Costco Is Down 20% From Its High. Time to Buy?
Few retail stocks are as popular as Costco Wholesale (NASDAQ: COST) these days. The membership-based warehouse retailer has put up strong growth numbers during the worst of the pandemic and in the recovery over the last year. It's fended off a challenge from Amazon, it's proven it can grow through both the e-commerce channels and through its stores, and it continues to open new locations.
While Costco has held up better than most of its retail peers over the last year, the shares are still down 20% from their peak this spring. Is Costco a buy at the current price, or is it still too expensive at a price-to-earnings ratio of 37? Let's take a closer look at what the stock has to offer today.
Image source: Costco.
Source Fool.com
