Ross Stores, Inc. (NASDAQ:ROST)‘s stock had its “buy” rating reissued by equities research analysts at Deutsche Bank AG in a research note issued on Monday. They currently have a $75.00 price objective on the apparel retailer’s stock. Deutsche Bank AG’s price target points to a potential upside of 27.08% from the stock’s previous close.
Other equities research analysts have also issued reports about the company. Zacks Investment Research upgraded Ross Stores from a “hold” rating to a “buy” rating and set a $61.00 price objective for the company in a research note on Wednesday, July 12th. MKM Partners upped their price objective on Ross Stores from $77.00 to $78.00 and gave the stock a “buy” rating in a research note on Friday. Instinet restated a “buy” rating and issued a $74.00 price objective on shares of Ross Stores in a research note on Sunday. Bank of America Corporation restated a “buy” rating and issued a $80.00 price objective on shares of Ross Stores in a research note on Sunday. Finally, BMO Capital Markets set a $65.00 price objective on Ross Stores and gave the stock a “hold” rating in a research note on Thursday, July 6th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and thirteen have given a buy rating to the stock. Ross Stores has a consensus rating of “Buy” and a consensus price target of $69.11.
Shares of Ross Stores (NASDAQ:ROST) opened at 59.02 on Monday. The company’s 50 day moving average price is $55.18 and its 200 day moving average price is $62.10. Ross Stores has a 12 month low of $52.85 and a 12 month high of $69.81. The company has a market cap of $22.61 billion, a price-to-earnings ratio of 19.49 and a beta of 1.10.
Ross Stores (NASDAQ:ROST) last posted its quarterly earnings data on Thursday, August 17th. The apparel retailer reported $0.82 EPS for the quarter, topping the consensus estimate of $0.77 by $0.05. The firm had revenue of $3.43 billion during the quarter, compared to analyst estimates of $3.37 billion. Ross Stores had a return on equity of 42.95% and a net margin of 8.87%. Ross Stores’s revenue was up 7.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.71 EPS. On average, equities analysts expect that Ross Stores will post $3.17 EPS for the current fiscal year.
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In other Ross Stores news, Director Sharon D. Garrett sold 16,130 shares of the stock in a transaction dated Friday, May 26th. The shares were sold at an average price of $63.23, for a total transaction of $1,019,899.90. Following the completion of the transaction, the director now owns 4,967 shares of the company’s stock, valued at approximately $314,063.41. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.30% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in ROST. Guardian Life Insurance Co. of America increased its position in Ross Stores by 0.7% in the first quarter. Guardian Life Insurance Co. of America now owns 1,529 shares of the apparel retailer’s stock valued at $101,000 after buying an additional 10 shares during the period. TrimTabs Asset Management LLC increased its position in Ross Stores by 89.2% in the first quarter. TrimTabs Asset Management LLC now owns 1,646 shares of the apparel retailer’s stock valued at $108,000 after buying an additional 776 shares during the period. Nikko Asset Management Americas Inc. bought a new position in Ross Stores during the first quarter valued at approximately $112,000. Parallel Advisors LLC increased its position in Ross Stores by 39.1% in the first quarter. Parallel Advisors LLC now owns 1,701 shares of the apparel retailer’s stock valued at $111,000 after buying an additional 478 shares during the period. Finally, Balentine LLC increased its position in Ross Stores by 0.3% in the second quarter. Balentine LLC now owns 1,775 shares of the apparel retailer’s stock valued at $102,000 after buying an additional 5 shares during the period. 90.20% of the stock is owned by institutional investors and hedge funds.
Ross Stores Company Profile
Ross Stores, Inc and its subsidiaries operate two brands of off-price retail apparel and home fashion stores-Ross Dress for Less (Ross) and dd’s DISCOUNTS. The Company is the off-price apparel and home fashion chain in the United States, with 1,340 locations in 36 states, the District of Columbia and Guam, as of January 28, 2017.
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