Ross Stores, Inc. (ROST) Price Target Raised to $72.00 at Buckingham Research
Ross Stores, Inc. (NASDAQ:ROST) had its price target upped by equities research analysts at Buckingham Research from $71.00 to $72.00 in a research note issued to investors on Friday. The brokerage presently has a “neutral” rating on the apparel retailer’s stock. Buckingham Research’s price target would suggest a potential upside of 9.61% from the company’s previous close.
Several other brokerages have also issued reports on ROST. Telsey Advisory Group restated a “buy” rating on shares of Ross Stores in a research note on Friday. SunTrust Banks, Inc. set a $80.00 price target on shares of Ross Stores and gave the stock a “buy” rating in a research note on Friday. Royal Bank Of Canada restated a “sector perform” rating and set a $70.00 price target (up previously from $62.00) on shares of Ross Stores in a research note on Friday. Morgan Stanley lifted their price objective on shares of Ross Stores from $70.00 to $77.00 and gave the company an “overweight” rating in a research note on Friday. Finally, Nomura lifted their price objective on shares of Ross Stores from $74.00 to $80.00 and gave the company a “buy” rating in a research note on Friday. One analyst has rated the stock with a sell rating, nine have given a hold rating and fifteen have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $72.48.
Shares of Ross Stores (NASDAQ ROST) traded up $1.08 during mid-day trading on Friday, hitting $65.69. 4,665,700 shares of the stock traded hands, compared to its average volume of 2,934,564. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.76 and a current ratio of 1.64. Ross Stores has a 12 month low of $52.85 and a 12 month high of $69.81. The stock has a market cap of $27,860.00, a price-to-earnings ratio of 21.32, a P/E/G ratio of 2.00 and a beta of 1.09.
Ross Stores (NASDAQ:ROST) last issued its quarterly earnings results on Thursday, November 16th. The apparel retailer reported $0.72 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.67 by $0.05. Ross Stores had a net margin of 8.87% and a return on equity of 42.95%. The company had revenue of $3.33 billion during the quarter, compared to analyst estimates of $3.26 billion. During the same quarter last year, the business posted $0.62 EPS. Ross Stores’s quarterly revenue was up 7.8% compared to the same quarter last year. equities research analysts anticipate that Ross Stores will post 3.22 earnings per share for the current fiscal year.
In other Ross Stores news, insider Brian R. Morrow sold 6,157 shares of the company’s stock in a transaction dated Wednesday, October 4th. The shares were sold at an average price of $65.30, for a total value of $402,052.10. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Barbara Rentler sold 15,492 shares of the company’s stock in a transaction dated Tuesday, September 12th. The stock was 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. 2.30% of the stock is currently owned by corporate insiders.
Several hedge funds and other institutional investors have recently modified their holdings of ROST. Fox Run Management L.L.C. bought a new position in shares of Ross Stores in the second quarter worth approximately $202,000. Oregon Public Employees Retirement Fund lifted its position in Ross Stores by 5.2% during the second quarter. Oregon Public Employees Retirement Fund now owns 111,731 shares of the apparel retailer’s stock valued at $6,450,000 after purchasing an additional 5,500 shares during the period. LS Investment Advisors LLC lifted its position in Ross Stores by 8.7% during the second quarter. LS Investment Advisors LLC now owns 11,237 shares of the apparel retailer’s stock valued at $649,000 after purchasing an additional 897 shares during the period. Louisiana State Employees Retirement System lifted its position in Ross Stores by 0.4% during the second quarter. Louisiana State Employees Retirement System now owns 24,300 shares of the apparel retailer’s stock valued at $1,403,000 after purchasing an additional 100 shares during the period. Finally, Alpha Windward LLC lifted its position in Ross Stores by 45.1% during the second quarter. Alpha Windward LLC now owns 4,314 shares of the apparel retailer’s stock valued at $249,000 after purchasing an additional 1,340 shares during the period. Hedge funds and other institutional investors own 90.51% 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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