Ross Stores, Inc. (ROST) Given a $62.00 Price Target at Royal Bank Of Canada

Ross Stores, Inc. (NASDAQ:ROST) received a $62.00 target price from Royal Bank Of Canada in a research report issued to clients and investors on Monday. The firm presently has a “hold” rating on the apparel retailer’s stock. Royal Bank Of Canada’s price target indicates a potential downside of 2.24% from the stock’s current price.

Several other equities research analysts have also recently weighed in on the stock. Buckingham Research reaffirmed a “neutral” rating and issued a $71.00 price target on shares of Ross Stores in a research report on Thursday, October 19th. Bank of America Corporation reaffirmed a “buy” rating and issued a $80.00 price target on shares of Ross Stores in a research report on Monday, September 25th. Zacks Investment Research cut shares of Ross Stores from a “buy” rating to a “hold” rating in a research report on Monday, September 25th. J P Morgan Chase & Co raised shares of Ross Stores from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $65.00 to $74.00 in a research report on Monday, September 25th. Finally, Sanford C. Bernstein began coverage on shares of Ross Stores in a research report on Tuesday, September 12th. They issued an “outperform” rating and a $74.00 price target for the company. One analyst has rated the stock with a sell rating, nine have issued a hold rating and thirteen have issued a buy rating to the stock. Ross Stores currently has a consensus rating of “Buy” and a consensus price target of $70.21.

Ross Stores (NASDAQ ROST) opened at 63.42 on Monday. The company has a 50-day moving average of $63.24 and a 200-day moving average of $60.38. Ross Stores has a 1-year low of $52.85 and a 1-year high of $69.81. The company has a market capitalization of $24.45 billion, a P/E ratio of 20.94 and a beta of 1.13.

Ross Stores (NASDAQ:ROST) last announced its quarterly earnings results on Thursday, August 17th. The apparel retailer reported $0.82 earnings per share for the quarter, topping the consensus estimate of $0.77 by $0.05. Ross Stores had a net margin of 8.87% and a return on equity of 42.95%. The firm had revenue of $3.43 billion during the quarter, compared to analysts’ expectations of $3.37 billion. During the same quarter in the prior year, the company earned $0.71 EPS. The company’s revenue was up 7.9% compared to the same quarter last year. Equities analysts expect that Ross Stores will post $3.23 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 company’s stock in a transaction that occurred on Wednesday, October 4th. The shares were sold at an average price of $65.30, for a total transaction of $402,052.10. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 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 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 have recently modified their holdings of the business. Balentine LLC increased its stake in Ross Stores by 0.3% during the 2nd quarter. Balentine LLC now owns 1,775 shares of the apparel retailer’s stock valued at $102,000 after purchasing an additional 5 shares in the last quarter. Parkside Financial Bank & Trust increased its stake in Ross Stores by 3.4% during the 2nd 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 in the last quarter. Acrospire Investment Management LLC increased its stake in Ross Stores by 100.0% during the 2nd 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 in the last quarter. Welch Group LLC increased its stake in Ross Stores by 35.2% during the 2nd quarter. Welch Group LLC now owns 2,752 shares of the apparel retailer’s stock valued at $159,000 after purchasing an additional 716 shares in the last quarter. Finally, Sun Life Financial INC increased its stake in Ross Stores by 20,314.3% during the 2nd quarter. Sun Life Financial INC now owns 2,858 shares of the apparel retailer’s stock valued at $165,000 after purchasing an additional 2,844 shares in the last quarter. Institutional investors and hedge funds own 90.38% of the company’s stock.

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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