ISI Group Boosts Ross Stores Price Target to $85.00 (ROST)
Equities researchers at ISI Group upped their price target on shares of Ross Stores (NASDAQ:ROST) from $75.00 to $85.00 in a research report issued on Friday. ISI Group’s price objective suggests a potential upside of 22.74% from the stock’s previous close.
Separately, 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 research analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $77.29.
Shares of Ross Stores (NASDAQ:ROST) opened at 69.25 on Friday. Ross Stores has a one year low of $61.83 and a one year 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 target of unusually large options trading on Tuesday. Stock investors bought 9,493 call options on the stock. This represents an increase of approximately 873% compared to the average daily volume of 976 call options.
Ross Stores (NASDAQ:ROST) last issued its quarterly earnings data on Thursday, August 21st. The company reported $1.14 earnings per share for the quarter, beating the analysts’ 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 last year, the company posted $0.98 earnings per share. Ross Stores’s revenue was up 7.0% compared to the same quarter last year. 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. Investors 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.
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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