Costco Wholesale Corporation (NASDAQ:COST) announced the election to its Board of Directors of John W. Stanton, Chairman of Trilogy International Partners, Inc., and Trilogy Equity Partners. Mr. Stanton founded and served as Chairman and Chief Executive Officer of Western Wireless Corporation, a wireless telecommunications company, from 1992 until shortly after its acquisition by ALLTEL Corporation in 2005. He was Chairman and a director of T-Mobile USA, formerly VoiceStream Wireless Corporation, a mobile telecommunications company, from 1994 to 2004, and was Chief Executive Officer from 1998 to 2003. Mr. Stanton was a director of Clearwire Corporation from 2008 to 2013 and Chairman between 2011 and 2013.
Jeff Brotman, Chairman of the Board, stated: “We are very pleased to welcome John as a new member of our Board. He is widely recognized as a pioneer and leader in the wireless telecommunications industry. He brings substantial experience as a seasoned entrepreneur and chief executive and as a board member of prominent companies.” (Original Source)
Shares of Costco Wholesale closed today at $158.28, up $0.52 or 0.33%. COST has a 1-year high of $158.80 and a 1-year low of $117.03. The stock’s 50-day moving average is $148.22 and its 200-day moving average is $143.89.
On the ratings front, Costco Wholesale has been the subject of a number of recent research reports. In a report issued on October 26, UBS analyst Michael Lasser upgraded COST to Buy, with a price target of $180, which represents a potential upside of 13.7% from where the stock is currently trading. Separately, on October 23, Williams Capital Group’s Marc Riddick reiterated a Hold rating on the stock and has a price target of $165.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Michael Lasser and Marc Riddick have a total average return of 10.3% and 13.1% respectively. Lasser has a success rate of 61.9% and is ranked #335 out of 3808 analysts, while Riddick has a success rate of 82.1% and is ranked #582.
Overall, 2 research analysts have assigned a Hold rating and 6 research analysts have given a Buy rating to the stock. When considering if perhaps the stock is under or overvalued, the average price target is $161.20 which is 1.8% above where the stock opened today.
Costco Wholesale Corp and its subsidiaries operates membership warehouses. The Company offers its members low prices on a limited selection of nationally branded and select private-label products in merchandise categories.