9.75% to Target, Cowen & Co. Reaffirms Buy Rating for Costco (COST) Stock; Ciena (CIEN) Shorts Down By 12.82%

June 19, 2018 - By Adrian Mccoy

Costco Wholesale Corporation (NASDAQ:COST) Logo

Ciena Corporation (NYSE:CIEN) had a decrease of 12.82% in short interest. CIEN’s SI was 16.13 million shares in June as released by FINRA. Its down 12.82% from 18.50 million shares previously. With 2.85M avg volume, 6 days are for Ciena Corporation (NYSE:CIEN)’s short sellers to cover CIEN’s short positions. The SI to Ciena Corporation’s float is 11.45%. The stock decreased 0.36% or $0.09 during the last trading session, reaching $25.02. About 1.08M shares traded. Ciena Corporation (NYSE:CIEN) has risen 7.17% since June 19, 2017 and is uptrending. It has underperformed by 5.40% the S&P500. Some Historical CIEN News: ; 13/03/2018 – SMTC Appoints Steve Waszak as Chief Financial Officer; 06/03/2018 – Ciena 1Q Loss/Shr $3.29; 06/03/2018 – Ciena Cites $476.9 Million in Additional Tax Expense From Tax Bill for 1Q Loss; 16/03/2018 – Ciena Forms Golden Cross: Technicals; 06/03/2018 – Ciena 1Q Loss $473.4M; 13/03/2018 – Ciena Reveals New Solutions that Tackle Fiber Densification Challenges and Create More Adaptive Networks; 15/05/2018 – GlobeNet Strengthens its Latin American Submarine Network with Ciena; 31/05/2018 – Ciena 2Q EBITDA $77.1M; 06/03/2018 – CIENA 1Q REV. $646.1M, EST. $641.8M; 31/05/2018 – Ciena 2Q Rev $730M

In an analyst note sent to investors on 15 June, Costco (NASDAQ:COST) stock Buy was restate at Cowen & Co.. They currently have a $228.0000 target price on the stock. Cowen & Co.’s target price would indicate a potential upside of 9.75% from the company’s last stock price.

Investors sentiment decreased to 0.92 in Q1 2018. Its down 0.06, from 0.98 in 2017Q4. It dropped, as 62 investors sold Costco Wholesale Corporation shares while 440 reduced holdings. 92 funds opened positions while 371 raised stakes. 305.24 million shares or 0.97% less from 308.22 million shares in 2017Q4 were reported. Roosevelt Grp invested in 3,064 shares or 0.05% of the stock. Mitsubishi Ufj & Banking Corporation holds 0.31% or 928,065 shares. Qs Ltd Liability Corporation accumulated 0.08% or 41,638 shares. Harvest Mngmt invested in 0.15% or 2,100 shares. Rwc Asset Mngmt Llp reported 40,028 shares. 125,459 were accumulated by Scotia Capital Incorporated. Baxter Bros has invested 0.19% in Costco Wholesale Corporation (NASDAQ:COST). Timber Hill Lc accumulated 0.21% or 7,247 shares. Moneta Gru Advisors Limited Liability accumulated 1,505 shares. Moreover, Ims Cap Mngmt has 0.16% invested in Costco Wholesale Corporation (NASDAQ:COST). Gradient Investments Limited Liability Co owns 726 shares or 0.01% of their US portfolio. Alphamark Limited Liability invested in 461 shares. The New York-based Alkeon Capital Ltd Llc has invested 0% in Costco Wholesale Corporation (NASDAQ:COST). Piedmont Advisors Ltd Limited Liability Company reported 65,521 shares. Confluence Wealth Mngmt Ltd Liability Com invested 0.59% of its portfolio in Costco Wholesale Corporation (NASDAQ:COST).

More notable recent Costco Wholesale Corporation (NASDAQ:COST) news were published by: Seekingalpha.com which released: “BJ’s Wholesale preps for IPO” on June 18, 2018, also Nasdaq.com with their article: “BJ’s Wholesale Club IPO: 14 Things We Know So Far” published on June 18, 2018, Seekingalpha.com published: “Costco: Small Margins But Large Growth” on June 15, 2018. More interesting news about Costco Wholesale Corporation (NASDAQ:COST) were released by: Seekingalpha.com and their article: “Costco: Cheaper Than You Think” published on June 15, 2018 as well as Globenewswire.com‘s news article titled: “Costco Wholesale Corporation Reports May Sales Results” with publication date: June 07, 2018.

