Starbucks Co. (NASDAQ:SBUX) was downgraded to buy

Starbucks Co. (NASDAQ:SBUX) was downgraded by research analysts at Vetr from a “strong-buy” rating to a “buy” rating in a research report issued on Monday, Marketbeat reports. They presently have a $65.34 price objective on the coffee company’s stock. Vetr‘s target price suggests a potential upside of 9.45% from the company’s current price.
Shares of Starbucks (NASDAQ:SBUX) traded up 0.25% during trading on Monday, reaching $59.70. The company’s stock had a trading volume of 14,313,578 shares. The firm has a market cap of $88.24 billion and a PE ratio of 36.65. The stock’s 50 day moving average price is $58.02 and its 200-day moving average price is $59.11. Starbucks has a 12 month low of $42.05 and a 12 month high of $64.00.
Starbucks (NASDAQ:SBUX) last released its quarterly earnings data on Thursday, January 21st. The coffee company reported $0.46 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.45 by $0.01. The company had revenue of $5.37 billion for the quarter, compared to the consensus estimate of $5.39 billion. Starbucks’s revenue for the quarter was up 11.9% compared to the same quarter last year. During the same period last year, the company earned $0.80 EPS. Equities analysts predict that Starbucks will post $1.89 EPS for the current year.