Wolfe Research Lowers Ross Stores, Inc. (ROST) Price Target to $73.00
Ross Stores, Inc. (NASDAQ:ROST) had its price target decreased by research analysts at Wolfe Research from $76.00 to $73.00 in a research report issued on Friday. The brokerage currently has an “outperform” rating on the apparel retailer’s stock. Wolfe Research’s price target would indicate a potential upside of 36.88% from the company’s previous close.
Several other analysts have also recently issued reports on the company. UBS AG dropped their target price on Ross Stores from $70.00 to $64.00 and set a “neutral” rating for the company in a report on Friday. Credit Suisse Group set a $66.00 target price on Ross Stores and gave the company a “hold” rating in a report on Friday. BMO Capital Markets set a $65.00 target price on Ross Stores and gave the company a “hold” rating in a report on Tuesday, August 8th. Zacks Investment Research cut Ross Stores from a “buy” rating to a “hold” rating in a report on Tuesday, August 8th. Finally, BidaskClub upgraded Ross Stores from a “strong sell” rating to a “sell” rating in a report on Monday, July 31st. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and fifteen have given a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $69.61.
Ross Stores (ROST) traded up 10.5650% during midday trading on Friday, hitting $58.9643. 10,835,967 shares of the stock traded hands. The firm has a market cap of $22.95 billion, a PE ratio of 20.2002 and a beta of 1.10. Ross Stores has a 12 month low of $52.85 and a 12 month high of $69.81. The company’s 50 day moving average price is $55.13 and its 200 day moving average price is $62.15. Ross Stores also was the recipient of some unusual options trading on Tuesday. Traders bought 12,143 call options on the stock. This is an increase of 1,039% compared to the typical volume of 1,066 call options.
Ross Stores (NASDAQ:ROST) last issued its earnings results on Thursday, August 17th. The apparel retailer reported $0.82 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.77 by $0.05. The company had revenue of $3.43 billion during the quarter, compared to analysts’ expectations of $3.37 billion. Ross Stores had a return on equity of 42.56% and a net margin of 8.77%. The firm’s quarterly revenue was up 7.9% on a year-over-year basis. During the same period in the prior year, the business earned $0.71 EPS. Equities research analysts predict that Ross Stores will post $3.16 earnings per share for the current fiscal year.
In related news, Director Sharon D. Garrett sold 16,130 shares of the firm’s stock in a transaction dated Friday, May 26th. The stock was sold at an average price of $63.23, for a total transaction of $1,019,899.90. Following the completion of the transaction, the director now directly owns 4,967 shares in the company, valued at approximately $314,063.41. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 2.30% of the company’s stock.
Institutional investors have recently made changes to their positions in the stock. 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 period. 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 period. 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 period. 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 period. Finally, Evercore Wealth Management LLC raised its stake in Ross Stores by 29.1% in the second quarter. Evercore Wealth Management LLC now owns 1,929 shares of the apparel retailer’s stock worth $109,000 after buying an additional 435 shares in the last quarter. Institutional investors own 90.20% of the company’s stock.
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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