Costco Received its Third Buy in a Row


After Loop Capital Markets and Stifel Nicolaus gave Costco (NASDAQ: COST) a Buy rating last month, the company received another Buy, this time from Raymond James. Analyst Budd Bugatch maintained a Buy rating on Costco (NASDAQ: COST) today and set a price target of $225. The company’s shares closed yesterday at $214.85, close to its 52-week high of $217.13.

Bugatch has an average return of 23.6% when recommending Costco.

According to TipRanks.com, Bugatch is ranked #921 out of 4843 analysts.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Costco with a $222.40 average price target, representing a 3.5% upside. In a report issued on July 9, Robert W. Baird also reiterated a Buy rating on the stock with a $230 price target.

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Based on Costco’s latest earnings release for the quarter ending May 31, the company reported a quarterly revenue of $32.36 billion and net profit of $750 million. In comparison, last year the company earned revenue of $28.86 billion and had a net profit of $700 million.

Based on the recent corporate insider activity of 90 insiders, corporate insider sentiment is negative on the stock.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Costco Wholesale Corp. operates membership warehouses based on the concept that offering members low prices on a limited selection of nationally branded and private-label products in a range of merchandise categories.

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