Edward Jones Thinks Costco’s Stock is Going to Recover

By Carrie Williams

Edward Jones analyst Brian Yarbrough upgraded Costco (NASDAQ: COST) to Buy today. The company’s shares opened today at $143.54, close to its 52-week low of $138.57.

According to TipRanks.com, Yarbrough is ranked #402 out of 4186 analysts.

Currently, the analyst consensus on Costco is Strong Buy and the average price target is $171.13, representing a 19.2% upside.

In a report issued on November 3, Nomura Holdings also reiterated a Buy rating on the stock with a $185 price target.

Costco’s market cap is currently $63.92B and has a P/E ratio of 27.36. The company has a book value ratio of 5.2917.

Based on the recent corporate insider activity of 46 insiders, corporate insider sentiment is negative on the stock. Earlier this month, Richard Galanti, the EVP & CFO of COST sold 1,930 shares for a total of $277,013.

Costco Wholesale Corp. operates membership warehouses based on the concept that offering members low prices on a limited selection of nationally branded and select private-label products in a wide range of merchandise categories. It operates warehouses in the U.S., Canada, the United Kingdom, Japan and Australia and through majority-owned subsidiaries in Taiwan and Korea. The company warehouses present exclusive product category selections to be found under a single roof, which include appliances, auto and tires, baby, kids and toys, clothing and handbags, computers and printers, electronics, food and gift baskets, funeral, furniture, gift cards, tickets & floral, hardware health & beauty, home & decor, jewelry & watches, office products, patio, outdoor & pets, sports & fitness, travel & luggage. It also provides ancillary and other services that include gas stations, pharmacy, food court, optical, one-hour photo, hearing aid and travel. Costco Wholesale was founded by James D. Sinegal and Jeffrey H. Brotman in 1983 and is headquartered in Issaquah, WA.