Ross Stores, Inc. (NASDAQ:ROST)‘s stock had its “neutral” rating reaffirmed by equities researchers at Credit Suisse Group in a research report issued on Wednesday, August 2nd, MarketBeat Ratings reports. They currently have a $64.00 price objective on the apparel retailer’s stock, down from their previous price objective of $70.00. Credit Suisse Group’s price target would suggest a potential upside of 15.19% from the company’s current price.
Several other analysts have also commented on the stock. BidaskClub lowered shares of Ross Stores from a “sell” rating to a “strong sell” rating in a research report on Saturday, June 17th. Royal Bank Of Canada set a $67.00 price objective on shares of Ross Stores and gave the stock a “hold” rating in a research report on Monday, June 19th. Zacks Investment Research raised shares of Ross Stores from a “hold” rating to a “buy” rating and set a $61.00 price objective on the stock in a research report on Wednesday, July 12th. Morgan Stanley reaffirmed an “overweight” rating and issued a $69.00 price objective on shares of Ross Stores in a research report on Monday, May 22nd. Finally, BMO Capital Markets set a $65.00 price target on shares of Ross Stores and gave the company a “hold” rating in a research report on Thursday, July 6th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and fourteen have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $69.41.
Shares of Ross Stores (ROST) opened at 55.56 on Wednesday. The stock has a 50 day moving average price of $55.47 and a 200-day moving average price of $62.49. Ross Stores has a 12-month low of $52.91 and a 12-month high of $69.81. The stock has a market cap of $21.62 billion, a price-to-earnings ratio of 19.03 and a beta of 1.10.
Ross Stores (NASDAQ:ROST) last released its quarterly earnings results on Thursday, May 18th. The apparel retailer reported $0.82 earnings per share for the quarter, beating analysts’ consensus estimates of $0.80 by $0.02. The company had revenue of $3.31 billion for the quarter, compared to analyst estimates of $3.27 billion. Ross Stores had a net margin of 8.77% and a return on equity of 42.56%. The firm’s revenue was up 7.0% on a year-over-year basis. During the same period last year, the firm earned $0.73 earnings per share. Equities analysts anticipate that Ross Stores will post $3.16 EPS for the current fiscal year.
In other Ross Stores news, Director Sharon D. Garrett sold 16,130 shares of the company’s stock in a transaction on Friday, May 26th. The shares were sold at an average price of $63.23, for a total value of $1,019,899.90. Following the completion of the transaction, the director now directly owns 4,967 shares in the company, valued at approximately $314,063.41. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.30% of the stock is currently owned by corporate insiders.
Several hedge funds have recently added to or reduced their stakes in ROST. Retirement Systems of Alabama increased its stake in Ross Stores by 1.4% in the first quarter. Retirement Systems of Alabama now owns 190,510 shares of the apparel retailer’s stock worth $12,549,000 after buying an additional 2,542 shares in the last quarter. Mechanics Bank Trust Department increased its stake in Ross Stores by 0.5% in the second quarter. Mechanics Bank Trust Department now owns 65,450 shares of the apparel retailer’s stock worth $3,778,000 after buying an additional 315 shares in the last quarter. Alpha Windward LLC increased its stake in Ross Stores by 0.8% in the first quarter. Alpha Windward LLC now owns 2,974 shares of the apparel retailer’s stock worth $196,000 after buying an additional 23 shares in the last quarter. Clinton Group Inc. increased its stake in Ross Stores by 117.8% in the first quarter. Clinton Group Inc. now owns 148,624 shares of the apparel retailer’s stock worth $9,790,000 after buying an additional 80,388 shares in the last quarter. Finally, Azimuth Capital Management LLC increased its stake in Ross Stores by 3.8% in the first quarter. Azimuth Capital Management LLC now owns 146,935 shares of the apparel retailer’s stock worth $9,679,000 after buying an additional 5,350 shares in the last quarter. 91.37% of the stock is currently owned by hedge funds and other institutional investors.
About Ross Stores
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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