Ross Stores, Inc. (ROST) Price Target Lowered to $64.00 at UBS AG
Ross Stores, Inc. (NASDAQ:ROST) had its price target decreased by UBS AG from $70.00 to $64.00 in a note issued to investors on Friday, 99wallstreet.com reports. The firm presently has a “neutral” rating on the apparel retailer’s stock. UBS AG’s price target indicates a potential upside of 20.01% from the stock’s current price.
Other equities analysts also recently issued reports about the stock. Zacks Investment Research upgraded shares of Ross Stores from a “hold” rating to a “buy” rating and set a $61.00 target price for the company in a report on Wednesday, July 12th. BMO Capital Markets set a $65.00 target price on shares of Ross Stores and gave the stock a “hold” rating in a report on Thursday, July 6th. Royal Bank Of Canada set a $67.00 target price on shares of Ross Stores and gave the stock a “hold” rating in a report on Monday, June 19th. Jefferies Group LLC reiterated a “hold” rating and issued a $63.00 target price on shares of Ross Stores in a report on Tuesday, May 16th. Finally, Credit Suisse Group set a $66.00 target price on shares of Ross Stores and gave the stock a “hold” rating in a report on Friday. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and fourteen have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $69.45.
Shares of Ross Stores (NASDAQ:ROST) traded up 9.272% during mid-day trading on Friday, reaching $58.275. 7,915,413 shares of the company traded hands. Ross Stores has a 52 week low of $52.85 and a 52 week high of $69.81. The firm has a 50 day moving average of $55.13 and a 200-day moving average of $62.15. The stock has a market capitalization of $22.68 billion, a PE ratio of 19.964 and a beta of 1.10. Ross Stores also was the target of unusually large options trading activity on Tuesday. Investors bought 12,143 call options on the company. This represents an increase of 1,039% compared to the average daily volume of 1,066 call options.
Ross Stores (NASDAQ:ROST) last announced its earnings results on Thursday, August 17th. The apparel retailer reported $0.82 EPS for the quarter, topping the Zacks’ consensus estimate of $0.77 by $0.05. The business had revenue of $3.43 billion during the quarter, compared to the consensus estimate of $3.37 billion. Ross Stores had a net margin of 8.77% and a return on equity of 42.56%. The firm’s revenue was up 7.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.71 earnings per share. On average, equities research analysts expect that Ross Stores will post $3.16 EPS for the current fiscal year.
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In other Ross Stores news, Director Sharon D. Garrett sold 16,130 shares of the company’s stock in a transaction that occurred on Friday, May 26th. The stock was sold at an average price of $63.23, for a total value of $1,019,899.90. Following the sale, the director now owns 4,967 shares in the company, valued at approximately $314,063.41. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 2.30% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Balentine LLC increased 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 buying an additional 5 shares during the last quarter. Guardian Life Insurance Co. of America increased its position in shares of Ross Stores by 0.7% in the first quarter. Guardian Life Insurance Co. of America now owns 1,529 shares of the apparel retailer’s stock valued at $101,000 after buying an additional 10 shares during the last quarter. Alps Advisors Inc. increased its position in shares of Ross Stores by 0.3% in the second quarter. Alps Advisors Inc. now owns 7,118 shares of the apparel retailer’s stock valued at $411,000 after buying an additional 19 shares during the last quarter. First Heartland Consultants Inc. increased its position in shares of Ross Stores by 0.6% in the second quarter. First Heartland Consultants Inc. now owns 6,136 shares of the apparel retailer’s stock valued at $354,000 after buying an additional 34 shares during the last quarter. Finally, Cullen Frost Bankers Inc. increased its position in shares of Ross Stores by 0.8% in the first quarter. Cullen Frost Bankers Inc. now owns 5,141 shares of the apparel retailer’s stock valued at $339,000 after buying an additional 41 shares during the last quarter. 90.20% of the stock is owned by institutional investors and hedge funds.
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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