DA Davidson lifts Costco Wholesale Corporation [COST] price estimate. Who else is bullish?

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Costco Wholesale Corporation [NASDAQ: COST] gained 1.10% or 3.74 points to close at $344.61 with a heavy trading volume of 2370073 shares. The company report on August 5, 2020 that Costco Wholesale Corporation Reports July Sales Results.

Costco Wholesale Corporation (“Costco” or the “Company”) (Nasdaq: COST) today reported net sales of $13.04 billion for the retail month of July, the four weeks ended August 2, 2020, an increase of 14.1 percent from $11.43 billion last year.

For the forty-eight weeks ended August 2, 2020, the Company reported net sales of $149.66 billion, an increase of 8.8 percent from $137.56 billion during the similar period last year.

It opened the trading session at $340.07, the shares rose to $345.84 and dropped to $339.33, the range by which the price of stock traded the whole day. The daily chart for COST points out that the company has recorded 9.88% gains over the past six months. However, it is still -27.03% lower than its most recent low trading price.

If we look at the average trading volume of 2.46M shares, COST reached to a volume of 2370073 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about Costco Wholesale Corporation [COST]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for COST shares is $340.58 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on COST stock is a recommendation set at 2.30. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

DA Davidson have made an estimate for Costco Wholesale Corporation shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on August 14, 2020. While these analysts kept the previous recommendation, Credit Suisse raised their target price to Outperform. The new note on the price target was released on August 06, 2020, representing the official price target for Costco Wholesale Corporation stock. Previously, the target price had yet another raise from $350 to $355, while Telsey Advisory Group kept a Outperform rating on COST stock. On August 03, 2020, analysts increased their price target for COST shares from 330 to 350.

The Average True Range (ATR) for Costco Wholesale Corporation is set at 4.69, with the Price to Sales ratio for COST stock in the period of the last 12 months amounting to 0.94. The Price to Book ratio for the last quarter was 9.07, with the Price to Cash per share for the same quarter was set at 26.96. Price to Free Cash Flow for COST in the course of the last twelve months was 53.77 with Quick ratio for the last quarter at 0.60.

Trading performance analysis for COST stock

Costco Wholesale Corporation [COST] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 2.48. With this latest performance, COST shares gained by 5.67% in over the last four-week period, additionally plugging by 9.88% over the last 6 months – not to mention a rise of 23.11% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for COST stock in for the last two-week period is set at 71.58, with the RSI for the last a single of trading hit 71.97, and the three-weeks RSI is set at 67.27 for Costco Wholesale Corporation [COST]. The present Moving Average for the last 50 days of trading for this stock 321.61, while it was recorded at 341.42 for the last single week of trading, and 307.41 for the last 200 days.

Costco Wholesale Corporation [COST]: A deeper dive into fundamental analysis

Costco Wholesale Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.60 and a Current Ratio set at 1.10.

Costco Wholesale Corporation [COST]: An earnings per share (EPS) analysis

With the latest financial reports released by the company, Costco Wholesale Corporation posted 2.69/share EPS, while the average EPS was predicted by analysts to be reported at 2.54/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 5.90%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for COST. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Costco Wholesale Corporation go to 7.15%.

An analysis of insider ownership at Costco Wholesale Corporation [COST]

There are presently around $105,860 million, or 70.80% of COST stock, in the hands of institutional investors. The top three institutional holders of COST stocks are: VANGUARD GROUP INC with ownership of 37,934,811, which is approximately -3.233% of the company’s market cap and around 0.10% of the total institutional ownership; BLACKROCK INC., holding 30,263,234 shares of the stock with an approximate value of $10.43 billion in COST stocks shares; and STATE STREET CORP, currently with $6.34 billion in COST stock with ownership of nearly 0.321% of the company’s market capitalization.

1,085 institutional holders increased their position in Costco Wholesale Corporation [NASDAQ:COST] by around 16,744,112 shares. Additionally, 874 investors decreased positions by around 19,226,392 shares, while 251 investors held positions by with 271,218,581 shares. The mentioned changes placed institutional holdings at 307,189,085 shares, according to the latest SEC report filing. COST stock had 157 new institutional investments in for a total of 2,169,810 shares, while 119 institutional investors sold positions of 2,082,474 shares during the same period.

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