Canaccord Genuity Boosts Ross Stores Price Target to $68.00 (ROST)
Canaccord Genuity hoisted their price target on shares of Ross Stores (NASDAQ:ROST) from $66.00 to $68.00 in a research note issued on Friday. Canaccord Genuity’s price objective indicates a potential downside of 1.81% from the stock’s previous close.
Shares of Ross Stores (NASDAQ:ROST) opened at 69.25 on Friday. Ross Stores has a 52-week low of $61.83 and a 52-week high of $81.99. The stock’s 50-day moving average is $65.32 and its 200-day moving average is $68.39. The company has a market cap of $14.653 billion and a price-to-earnings ratio of 17.66. Ross Stores also was the recipient of some unusual options trading on Tuesday. Stock traders acquired 9,493 call options on the stock. This is an increase of approximately 873% compared to the typical daily volume of 976 call options.
Ross Stores (NASDAQ:ROST) last released its earnings data on Thursday, August 21st. The company reported $1.14 EPS for the quarter, beating the Thomson Reuters consensus estimate of $1.08 by $0.06. The company had revenue of $2.73 billion for the quarter, compared to the consensus estimate of $2.71 billion. During the same quarter in the prior year, the company posted $0.98 earnings per share. The company’s quarterly revenue was up 7.0% on a year-over-year basis. Analysts expect that Ross Stores will post $4.21 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Tuesday, September 30th. Stockholders of record on Friday, September 5th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.16%. The ex-dividend date of this dividend is Wednesday, September 3rd.
ROST has been the subject of a number of other recent research reports. Analysts at ISI Group raised their price target on shares of Ross Stores from $75.00 to $85.00 in a research note on Friday. Analysts at Sterne Agee downgraded shares of Ross Stores from a “buy” rating to a “neutral” rating in a research note on Wednesday, July 16th. They now have a $68.00 price target on the stock, down previously from $81.00. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and seven have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $77.29.
Ross Stores, Inc is an off-price apparel and home fashion chain in the United States. The Company operates two brands of off-price retail apparel and home fashion stores: Ross Dress for Less (NASDAQ:ROST) and dd’s DISCOUNTS.
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