UBS AG Cuts Ross Stores, Inc. (ROST) Price Target to $64.00
Ross Stores, Inc. (NASDAQ:ROST) had its price target decreased by research analysts at UBS AG from $70.00 to $64.00 in a research note issued to investors on Friday, 99wallstreet.com reports. The firm presently has a “neutral” rating on the apparel retailer’s stock. UBS AG’s price objective would suggest a potential upside of 20.01% from the company’s current price.
A number of other research analysts also recently issued reports on the stock. Credit Suisse Group set a $66.00 target price on shares of Ross Stores and gave the company a “hold” rating in a research report on Friday. BMO Capital Markets set a $65.00 price target on Ross Stores and gave the company a “hold” rating in a research note on Tuesday, August 8th. Zacks Investment Research cut Ross Stores from a “buy” rating to a “hold” rating in a research note on Tuesday, August 8th. BidaskClub raised Ross Stores from a “strong sell” rating to a “sell” rating in a research note on Monday, July 31st. Finally, Telsey Advisory Group raised Ross Stores from a “market perform” rating to an “outperform” rating and set a $70.00 price target for the company in a research note on Friday, July 14th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and fourteen have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $69.45.
Ross Stores (NASDAQ ROST) traded up 9.41% during trading on Friday, reaching $58.35. 7,938,432 shares of the company’s stock traded hands. The company has a market capitalization of $22.71 billion, a price-to-earnings ratio of 19.99 and a beta of 1.10. The firm’s 50 day moving average is $55.13 and its 200-day moving average is $62.15. Ross Stores has a 12 month low of $52.85 and a 12 month high of $69.81. Ross Stores also saw some unusual options trading activity on Tuesday. Stock traders purchased 12,143 call options on the company. This represents an increase of 1,039% compared to the typical daily volume of 1,066 call options.
Ross Stores (NASDAQ:ROST) last released its earnings results on Thursday, August 17th. The apparel retailer reported $0.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $3.37 billion. During the same period in the prior year, the company posted $0.71 EPS. The company’s revenue was up 7.9% compared to the same quarter last year. Analysts expect that Ross Stores will post $3.16 EPS for the current fiscal year.
In related news, Director Sharon D. Garrett sold 16,130 shares of the firm’s stock in a transaction on Friday, May 26th. The stock was sold at an average price of $63.23, for a total value 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 document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.30% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Guardian Life Insurance Co. of America boosted its position in shares of Ross Stores by 0.7% in the first quarter. Guardian Life Insurance Co. of America now owns 1,529 shares of the apparel retailer’s stock worth $101,000 after buying an additional 10 shares during the last quarter. Balentine LLC boosted its position in shares of Ross Stores by 0.3% in the second quarter. Balentine LLC now owns 1,775 shares of the apparel retailer’s stock worth $102,000 after buying an additional 5 shares during the last quarter. TrimTabs Asset Management LLC boosted its position in shares of Ross Stores by 89.2% in the first quarter. TrimTabs Asset Management LLC now owns 1,646 shares of the apparel retailer’s stock worth $108,000 after buying an additional 776 shares during the last quarter. Parkside Financial Bank & Trust boosted its position in shares of Ross Stores by 3.4% in the second quarter. Parkside Financial Bank & Trust now owns 1,868 shares of the apparel retailer’s stock worth $108,000 after buying an additional 61 shares during the last quarter. Finally, Parallel Advisors LLC boosted its position in shares of Ross Stores by 39.1% in the first quarter. Parallel Advisors LLC now owns 1,701 shares of the apparel retailer’s stock worth $111,000 after buying an additional 478 shares during the last quarter. 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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