Ross Stores, Inc. (ROST) PT Raised to $71.00

Ross Stores, Inc. (NASDAQ:ROST) had its price objective raised by BMO Capital Markets from $65.00 to $71.00 in a research report issued on Friday. The brokerage presently has a “market perform” rating on the apparel retailer’s stock. BMO Capital Markets’ price objective indicates a potential upside of 8.08% from the company’s previous close.

A number of other analysts also recently commented on the company. Royal Bank Of Canada set a $62.00 price objective on Ross Stores and gave the stock a “hold” rating in a research report on Monday, October 30th. Buckingham Research reiterated a “neutral” rating and issued a $71.00 price objective on shares of Ross Stores in a research report on Thursday, October 19th. Sanford C. Bernstein initiated coverage on Ross Stores in a research report on Tuesday, September 12th. They set an “outperform” rating and a $74.00 target price for the company. Zacks Investment Research downgraded Ross Stores from a “buy” rating to a “hold” rating in a research report on Monday, September 25th. Finally, J P Morgan Chase & Co restated a “neutral” rating and set a $65.00 target price (down previously from $68.00) on shares of Ross Stores in a research report on Sunday, August 20th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and fifteen have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $72.48.

Shares of Ross Stores (NASDAQ:ROST) traded up $1.08 during trading hours on Friday, reaching $65.69. The company had a trading volume of 4,665,700 shares, compared to its average volume of 2,934,564. Ross Stores has a 1 year low of $52.85 and a 1 year high of $69.81. The company has a market cap of $27,860.00, a P/E ratio of 21.32, a price-to-earnings-growth ratio of 2.00 and a beta of 1.09. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.76 and a current ratio of 1.64.

Ross Stores (NASDAQ:ROST) last announced its quarterly earnings data on Thursday, November 16th. The apparel retailer reported $0.72 EPS for the quarter, topping the Zacks’ consensus estimate of $0.67 by $0.05. Ross Stores had a return on equity of 42.95% and a net margin of 8.87%. The company had revenue of $3.33 billion during the quarter, compared to the consensus estimate of $3.26 billion. During the same quarter last year, the company earned $0.62 EPS. The company’s quarterly revenue was up 7.8% on a year-over-year basis. research analysts predict that Ross Stores will post 3.22 EPS for the current fiscal year.

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In other Ross Stores news, insider Brian R. Morrow sold 6,157 shares of the business’s stock in a transaction that occurred on Wednesday, October 4th. The stock was sold at an average price of $65.30, for a total transaction of $402,052.10. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Barbara Rentler sold 15,492 shares of the company’s stock in a transaction that occurred on Tuesday, September 12th. The shares were sold at an average price of $61.00, for a total value of $945,012.00. The disclosure for this sale can be found here. 2.30% of the stock is owned by insiders.

Several institutional investors have recently bought and sold shares of ROST. Balentine LLC grew its position in shares of 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 purchasing an additional 5 shares during the last quarter. Parkside Financial Bank & Trust grew its position in shares of Ross Stores by 3.4% in the second quarter. Parkside Financial Bank & Trust now owns 1,868 shares of the apparel retailer’s stock valued at $108,000 after purchasing an additional 61 shares during the last quarter. Acrospire Investment Management LLC grew its position in shares of Ross Stores by 100.0% in the second quarter. Acrospire Investment Management LLC now owns 2,000 shares of the apparel retailer’s stock valued at $115,000 after purchasing an additional 1,000 shares during the last quarter. Zions Bancorporation boosted its stake in shares of Ross Stores by 338.9% in the third quarter. Zions Bancorporation now owns 2,120 shares of the apparel retailer’s stock valued at $137,000 after buying an additional 1,637 shares during the period. Finally, Welch Group LLC boosted its stake in shares of Ross Stores by 35.2% in the second quarter. Welch Group LLC now owns 2,752 shares of the apparel retailer’s stock valued at $159,000 after buying an additional 716 shares during the period. 90.51% of the stock is currently owned by institutional investors.

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.

Analyst Recommendations for Ross Stores (NASDAQ:ROST)

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