Ross Stores’ (ROST) Buy Rating Reiterated at Instinet
Ross Stores, Inc. (NASDAQ:ROST)‘s stock had its “buy” rating restated by stock analysts at Instinet in a note issued to investors on Sunday. They presently have a $74.00 target price on the apparel retailer’s stock. Instinet’s price objective suggests a potential upside of 25.38% from the stock’s current price.
Other equities analysts also recently issued research reports about the stock. Zacks Investment Research raised shares of Ross Stores from a “hold” rating to a “buy” rating and set a $61.00 target price on the stock in a report on Wednesday, July 12th. MKM Partners boosted their target price on shares of Ross Stores from $77.00 to $78.00 and gave the stock a “buy” rating in a report on Friday. 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. Finally, Jefferies Group LLC reissued a “hold” rating and issued a $63.00 target price on shares of Ross Stores in a report on Tuesday, May 16th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and thirteen have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $69.11.
Ross Stores (NASDAQ ROST) traded up 10.67% during mid-day trading on Friday, hitting $59.02. 14,140,321 shares of the stock traded hands. Ross Stores has a 12 month low of $52.85 and a 12 month high of $69.81. The company’s 50 day moving average is $55.18 and its 200 day moving average is $62.10. The company has a market cap of $22.61 billion, a P/E ratio of 19.49 and a beta of 1.10.
Ross Stores (NASDAQ:ROST) last released its earnings results on Thursday, August 17th. The apparel retailer reported $0.82 EPS 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 43.40%. The firm had revenue of $3.43 billion for the quarter, compared to the consensus estimate of $3.37 billion. During the same quarter in the previous year, the firm earned $0.71 earnings per share. The company’s quarterly revenue was up 7.9% compared to the same quarter last year. On average, analysts expect that Ross Stores will post $3.17 earnings per share for the current fiscal year.
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In other news, Director Sharon D. Garrett sold 16,130 shares of the company’s stock in a transaction dated 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 transaction, the director now directly owns 4,967 shares in the company, valued at $314,063.41. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 2.30% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in Ross Stores by 1.9% in the second quarter. Vanguard Group Inc. now owns 36,146,781 shares of the apparel retailer’s stock worth $2,086,753,000 after buying an additional 686,186 shares during the last quarter. BlackRock Inc. boosted its position in Ross Stores by 1,908.5% in the first quarter. BlackRock Inc. now owns 26,454,293 shares of the apparel retailer’s stock worth $1,742,545,000 after buying an additional 25,137,186 shares during the last quarter. State Street Corp boosted its position in Ross Stores by 1.0% in the first quarter. State Street Corp now owns 17,886,365 shares of the apparel retailer’s stock worth $1,178,183,000 after buying an additional 173,336 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its position in Ross Stores by 1.6% in the first quarter. Massachusetts Financial Services Co. MA now owns 9,295,824 shares of the apparel retailer’s stock worth $612,317,000 after buying an additional 146,423 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its position in Ross Stores by 5.3% in the second quarter. Principal Financial Group Inc. now owns 6,482,963 shares of the apparel retailer’s stock worth $374,261,000 after buying an additional 327,310 shares during the last quarter. Hedge funds and other institutional investors own 90.20% of the company’s stock.
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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