Oppenheimer Keeps Their Hold Rating on Bj’s Wholesale Club Holdings Inc (BJ)


Oppenheimer analyst Rupesh Parikh maintained a Hold rating on Bj’s Wholesale Club Holdings Inc (BJ) yesterday. The company’s shares closed yesterday at $19.83, close to its 52-week low of $19.31.

Parikh commented:

“We overall look favorably upon the Q3 results reported by BJ’s. Adjusted EPS modestly topped Street forecasts, and management lifted full-year guidance. Comps increased 1.9%, ahead of a Street forecast of 1.7%. Two-year comp trends improved to 2.3% from 1.1% in Q2. We are also encouraged by the more aggressive actions taken by the management team to mitigate interest rate risks, as disclosed in the press release. This had represented one of our concerns on the BJ’s story. Please see our initiation report titled A Mixed Outlook for Shares; Initiating Perform (10/17/18 at $23.60) for our complete investment view.”

According to TipRanks.com, Parikh is a 5-star analyst with an average return of 16.5% and a 66.0% success rate. Parikh covers the Services sector, focusing on stocks such as Blue Apron Holdings Inc, United Natural Foods, and Wal-Mart Stores Inc.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Bj’s Wholesale Club Holdings Inc with a $32.25 average price target.

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Based on Bj’s Wholesale Club Holdings Inc’s latest earnings release for the quarter ending July 31, the company reported a quarterly GAAP net loss of $5.61 million. In comparison, last year the company had a net profit of $22.78 million.

Based on the recent corporate insider activity of 29 insiders, corporate insider sentiment is negative on the stock.

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BJ’s Wholesale Club Holdings, Inc. engages in the operation of warehouse club. The company was founded on June 24, 2011 and is headquartered in Westborough, MA.

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