Ross Stores, Inc. (ROST) Stock Rating Reaffirmed by Bank of America Corporation
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.
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.
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