The stock increased 0.74% or $1.535 during the last trading session, reaching $207.745. About 870,347 shares traded. Costco Wholesale Corporation (NASDAQ:COST) has risen 13.52% since June 19, 2017 and is uptrending. It has outperformed by 0.95% the S&P500. Some Historical COST News: 16/05/2018 – As Skin-Baring Season Dawns, SeroVital’s hGH Booster Becomes Easier to Find Through National Costco Distribution; 30/04/2018 – JPMorgan Disciplined Equity Adds Medtronic, Exits Costco; 19/04/2018 – EnWave Receives First Repeat Costco Order from Pacific Northwest Division for Moon Cheese; 07/03/2018 – COSTCO FEB. U.S. COMP SALES EX-GAS UP 7.5%, EST. UP 6.2%; 24/04/2018 – COSTCO WHOLESALE REPORTS AN BOOST IN QTRLY CASH DIV; 23/03/2018 – There is ‘no truth’ to Target-Kroger merger report, source tells CNBC; 16/03/2018 – Seattle Minutes: Officers Arrest Costco Thieves in Bulk; 25/05/2018 – Pioneer Core Equity Adds Costco, Exits Comcast, Cuts Apple; 08/03/2018 – Costco’s Squeeze on Suppliers Signifies Pain for P&G, Nestle; 09/05/2018 – Costco Wholesale Corporation Reports April Sales Results

Among 33 analysts covering Costco Wholesale (NASDAQ:COST), 24 have Buy rating, 0 Sell and 9 Hold. Therefore 73% are positive. Costco Wholesale has $230.0 highest and $144.0 lowest target. $197.03’s average target is -5.16% below currents $207.745 stock price. Costco Wholesale had 133 analyst reports since August 24, 2015 according to SRatingsIntel. As per Thursday, September 28, the company rating was maintained by Jefferies. Deutsche Bank maintained the stock with “Buy” rating in Tuesday, May 31 report. On Thursday, December 3 the stock rating was maintained by Stifel Nicolaus with “Buy”. On Friday, April 7 the stock rating was maintained by BMO Capital Markets with “Outperform”. Northcoast downgraded the shares of COST in report on Tuesday, November 3 to “Neutral” rating. The rating was upgraded by UBS to “Buy” on Monday, October 26. Robert W. Baird maintained Costco Wholesale Corporation (NASDAQ:COST) on Thursday, June 7 with “Buy” rating. The rating was initiated by RBC Capital Markets with “Outperform” on Tuesday, May 3. The firm has “Equal-Weight” rating by Barclays Capital given on Thursday, March 31. As per Monday, January 8, the company rating was maintained by Oppenheimer.

Since December 22, 2017, it had 0 insider buys, and 16 sales for $19.94 million activity. $589,470 worth of Costco Wholesale Corporation (NASDAQ:COST) was sold by MEISENBACH JOHN W on Tuesday, May 1. $977,510 worth of Costco Wholesale Corporation (NASDAQ:COST) was sold by Vachris Roland Michael. $958,087 worth of stock was sold by GALANTI RICHARD A on Friday, December 22. The insider Hines Daniel M. sold 7,000 shares worth $1.43M. Another trade for 17,000 shares valued at $3.15 million was made by Rose Timothy L. on Friday, March 9. On Thursday, April 19 Miller Russell D sold $2.41M worth of Costco Wholesale Corporation (NASDAQ:COST) or 12,393 shares. 6,985 shares were sold by MOULTON PAUL G, worth $1.31M on Monday, January 8.

Analysts await Costco Wholesale Corporation (NASDAQ:COST) to report earnings on October, 4. They expect $2.28 EPS, up 9.62% or $0.20 from last year’s $2.08 per share. COST’s profit will be $999.88 million for 22.78 P/E if the $2.28 EPS becomes a reality. After $1.70 actual EPS reported by Costco Wholesale Corporation for the previous quarter, Wall Street now forecasts 34.12% EPS growth.

Costco Wholesale Corporation, together with its subsidiaries, operates membership warehouses. The company has market cap of $91.11 billion. It offers branded and private-label products in a range of merchandise categories. It has a 30.42 P/E ratio. The firm provides dry and packaged foods, and groceries; snack foods, candies, alcoholic and nonalcoholic beverages, and cleaning supplies; appliances, electronics, health and beauty aids, hardware, and garden and patio; meat, bakery, deli, and produces; and apparel and small appliances.

