Costco (COST) Received its Third Buy in a Row

By Ryan Adsit

After Morgan Stanley and Gordon Haskett Capital Corporation gave Costco (NASDAQ: COST) a Buy rating last month, the company received another Buy, this time from Oppenheimer. Analyst Rupesh Parikh maintained a Buy rating on Costco today and set a price target of $335.00. The company’s shares closed last Wednesday at $305.97.

According to TipRanks.com, Parikh is a 5-star analyst with an average return of 14.0% and a 60.1% success rate. Parikh covers the Services sector, focusing on stocks such as United Natural Foods, Sprouts Farmers, and Dollar General.

Costco has an analyst consensus of Moderate Buy, with a price target consensus of $329.94, which is an 8.1% upside from current levels. In a report issued on March 24, Cowen & Co. also maintained a Buy rating on the stock with a $360.00 price target.

See today’s analyst top recommended stocks >>

Based on Costco’s latest earnings release for the quarter ending February 29, the company reported a quarterly revenue of $39.07 billion and net profit of $931 million. In comparison, last year the company earned revenue of $35.4 billion and had a net profit of $889 million.

Based on the recent corporate insider activity of 69 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of COST in relation to earlier this year.

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. engages in the operation of membership warehouses. Its product categories include food and sundries, hardlines, fresh foods, softlines, and ancillary. It operates through the following segments: Unites States Operations, Canadian Operations, and Other International Operations. The company was founded by James D. Sinegal and Jeffrey H. Brotman in 1983 and is headquartered in Issaquah, WA.