Ross Stores, Inc. (NASDAQ:ROST)‘s stock had its “buy” rating reaffirmed by stock analysts at Instinet in a research note issued on Sunday. They currently have a $74.00 price objective on the apparel retailer’s stock. Instinet’s price target points to a potential upside of 25.38% from the stock’s current price.

ROST has been the subject of a number of other reports. BidaskClub cut Ross Stores from a “sell” rating to a “strong sell” rating in a report on Saturday, June 17th. Zacks Investment Research upgraded Ross Stores from a “sell” rating to a “hold” rating in a report on Tuesday, May 16th. Morgan Stanley restated an “overweight” rating and set a $69.00 target price on shares of Ross Stores in a report on Monday, May 22nd. Telsey Advisory Group upgraded Ross Stores from a “market perform” rating to an “outperform” rating and set a $70.00 target price for the company in a report on Friday, July 14th. They noted that the move was a valuation call. Finally, Credit Suisse Group restated a “neutral” rating and set a $64.00 target price (down from $70.00) on shares of Ross Stores in a report on Wednesday, August 2nd. One analyst has rated the stock with a sell rating, ten have given a hold rating and thirteen have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $69.11.

Ross Stores (ROST) traded up 10.67% on Friday, reaching $59.02. 14,140,321 shares of the company’s stock were exchanged. The firm has a 50 day moving average price of $55.18 and a 200 day moving average price of $62.10. Ross Stores has a one year low of $52.85 and a one year high of $69.81. The firm has a market cap of $22.61 billion, a PE ratio of 19.49 and a beta of 1.10.

Ross Stores (NASDAQ:ROST) last announced its earnings results on Thursday, August 17th. The apparel retailer reported $0.82 EPS for the quarter, beating analysts’ consensus estimates of $0.77 by $0.05. Ross Stores had a return on equity of 43.40% and a net margin of 8.87%. The company had revenue of $3.43 billion during the quarter, compared to analysts’ expectations of $3.37 billion. During the same period last year, the business posted $0.71 EPS. Ross Stores’s revenue for the quarter was up 7.9% on a year-over-year basis. On average, equities analysts anticipate that Ross Stores will post $3.17 earnings per share for the current year.

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In other Ross Stores news, Director Sharon D. Garrett sold 16,130 shares of Ross Stores stock in a transaction that occurred on 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 transaction, the director now owns 4,967 shares of the company’s stock, valued at $314,063.41. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders own 2.30% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. IFP Advisors Inc raised its position in Ross Stores by 2.2% in the first quarter. IFP Advisors Inc now owns 7,331 shares of the apparel retailer’s stock valued at $483,000 after buying an additional 161 shares during the period. Nikko Asset Management Americas Inc. purchased a new position in Ross Stores during the first quarter valued at approximately $112,000. Shell Asset Management Co. raised its position in Ross Stores by 2.2% in the first quarter. Shell Asset Management Co. now owns 62,268 shares of the apparel retailer’s stock valued at $4,102,000 after buying an additional 1,364 shares during the period. North Point Portfolio Managers Corp OH raised its position in Ross Stores by 1.2% in the first quarter. North Point Portfolio Managers Corp OH now owns 224,608 shares of the apparel retailer’s stock valued at $14,795,000 after buying an additional 2,645 shares during the period. Finally, First Mercantile Trust Co. raised its position in Ross Stores by 4.0% in the first quarter. First Mercantile Trust Co. now owns 11,230 shares of the apparel retailer’s stock valued at $740,000 after buying an additional 435 shares during the period. 90.20% of the stock is currently owned by institutional investors.

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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