Ross Stores, Inc. (NASDAQ:ROST)‘s stock had its “buy” rating reissued by equities research analysts at Bank of America Corporation in a report issued on Sunday. They currently have a $80.00 price target on the apparel retailer’s stock. Bank of America Corporation’s target price suggests a potential upside of 35.55% from the company’s previous close.

A number of other brokerages have also recently issued reports on ROST. Zacks Investment Research cut shares of Ross Stores from a “hold” rating to a “sell” rating in a report on Tuesday, May 2nd. Royal Bank Of Canada set a $70.00 target price on shares of Ross Stores and gave the company a “hold” rating in a report on Monday, May 15th. Jefferies Group LLC reaffirmed a “hold” rating and issued a $63.00 target price on shares of Ross Stores in a report on Tuesday, May 16th. Morgan Stanley reaffirmed an “overweight” rating and issued a $69.00 target price on shares of Ross Stores in a report on Monday, May 22nd. Finally, William Blair reaffirmed an “outperform” rating on shares of Ross Stores in a report on Monday, May 22nd. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and thirteen have issued a buy rating to the company. Ross Stores currently has an average rating of “Buy” and an average target price of $69.11.

Shares of Ross Stores (NASDAQ:ROST) traded up 10.67% during mid-day trading on Friday, hitting $59.02. The stock had a trading volume of 14,140,321 shares. Ross Stores has a 12-month low of $52.85 and a 12-month high of $69.81. The stock has a market capitalization of $22.61 billion, a price-to-earnings ratio of 19.49 and a beta of 1.10. The stock’s 50-day moving average price is $55.18 and its 200-day moving average price is $62.10.

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 Zacks’ consensus estimate of $0.77 by $0.05. The company had revenue of $3.43 billion for the quarter, compared to analysts’ expectations of $3.37 billion. Ross Stores had a net margin of 8.87% and a return on equity of 43.40%. Ross Stores’s quarterly revenue was up 7.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.71 EPS. On average, equities analysts anticipate that Ross Stores will post $3.17 EPS for the current fiscal year.

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In related news, Director Sharon D. Garrett sold 16,130 shares of the stock in a transaction that occurred on 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 sale, the director now owns 4,967 shares in the company, valued at approximately $314,063.41. The transaction 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.

Hedge funds have recently modified their holdings of the stock. Guardian Life Insurance Co. of America raised its stake 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 in the last quarter. Balentine LLC raised its stake 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 in the last quarter. TrimTabs Asset Management LLC raised its stake 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 in the last quarter. Parkside Financial Bank & Trust raised its stake 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 in the last quarter. Finally, Parallel Advisors LLC raised its stake 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 in the last quarter. Hedge funds and other 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.

Analyst Recommendations for Ross Stores (NASDAQ:ROST)

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