Ross Stores, Inc. (ROST) Earns Outperform Rating from Cowen and Company
Ross Stores, Inc. (NASDAQ:ROST)‘s stock had its “outperform” rating restated by Cowen and Company in a note issued to investors on Friday. They presently have a $55.00 target price on the apparel retailer’s stock. Cowen and Company’s target price indicates a potential downside of 6.81% from the stock’s previous close.
Several other equities research analysts have also issued reports on ROST. Zacks Investment Research lowered shares of Ross Stores from a “hold” rating to a “sell” rating in a research note on Tuesday, May 2nd. Royal Bank Of Canada set a $70.00 price target on shares of Ross Stores and gave the stock a “hold” rating in a research note on Monday, May 15th. Jefferies Group LLC restated a “hold” rating and set a $63.00 price target on shares of Ross Stores in a research note on Tuesday, May 16th. Telsey Advisory Group decreased their price target on shares of Ross Stores from $77.00 to $70.00 and set a “market perform” rating for the company in a research note on Friday, May 19th. Finally, BMO Capital Markets set a $65.00 price target on shares of Ross Stores and gave the stock a “hold” rating in a research note on Friday, May 19th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and fifteen have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $69.04.
Shares of Ross Stores (NASDAQ ROST) traded up 10.67% during trading on Friday, reaching $59.02. The company’s stock had a trading volume of 14,140,321 shares. The stock’s 50 day moving average price is $55.18 and its 200-day moving average price is $62.10. Ross Stores has a 12 month low of $52.85 and a 12 month high of $69.81. The firm has a market cap of $22.97 billion, a PE ratio of 20.22 and a beta of 1.10. Ross Stores also was the recipient of unusually large options trading activity on Tuesday. Traders bought 12,143 call options on the stock. This is an increase of approximately 1,039% compared to the average volume of 1,066 call options.
Ross Stores (NASDAQ:ROST) last issued its quarterly earnings results on Thursday, August 17th. The apparel retailer reported $0.82 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.77 by $0.05. Ross Stores had a net margin of 8.77% and a return on equity of 42.56%. The company had revenue of $3.43 billion during the quarter, compared to analyst estimates of $3.37 billion. During the same quarter last year, the business posted $0.71 EPS. Ross Stores’s quarterly revenue was up 7.9% compared to the same quarter last year. Equities analysts predict that Ross Stores will post $3.17 EPS for the current year.
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In related news, Director Sharon D. Garrett sold 16,130 shares of the business’s stock in a transaction dated Friday, May 26th. The shares were sold at an average price of $63.23, for a total transaction of $1,019,899.90. Following the transaction, the director now owns 4,967 shares in the company, valued at $314,063.41. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 2.30% of the stock is owned by insiders.
Institutional investors have recently made changes to their positions in the stock. Retirement Systems of Alabama boosted its stake in shares of Ross Stores by 1.4% in the first quarter. Retirement Systems of Alabama now owns 190,510 shares of the apparel retailer’s stock worth $12,549,000 after buying an additional 2,542 shares during the period. Mechanics Bank Trust Department boosted its stake in shares of Ross Stores by 0.5% in the second quarter. Mechanics Bank Trust Department now owns 65,450 shares of the apparel retailer’s stock worth $3,778,000 after buying an additional 315 shares during the period. Bedrijfstakpensioenfonds Voor DE Media PNO acquired a new stake in shares of Ross Stores during the second quarter worth $1,581,000. Meag Munich Ergo Kapitalanlagegesellschaft MBH acquired a new stake in shares of Ross Stores during the second quarter worth $968,000. Finally, Clinton Group Inc. boosted its stake in shares of Ross Stores by 117.8% in the first quarter. Clinton Group Inc. now owns 148,624 shares of the apparel retailer’s stock worth $9,790,000 after buying an additional 80,388 shares during the period. Institutional investors own 90.20% of the company’s stock.
About Ross Stores
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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