Evercore ISI Believes Costco (NASDAQ: COST) Still Has Room to Grow

Evercore ISI analyst Greg Melich maintained a Buy rating on Costco (COSTResearch Report) on September 24. The company’s shares closed last Friday at $467.75, close to its 52-week high of $469.77.

According to TipRanks.com, Melich is a 3-star analyst with an average return of 10.1% and a 71.4% success rate. Melich covers the Consumer Goods sector, focusing on stocks such as Academy Sports and Outdoors, Floor & Decor Holdings, and O’Reilly Auto.

Costco has an analyst consensus of Strong Buy, with a price target consensus of $479.47, representing a 5.2% upside. In a report issued on September 9, Morgan Stanley also maintained a Buy rating on the stock with a $500.00 price target.

See today’s analyst top recommended stocks >>

Costco’s market cap is currently $206.8B and has a P/E ratio of 24.90. The company has a Price to Book ratio of 12.13.

Based on the recent corporate insider activity of 54 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.