Nomura Analysts Give Ross Stores (ROST) a $80.00 Price Target

Nomura set a $80.00 price target on Ross Stores (NASDAQ:ROST) in a report published on Friday, November 17th. The firm currently has a buy rating on the apparel retailer’s stock.

Several other equities analysts have also recently commented on ROST. BidaskClub raised shares of Ross Stores from a strong sell rating to a sell rating in a research report on Monday, July 31st. Credit Suisse Group reissued a neutral rating and set a $64.00 target price (down previously from $70.00) on shares of Ross Stores in a report on Wednesday, August 2nd. Zacks Investment Research cut shares of Ross Stores from a buy rating to a hold rating in a report on Tuesday, August 8th. BMO Capital Markets set a $65.00 target price on shares of Ross Stores and gave the company a hold rating in a report on Tuesday, August 8th. Finally, UBS reduced their price target on shares of Ross Stores from $70.00 to $64.00 and set a neutral rating for the company in a research report on Friday, August 18th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and fifteen have issued a buy rating to the stock. The stock has an average rating of Buy and an average price target of $73.71.

Ross Stores (ROST) traded down $0.23 during mid-day trading on Friday, hitting $76.79. The stock had a trading volume of 2,032,761 shares, compared to its average volume of 2,972,786. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.68 and a current ratio of 1.57. The company has a market cap of $30,080.04, a price-to-earnings ratio of 24.92, a PEG ratio of 2.38 and a beta of 1.16. Ross Stores has a 1 year low of $52.85 and a 1 year high of $78.81.

Ross Stores (NASDAQ:ROST) last issued its earnings results on Thursday, November 16th. The apparel retailer reported $0.72 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.67 by $0.05. The company had revenue of $3.33 billion during the quarter, compared to the consensus estimate of $3.26 billion. Ross Stores had a return on equity of 43.21% and a net margin of 8.93%. The firm’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same period last year, the business posted $0.62 EPS. equities analysts forecast that Ross Stores will post 3.28 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 1st will be issued a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.83%. The ex-dividend date is Thursday, November 30th. Ross Stores’s payout ratio is 20.45%.

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

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in shares of Ross Stores by 1.9% during the 2nd quarter. Vanguard Group Inc. now owns 36,146,781 shares of the apparel retailer’s stock valued at $2,086,753,000 after purchasing an additional 686,186 shares during the period. Principal Financial Group Inc. raised its position in shares of Ross Stores by 13.1% during the 3rd quarter. Principal Financial Group Inc. now owns 7,332,752 shares of the apparel retailer’s stock valued at $473,476,000 after purchasing an additional 849,789 shares during the period. Flossbach Von Storch AG raised its position in shares of Ross Stores by 10.7% during the 3rd quarter. Flossbach Von Storch AG now owns 5,533,170 shares of the apparel retailer’s stock valued at $357,277,000 after purchasing an additional 532,900 shares during the period. Ameriprise Financial Inc. raised its position in shares of Ross Stores by 5.3% during the 2nd quarter. Ameriprise Financial Inc. now owns 5,424,201 shares of the apparel retailer’s stock valued at $313,116,000 after purchasing an additional 272,437 shares during the period. Finally, Bank of New York Mellon Corp raised its position in shares of Ross Stores by 1.7% during the 3rd quarter. Bank of New York Mellon Corp now owns 5,265,781 shares of the apparel retailer’s stock valued at $340,012,000 after purchasing an additional 85,983 shares during the period. Institutional investors and hedge funds own 90.93% of the company’s stock.

TRADEMARK VIOLATION WARNING: “Nomura Analysts Give Ross Stores (ROST) a $80.00 Price Target” was originally posted by StockNewsTimes and is the property of of StockNewsTimes. If you are reading this story on another domain, it was illegally copied and republished in violation of international copyright and trademark laws. The legal version of this story can be viewed at https://stocknewstimes.com/2017/12/06/ross-stores-inc-rost-given-a-80-00-price-target-by-nomura-analysts.html.

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)

Receive News & Ratings for Ross Stores Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ross Stores Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply