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Analysts at Sterne Agee upped their target price on shares of Ross Stores (NASDAQ:ROST) from $68.00 to $70.00 in a research report issued to clients and investors on Friday. Sterne Agee’s price objective suggests a potential upside of 1.08% from the stock’s previous close.

Shares of Ross Stores (NASDAQ:ROST) opened at 69.25 on Friday. Ross Stores has a 1-year low of $61.83 and a 1-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 P/E ratio of 17.66. Ross Stores also saw unusually large options trading on Tuesday. Investors purchased 9,493 call options on the stock. This represents an increase of 873% compared to the average 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. On average, analysts predict that Ross Stores will post $4.21 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which is scheduled for Tuesday, September 30th. Shareholders 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.

Other equities research analysts have also recently issued reports about the stock. Analysts at Canaccord Genuity raised their price target on shares of Ross Stores from $66.00 to $68.00 in a research note on Friday. 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. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target 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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