This #1 (Strong Buy) Consumer Discretionary Stock is a Smart Buy Right Now
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Should You Buy #1 (Strong Buy)-Ranked BJ's Wholesale Club (BJ) for Your Portfolio?
BJ's Wholesale Club was upgraded to the Zacks Rank #1 list on August 23, 2022. The Zacks Rank is a unique stock-rating model that helps you take advantage of earnings estimate revision trends and provides a way to get into stocks highly sought after by institutional investors.
BJ's Wholesale Club Holdings, Inc. has emerged as one of the preferred destinations for shoppers when it comes to essentials and other items. The company’s focus on simplifying assortments, expanding own-brands portfolio, enhancing digital capabilities and providing value to customers has contributed to growth in membership signups and renewals. The company carries approximately 7,200 active stock keeping units. Notably, the company consistently offers 25% or more savings on a representative basket of manufacturer-branded groceries compared to traditional supermarket competitors.
Eight analysts revised their earnings estimate upwards in the last 60 days for fiscal 2023. The Zacks Consensus Estimate has increased $0.30 to $3.60 per share. BJ boasts an average earnings surprise of 16.5%.
Earnings are forecasted to see growth of 10.8% for the current fiscal year, and sales are expected to increase 15%.
Additionally, BJ has climbed higher over the past four weeks, gaining 5.9%. The S&P 500 is down 3.4% in comparison.
Bottom Line
With a #1 (Strong Buy) ranking, positive trend in earnings estimate revisions, and strong market momentum, BJ's Wholesale Club could be just the stock to help your portfolio generate returns that could fund your retirement, your kids' college tuition, or your short- and long-term savings goals.
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BJ's Wholesale Club Holdings, Inc. (BJ) : Free Stock Analysis Report
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