Costco Wholesale Corporation [COST] stock Reiterated by Truist analyst, price target now $603


Costco Wholesale Corporation [NASDAQ: COST] traded at a low on 05/18/22, posting a -12.45 loss after which it closed the day’ session at $429.40. The company report on May 5, 2022 that The Joint Corp. Reports First Quarter 2022 Financial Results.

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– Grew Revenue 28%, System-wide Sales 27%, and System-wide Comp Sales 15%, Versus Q1 2021 — Opened 31 Clinics, Including 27 Franchised – the Most for a First Quarter in the Company’s History — Achieved Milestone of 100 Corporate Portfolio Clinics, Bringing Total Clinics to 736 -.

The Joint Corp. (NASDAQ: JYNT), a national operator, manager, and franchisor of chiropractic clinics, reported its financial results for the quarter ended March 31, 2022.

The results of the trading session contributed to over 9483841 shares changing hands. Over the past one week, the price volatility of Costco Wholesale Corporation stands at 3.84% while the volatility over the past one month is 3.53%.

The market cap for COST stock reached $186.08 billion, with 443.62 million shares outstanding and 442.31 million shares in the current float. Compared to the average trading volume of 2.58M shares, COST reached a trading volume of 9483841 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say 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 $592.33 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 2.20. 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.

Truist have made an estimate for Costco Wholesale Corporation shares, keeping their opinion on the stock as Buy, with their previous recommendation back on March 04, 2022. While these analysts kept the previous recommendation, Telsey Advisory Group raised their target price from $610 to $615. The new note on the price target was released on March 04, 2022, representing the official price target for Costco Wholesale Corporation stock. Previously, the target price had yet another raise from $560 to $565, while Evercore ISI kept a Outperform rating on COST stock. On March 04, 2022, analysts increased their price target for COST shares from 560 to 580.

The Average True Range (ATR) for Costco Wholesale Corporation is set at 19.65, with the Price to Sales ratio for COST stock in the period of the last 12 months amounting to 0.89. The Price to Book ratio for the last quarter was 9.81, with the Price to Cash per share for the same quarter was set at 28.37. Price to Free Cash Flow for COST in the course of the last twelve months was 39.81 with Quick ratio for the last quarter at 0.50.

How has COST stock performed recently?

Costco Wholesale Corporation [COST] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -12.20. With this latest performance, COST shares dropped by -27.75% in over the last four-week period, additionally sinking by -18.48% over the last 6 months – not to mention a rise of 13.10% 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 21.04, with the RSI for the last a single of trading hit 15.65, and the three-weeks RSI is set at 25.92 for Costco Wholesale Corporation [COST]. The present Moving Average for the last 50 days of trading for this stock 549.46, while it was recorded at 479.57 for the last single week of trading, and 510.01 for the last 200 days.

Costco Wholesale Corporation [COST]: Deeper insight into the fundamentals

Costco Wholesale Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.50 and a Current Ratio set at 1.00.

Earnings analysis for Costco Wholesale Corporation [COST]

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 11.74%.

Insider trade positions for Costco Wholesale Corporation [COST]

There are presently around $148,246 million, or 69.00% of COST stock, in the hands of institutional investors. The top three institutional holders of COST stocks are: VANGUARD GROUP INC with ownership of 38,028,886, which is approximately 1.245% of the company’s market cap and around 0.10% of the total institutional ownership; BLACKROCK INC., holding 31,340,294 shares of the stock with an approximate value of $15.37 billion in COST stocks shares; and STATE STREET CORP, currently with $9.34 billion in COST stock with ownership of nearly 4.035% of the company’s market capitalization.

Positions in Costco Wholesale Corporation stocks held by institutional investors increased at the end of March and at the time of the March reporting period, where 1,338 institutional holders increased their position in Costco Wholesale Corporation [NASDAQ:COST] by around 14,506,853 shares. Additionally, 1,224 investors decreased positions by around 13,138,919 shares, while 401 investors held positions by with 274,607,456 shares. The mentioned changes placed institutional holdings at 302,253,228 shares, according to the latest SEC report filing. COST stock had 182 new institutional investments in for a total of 1,601,746 shares, while 115 institutional investors sold positions of 652,097 shares during the same period.