Ross Stores’s Neutral Rating Reiterated at Citigroup Inc. (ROST)
Ross Stores (NASDAQ:ROST)‘s stock had its “neutral” rating restated by stock analysts at Citigroup Inc. in a report issued on Friday. They currently have a $82.00 price target on the stock, up from their previous price target of $77.00. Citigroup Inc.’s price objective would suggest a potential upside of 18.41% from the company’s current price.
A number of other analysts have also recently weighed in on ROST. Analysts at Sterne Agee raised their price target on shares of Ross Stores from $68.00 to $70.00 in a research note on Friday. Separately, 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. They now have a “hold” rating on the stock. Finally, 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 investment analyst has rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $77.59.
Shares of Ross Stores (NASDAQ:ROST) traded up 6.92% during mid-day trading on Friday, hitting $74.04. 4,012,346 shares of the company’s stock traded hands. 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 $15.666 billion and a P/E ratio of 17.51. Ross Stores also was the recipient of some unusual options trading on Tuesday. Stock investors bought 9,493 call options on the company. This represents an increase of approximately 873% compared to the average volume of 976 call options.
Ross Stores (NASDAQ:ROST) last issued its quarterly 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 $4.23 EPS for the current fiscal year.
The company also recently announced 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.
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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