Credit Suisse Group Reiterates “Neutral” Rating for Ross Stores, Inc. (NASDAQ:ROST)
Ross Stores, Inc. (NASDAQ:ROST)‘s stock had its “neutral” rating restated by equities researchers at Credit Suisse Group in a research note issued on Tuesday. They currently have a $64.00 price objective on the apparel retailer’s stock, down from their previous price objective of $70.00. Credit Suisse Group’s price objective would suggest a potential upside of 14.45% from the company’s previous close.
ROST has been the topic of a number of other research reports. BidaskClub lowered shares of Ross Stores from a “sell” rating to a “strong sell” rating in a research report on Saturday, June 17th. Zacks Investment Research upgraded shares of Ross Stores from a “sell” rating to a “hold” rating in a research report on Tuesday, May 16th. Morgan Stanley restated an “overweight” rating and issued a $69.00 target price on shares of Ross Stores in a research report on Monday, May 22nd. Telsey Advisory Group upgraded shares of Ross Stores from a “market perform” rating to an “outperform” rating and set a $70.00 target price on the stock in a research report on Friday, July 14th. They noted that the move was a valuation call. Finally, Royal Bank Of Canada restated a “sector perform” rating and issued a $67.00 target price (down previously from $70.00) on shares of Ross Stores in a research report on Friday, May 19th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and fourteen have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $69.41.
Ross Stores (NASDAQ ROST) traded up 0.94% on Tuesday, reaching $55.92. 3,085,485 shares of the company traded hands. The company has a market capitalization of $21.76 billion, a PE ratio of 19.16 and a beta of 1.10. Ross Stores has a 52-week low of $52.91 and a 52-week high of $69.81. The stock has a 50-day moving average of $56.36 and a 200 day moving average of $63.03.
Ross Stores (NASDAQ:ROST) last issued its earnings results on Thursday, May 18th. The apparel retailer reported $0.82 earnings per share for the quarter, beating analysts’ consensus estimates of $0.80 by $0.02. Ross Stores had a net margin of 8.77% and a return on equity of 42.56%. The firm had revenue of $3.31 billion for the quarter, compared to analyst estimates of $3.27 billion. During the same quarter last year, the business posted $0.73 earnings per share. The company’s quarterly revenue was up 7.0% on a year-over-year basis. On average, equities analysts forecast that Ross Stores will post $3.16 EPS for the current year.
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In other Ross Stores news, Director Sharon D. Garrett sold 16,130 shares of Ross Stores stock in a transaction on Friday, May 26th. The shares were sold at an average price of $63.23, for a total value of $1,019,899.90. Following the completion of the sale, the director now directly owns 4,967 shares of the company’s stock, valued at $314,063.41. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 2.30% of the stock is owned by company insiders.
Large investors have recently bought and sold shares of the stock. Scout Investments Inc. increased its stake in Ross Stores by 146.6% in the second quarter. Scout Investments Inc. now owns 277,653 shares of the apparel retailer’s stock valued at $16,029,000 after buying an additional 165,053 shares during the period. Principal Financial Group Inc. increased its stake in Ross Stores by 5.3% in the second quarter. Principal Financial Group Inc. now owns 6,482,963 shares of the apparel retailer’s stock valued at $374,261,000 after buying an additional 327,310 shares during the period. Motco increased its stake in Ross Stores by 2.9% in the second quarter. Motco now owns 80,418 shares of the apparel retailer’s stock valued at $4,643,000 after buying an additional 2,304 shares during the period. Mirador Capital Partners LP bought a new stake in Ross Stores during the second quarter valued at $230,000. Finally, OMERS ADMINISTRATION Corp bought a new stake in Ross Stores during the second quarter valued at $2,090,000. 91.37% of the stock is owned by hedge funds and other institutional investors.
Ross Stores Company Profile
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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