Ross Stores, Inc. (ROST) Rating Reiterated by Jefferies Group LLC
Ross Stores, Inc. (NASDAQ:ROST)‘s stock had its “hold” rating reissued by Jefferies Group LLC in a research note issued on Tuesday. They presently have a $63.00 price target on the apparel retailer’s stock. Jefferies Group LLC’s price target would indicate a potential upside of 2.57% from the company’s previous close.
Other analysts also recently issued research reports about the stock. BMO Capital Markets set a $65.00 price target on shares of Ross Stores and gave the stock a “hold” rating in a report on Friday, May 19th. Zacks Investment Research downgraded shares of Ross Stores from a “buy” rating to a “hold” rating in a report on Tuesday, August 8th. Wolfe Research cut their price target on shares of Ross Stores from $76.00 to $73.00 and set an “outperform” rating for the company in a report on Friday, August 18th. Royal Bank Of Canada set a $70.00 price target on shares of Ross Stores and gave the stock a “hold” rating in a report on Monday, May 15th. Finally, Telsey Advisory Group cut their price target on shares of Ross Stores from $77.00 to $70.00 and set a “market perform” rating for the company in a report on Friday, May 19th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and thirteen have assigned a buy rating to the company. Ross Stores has an average rating of “Buy” and an average price target of $69.84.
Ross Stores (NASDAQ ROST) opened at 61.41 on Tuesday. The firm’s 50 day moving average price is $56.87 and its 200 day moving average price is $61.01. The stock has a market cap of $23.52 billion, a price-to-earnings ratio of 20.28 and a beta of 1.09. Ross Stores has a 12 month low of $52.85 and a 12 month high of $69.81.
Ross Stores (NASDAQ:ROST) last announced its quarterly earnings results on Thursday, August 17th. The apparel retailer reported $0.82 earnings per share (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 8.87% and a return on equity of 42.95%. The business’s revenue was up 7.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.71 EPS. On average, equities research analysts predict that Ross Stores will post $3.23 EPS for the current fiscal year.
In other Ross Stores news, CEO Barbara Rentler sold 15,492 shares of the firm’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 value of $945,012.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 2.30% of the company’s stock.
A number of hedge funds have recently modified their holdings of the business. Intl Fcstone Inc. purchased a new stake in shares of Ross Stores during the 2nd quarter worth $1,225,000. Gs Investments Inc. purchased a new stake in shares of Ross Stores during the 2nd quarter worth $1,819,000. Toronto Dominion Bank lifted its position in shares of Ross Stores by 24.1% during the 2nd quarter. Toronto Dominion Bank now owns 135,821 shares of the apparel retailer’s stock worth $7,840,000 after purchasing an additional 26,412 shares during the last quarter. Archford Capital Strategies LLC lifted its position in shares of Ross Stores by 220.4% during the 2nd quarter. Archford Capital Strategies LLC now owns 26,580 shares of the apparel retailer’s stock worth $222,000 after purchasing an additional 18,285 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd lifted its position in shares of Ross Stores by 229.1% during the 2nd quarter. Dynamic Technology Lab Private Ltd now owns 24,053 shares of the apparel retailer’s stock worth $1,389,000 after purchasing an additional 16,744 shares during the last quarter. 89.62% of the stock is owned by institutional investors.
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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