BJs Wholesale Club (BJ) Coverage Initiated at CIBC

Stock analysts at CIBC assumed coverage on shares of BJs Wholesale Club (NYSE:BJ) in a research report issued to clients and investors on Thursday. The brokerage set a “market perform” rating on the stock.

A number of other research firms have also weighed in on BJ. Loop Capital lifted their price objective on shares of BJs Wholesale Club to $35.00 and gave the company a “buy” rating in a research note on Wednesday, September 5th. Northcoast Research began coverage on shares of BJs Wholesale Club in a research note on Tuesday, September 25th. They issued a “buy” rating and a $38.00 price objective for the company. Citigroup began coverage on shares of BJs Wholesale Club in a research note on Tuesday, October 2nd. They issued a “buy” rating and a $31.00 price objective for the company. Wolfe Research began coverage on shares of BJs Wholesale Club in a research note on Monday, July 16th. They issued an “underperform” rating for the company. Finally, Gordon Haskett lowered shares of BJs Wholesale Club from a “buy” rating to an “accumulate” rating in a research note on Wednesday, July 25th. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $30.08.

Shares of BJ stock opened at $22.80 on Thursday. The company has a current ratio of 0.99, a quick ratio of 0.23 and a debt-to-equity ratio of -5.96. BJs Wholesale Club has a 12-month low of $20.56 and a 12-month high of $32.92.

BJs Wholesale Club (NYSE:BJ) last issued its quarterly earnings results on Tuesday, August 28th. The company reported $0.31 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.27 by $0.04. The company had revenue of $3.24 billion for the quarter, compared to analysts’ expectations of $3.28 billion. During the same quarter in the previous year, the business earned $0.22 EPS. The company’s revenue for the quarter was up 4.3% on a year-over-year basis. As a group, equities research analysts forecast that BJs Wholesale Club will post 0.92 EPS for the current year.

In other news, CEO Christopher J. Baldwin sold 302,668 shares of the business’s stock in a transaction on Monday, October 1st. The shares were sold at an average price of $25.09, for a total transaction of $7,593,940.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Scott Kessler sold 61,686 shares of the business’s stock in a transaction on Monday, October 1st. The shares were sold at an average price of $25.09, for a total transaction of $1,547,701.74. The disclosure for this sale can be found here. Insiders have sold a total of 15,430,535 shares of company stock valued at $400,833,662 over the last 90 days.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Strs Ohio bought a new stake in shares of BJs Wholesale Club during the 3rd quarter worth $334,000. Seven Eight Capital LP bought a new stake in shares of BJs Wholesale Club during the 3rd quarter worth $3,302,000. Oliver Luxxe Assets LLC bought a new stake in shares of BJs Wholesale Club during the 3rd quarter worth $702,000. Northern Trust Corp bought a new stake in shares of BJs Wholesale Club during the 2nd quarter worth $1,153,000. Finally, Bank of New York Mellon Corp bought a new stake in shares of BJs Wholesale Club during the 2nd quarter worth $298,000. Hedge funds and other institutional investors own 61.35% of the company’s stock.

About BJs Wholesale Club

BJ's Wholesale Club Holdings, Inc operates as a warehouse club on the East Coast of the United States. It offers perishable, edible grocery, general merchandise, and non-edible grocery products. The company also sells electronics, computers, office supplies and equipment, home products, health and beauty aids, sporting goods, outdoor living, baby products, toys, and jewelry through Website.

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Analyst Recommendations for BJs Wholesale Club (NYSE:BJ)

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