Costco (COST) Gets a Buy Rating from BMO Capital

In a report released today, Kelly Bania from BMO Capital reiterated a Buy rating on Costco (COSTResearch Report), with a price target of $580.00. The company’s shares closed last Friday at $470.76.

According to TipRanks.com, Bania is a 4-star analyst with an average return of 5.3% and a 61.4% success rate. Bania covers the Consumer Goods sector, focusing on stocks such as United Natural Foods, The Chefs’ Warehouse, and Casey’s General.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Costco with a $583.95 average price target, which is a 27.8% upside from current levels. In a report issued on May 27, Evercore ISI also maintained a Buy rating on the stock with a $540.00 price target.

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Based on Costco’s latest earnings release for the quarter ending February 28, the company reported a quarterly revenue of $51.9 billion and net profit of $1.3 billion. In comparison, last year the company earned revenue of $45.28 billion and had a net profit of $1.22 billion.

Based on the recent corporate insider activity of 56 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.

Incorporated in 1983, Costco Wholesale Corp. operates an international chain of membership-only warehouse clubs. It sells product categories, including groceries, appliances, automotive supplies, toys, hardware, sporting goods, books, housewares, and apparel among others. The company is based in Issaquah, Washington.

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