Among 26 analysts covering Ciena (NYSE:CIEN), 22 have Buy rating, 0 Sell and 4 Hold. Therefore 85% are positive. Ciena had 96 analyst reports since August 18, 2015 according to SRatingsIntel. The stock of Ciena Corporation (NYSE:CIEN) has “Buy” rating given on Friday, September 1 by Northland Capital. The rating was maintained by Morgan Stanley on Friday, March 9 with “Equal-Weight”. M Partners maintained the shares of CIEN in report on Tuesday, February 27 with “Buy” rating. On Friday, June 1 the stock rating was maintained by BMO Capital Markets with “Outperform”. The rating was maintained by Deutsche Bank with “Hold” on Friday, September 1. As per Wednesday, September 9, the company rating was upgraded by RBC Capital Markets. Citigroup maintained the shares of CIEN in report on Thursday, August 25 with “Hold” rating. The stock has “Buy” rating by Stifel Nicolaus on Thursday, August 31. Citigroup maintained the stock with “Neutral” rating in Friday, June 3 report. Deutsche Bank maintained the stock with “Hold” rating in Friday, June 3 report.

Investors sentiment increased to 1.3 in 2018 Q1. Its up 0.36, from 0.94 in 2017Q4. It increased, as 24 investors sold Ciena Corporation shares while 82 reduced holdings. 48 funds opened positions while 90 raised stakes. 142.76 million shares or 0.19% more from 142.49 million shares in 2017Q4 were reported. Her Majesty The Queen In Right Of The Province Of Alberta As Represented By Alberta Investment Corp reported 41,600 shares. Point72 Asset Mgmt L P holds 773,907 shares. Parametric Associates Lc reported 0.01% stake. Southport Lc invested in 1.8% or 20,000 shares. Benjamin F Edwards And reported 0.08% of its portfolio in Ciena Corporation (NYSE:CIEN). Regions Corporation has 0% invested in Ciena Corporation (NYSE:CIEN). Ohio-based Meeder Asset has invested 0% in Ciena Corporation (NYSE:CIEN). Washington Capital Mngmt Inc stated it has 0.52% of its portfolio in Ciena Corporation (NYSE:CIEN). Adirondack Research Management has invested 1.96% in Ciena Corporation (NYSE:CIEN). California State Teachers Retirement Systems owns 0.01% invested in Ciena Corporation (NYSE:CIEN) for 218,556 shares. Moreover, Macquarie Grp has 0.01% invested in Ciena Corporation (NYSE:CIEN). Synovus Corporation, Georgia-based fund reported 14 shares. 62,700 are held by Nordea Management. U S Glob Invsts, Texas-based fund reported 43,597 shares. Axa, a France-based fund reported 58,000 shares.

Since January 11, 2018, it had 0 insider buys, and 60 sales for $4.70 million activity. 2,000 shares valued at $46,252 were sold by MOYLAN JAMES E JR on Wednesday, February 21. FRODSHAM JAMES sold $92,564 worth of stock or 4,000 shares. SMITH GARY B also sold $196,916 worth of Ciena Corporation (NYSE:CIEN) shares. On Monday, March 26 NETTLES PATRICK H sold $50,937 worth of Ciena Corporation (NYSE:CIEN) or 1,972 shares. Shares for $25,153 were sold by McFeely Scott on Tuesday, May 15. On Wednesday, March 21 the insider PETRIK ANDREW C sold $15,496. $45,501 worth of Ciena Corporation (NYSE:CIEN) shares were sold by Rothenstein David M.

Ciena Corporation provides equipment, software, and services that support the transport, switching, aggregation, service delivery, and management of voice, video, and data traffic on communications networks worldwide. The company has market cap of $3.57 billion. The companyÂ’s Networking Platforms segment offers hardware networking solutions optimized for the convergence of coherent optical transport, optical transport network switching, and packet switching. It has a 5.41 P/E ratio. The Company’s products include 6500 Packet-Optical Platform and the 5430 Reconfigurable Switching System, Waveserver stackable interconnect system, CoreDirector Multiservice Optical Switches, and OTN configuration for the 5410 Reconfigurable Switching System, as well as Z-Series Packet-Optical Platform; 3000 family of service delivery switches and service aggregation switches, and the 5000 family of service aggregation switches, as well as 8700 Packetwave Platform and the Ethernet packet configuration for the 5410 Service Aggregation Switch; and 4200 Advanced Services Platform, Corestream 5100/5200 Advanced Services Platform, Common Photonic Layer, and 6100 Multiservice Optical Platform.

Ciena Corporation (NYSE:CIEN) Institutional Positions Chart

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