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.
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