Earlier that day an A.B. Bernstein analyst downgraded the equity to underperform from market perform, citing "too high" valuation and that investors are "overestimating" its growth prospects. The analyst Brandon Fletcher was also concerned that customers would shop elsewhere if the economy continues to slow down.
Shares of the membership warehouse club fell 1.57% during the session. Cramer called it "the first real price break" in Costco's stock in the past year.
"The next time some analyst knocks down a best-of-breed stock with a cogent downgrade that's focused on valuation, you need to take advantage of that best-of-breed-opportunity weakness and you need to do some buying," said the "Mad Money" host, who ranks Costco among his so-called .
The company is behind Homeaway, Trivago and its namesake Expedia brand.
"You've got this secular shift from things to experiences that is buoying travel," he said. "From what we can see, if you look at a global basis, travel is just going to continue to go up and up and up, and we're absolutely thrilled to be at the center of it all."
As the calendar inches closer to the fourth quarter, Cramer said Chipotle Mexican Grill will be a top target on the market as money managers get ready to double down on the highest winners of 2019.
The stock has trounced the this year, outperforming the broad index about 92% to 20% year-to-date.
"Usually when hedge funds and mutual funds anoint … their favorite winners going into the fourth quarter, those stocks keep winning until the big boys take profits in January," the host said.
If your investment portfolio includes oil stocks, it is time to sell some of them, Cramer said.
"I would scale them back," the stock market commentator advised.
If oil industry stocks "didn't have a sustained move" this week after roughly was lost in a drone attack, then "I don't know when it will," Cramer said.
In Cramer's lighting round, the "Mad Money" host zips through his thoughts about callers' stock questions of the day.
DocuSign: "Because it is the ultimate utility and I think that what happens, I'm not kidding, people use it and they love it and should've bought them. And I've got to tell you had Adobe bought them, I think the stock'd be flying. Adobe [is] actually coming down."
: "I like renewable energy. I think it's a good company."