TD Cowen Forecasts Strong Price Appreciation for BJ’s Wholesale Club (NYSE:BJ) Stock

BJ’s Wholesale Club (NYSE:BJ) had its price target raised by investment analysts at TD Cowen from $95.00 to $110.00 in a report issued on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. TD Cowen’s price objective would indicate a potential upside of 14.04% from the company’s previous close.

Several other brokerages have also weighed in on BJ. Jefferies Financial Group lifted their target price on shares of BJ’s Wholesale Club from $105.00 to $110.00 and gave the company a “buy” rating in a research report on Thursday. Melius Research initiated coverage on BJ’s Wholesale Club in a research note on Monday, September 23rd. They set a “buy” rating and a $90.00 price objective for the company. Bank of America dropped their target price on shares of BJ’s Wholesale Club from $95.00 to $90.00 and set a “buy” rating on the stock in a report on Friday, August 23rd. Wells Fargo & Company lifted their price target on shares of BJ’s Wholesale Club from $92.00 to $100.00 and gave the company an “overweight” rating in a research note on Tuesday, November 12th. Finally, Roth Mkm raised their price target on BJ’s Wholesale Club from $68.00 to $75.00 and gave the company a “neutral” rating in a report on Friday, August 23rd. Six investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $91.81.

BJ’s Wholesale Club Price Performance

BJ traded up $3.67 during trading on Friday, reaching $96.46. The stock had a trading volume of 1,254,680 shares, compared to its average volume of 1,491,467. BJ’s Wholesale Club has a 1-year low of $63.73 and a 1-year high of $96.91. The company has a quick ratio of 0.15, a current ratio of 0.76 and a debt-to-equity ratio of 0.24. The firm has a market capitalization of $12.79 billion, a price-to-earnings ratio of 24.36, a price-to-earnings-growth ratio of 4.19 and a beta of 0.24. The stock has a 50 day moving average of $85.52 and a two-hundred day moving average of $85.20.

BJ’s Wholesale Club (NYSE:BJ) last issued its earnings results on Thursday, August 22nd. The company reported $1.09 EPS for the quarter, topping the consensus estimate of $1.00 by $0.09. BJ’s Wholesale Club had a return on equity of 36.12% and a net margin of 2.62%. The business had revenue of $5.21 billion during the quarter, compared to analysts’ expectations of $5.15 billion. During the same quarter last year, the firm posted $0.97 earnings per share. BJ’s Wholesale Club’s revenue was up 4.9% compared to the same quarter last year. As a group, equities analysts anticipate that BJ’s Wholesale Club will post 3.84 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Robert W. Eddy sold 11,000 shares of BJ’s Wholesale Club stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $85.47, for a total transaction of $940,170.00. Following the completion of the transaction, the chief executive officer now directly owns 423,792 shares of the company’s stock, valued at $36,221,502.24. The trade was a 2.53 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Joseph Mcgrail sold 1,000 shares of the stock in a transaction on Monday, August 26th. The stock was sold at an average price of $83.57, for a total transaction of $83,570.00. Following the sale, the senior vice president now directly owns 13,566 shares in the company, valued at $1,133,710.62. This trade represents a 6.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 34,000 shares of company stock valued at $2,818,390. 2.00% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. CIBC Asset Management Inc raised its holdings in shares of BJ’s Wholesale Club by 3.3% during the third quarter. CIBC Asset Management Inc now owns 3,906 shares of the company’s stock valued at $322,000 after acquiring an additional 123 shares during the last quarter. Fifth Third Bancorp lifted its holdings in BJ’s Wholesale Club by 9.3% in the 2nd quarter. Fifth Third Bancorp now owns 1,461 shares of the company’s stock valued at $128,000 after purchasing an additional 124 shares in the last quarter. CWM LLC boosted its stake in BJ’s Wholesale Club by 7.4% during the 2nd quarter. CWM LLC now owns 1,863 shares of the company’s stock worth $164,000 after purchasing an additional 128 shares during the last quarter. OLD National Bancorp IN grew its holdings in shares of BJ’s Wholesale Club by 2.5% during the third quarter. OLD National Bancorp IN now owns 5,438 shares of the company’s stock worth $449,000 after buying an additional 133 shares in the last quarter. Finally, Integrated Wealth Concepts LLC raised its position in shares of BJ’s Wholesale Club by 5.2% in the third quarter. Integrated Wealth Concepts LLC now owns 2,710 shares of the company’s stock valued at $224,000 after buying an additional 133 shares during the last quarter. 98.60% of the stock is owned by institutional investors and hedge funds.

BJ’s Wholesale Club Company Profile

BJ's Wholesale Club Holdings, Inc, together with its subsidiaries, operates warehouse clubs on the eastern half of the United States. It provides groceries, general merchandise, gasoline and other ancillary services, coupon books, and promotions. The company sells its products through the websites BJs.com, BerkleyJensen.com, and Wellsleyfarms.com, as well as the mobile app.