overweight” rating and a $134.00 price target on the stock.
Shares of Costco Wholesale (NASDAQ:COST) traded up 0.33% on Tuesday, hitting $119.85. The stock had a trading volume of 387,299 shares. Costco Wholesale has a 52-week low of $109.50 and a 52-week high of $126.12. The stock’s 50-day moving average is $117.7 and its 200-day moving average is $115.2. The company has a market cap of $52.530 billion and a P/E ratio of 26.74.
Costco Wholesale (NASDAQ:COST) last announced its earnings results on Thursday, May 29th. The company reported $1.07 earnings per share for the quarter, missing the analysts’ consensus estimate of $1.09 by $0.02. The company had revenue of $25.23 billion for the quarter, compared to the consensus estimate of $25.70 billion. During the same quarter last year, the company posted $1.04 earnings per share. Costco Wholesale’s revenue was up 4.8% compared to the same quarter last year. Analysts expect that Costco Wholesale will post $4.59 EPS for the current fiscal year.
In other Costco Wholesale news, Chairman Jeffrey H. Brotman sold 161,445 shares of the company’s stock on the open market in a transaction dated Friday, August 15th. The shares were sold at an average price of $118.23, for a total transaction of $19,087,642.35. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
Costco Wholesale Corporation (NASDAQ:COST) with its subsidiaries is engaged in the operation of membership warehouses in the United States and Puerto Rico, Canada, the United Kingdom, Mexico, Japan, Australia, and through majority owned subsidiaries in Taiwan and Korea.
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