Bank of America Securities analyst Robert Ohmes has reiterated their bullish stance on BJ stock, giving a Buy rating yesterday.
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Robert Ohmes has given his Buy rating due to a combination of factors that highlight BJ’s Wholesale Club Holdings’ strong performance and strategic initiatives. The company’s third-quarter earnings per share exceeded expectations, and its membership fee income saw significant growth. Despite a slight underperformance in comparable sales excluding gas, BJ’s demonstrated resilience with a balanced performance across various merchandise categories and a notable increase in digitally enabled sales.
Furthermore, BJ’s strategic investments in pricing, new product launches, and expansion plans are expected to bolster long-term growth. The company is on track to open numerous new clubs, which are anticipated to enhance membership numbers significantly. Additionally, BJ’s focus on digital enhancements and retail media growth is likely to support member engagement and profitability, justifying the Buy rating despite a cautious near-term outlook.
In another report released yesterday, TD Cowen also reiterated a Buy rating on the stock with a $108.00 price target.
Based on the recent corporate insider activity of 55 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 BJ in relation to earlier this year.