Ross Stores, Inc. (NASDAQ:ROST)‘s stock had its “neutral” rating restated by J P Morgan Chase & Co in a report released on Sunday. They currently have a $65.00 target price on the apparel retailer’s stock, down from their previous target price of $68.00. J P Morgan Chase & Co’s target price would indicate a potential upside of 10.13% from the company’s previous close.

A number of other research analysts have also recently weighed in on ROST. BMO Capital Markets set a $65.00 target price on shares of Ross Stores and gave the company a “hold” rating in a research note on Tuesday, August 8th. MKM Partners boosted their target price on shares of Ross Stores from $77.00 to $78.00 and gave the company a “buy” rating in a research note on Friday. Cowen and Company reiterated an “outperform” rating and issued a $55.00 target price on shares of Ross Stores in a research note on Friday. Wolfe Research dropped their target price on shares of Ross Stores from $76.00 to $73.00 and set an “outperform” rating on the stock in a research note on Friday. Finally, Zacks Investment Research cut shares of Ross Stores from a “buy” rating to a “hold” rating in a research note on Tuesday, August 8th. 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’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $69.11.

Shares of Ross Stores (NASDAQ ROST) traded up 10.67% during trading on Friday, reaching $59.02. 14,140,321 shares of the company were exchanged. Ross Stores has a 52-week low of $52.85 and a 52-week high of $69.81. The firm has a market cap 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 is $55.18 and its 200-day moving average is $62.10.

Ross Stores (NASDAQ:ROST) last released its quarterly earnings results on Thursday, August 17th. The apparel retailer reported $0.82 earnings per share for the quarter, topping the consensus estimate of $0.77 by $0.05. Ross Stores had a net margin of 8.87% and a return on equity of 43.40%. The business had revenue of $3.43 billion for the quarter, compared to analysts’ expectations of $3.37 billion. During the same period in the previous year, the company earned $0.71 earnings per share. The firm’s revenue for the quarter was up 7.9% compared to the same quarter last year. Equities research analysts predict that Ross Stores will post $3.17 earnings per share for the current fiscal year.

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In other news, Director Sharon D. Garrett sold 16,130 shares of the company’s stock in a transaction on Friday, May 26th. The shares were sold at an average price of $63.23, for a total value of $1,019,899.90. Following the completion of the sale, the director now owns 4,967 shares of the company’s stock, valued at approximately $314,063.41. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 2.30% of the stock is currently owned by corporate insiders.

Several large investors have recently made changes to their positions in ROST. DnB Asset Management AS boosted its stake in shares of Ross Stores by 16.0% in the first quarter. DnB Asset Management AS now owns 48,580 shares of the apparel retailer’s stock worth $3,200,000 after buying an additional 6,700 shares during the period. Huntington National Bank boosted its stake in shares of Ross Stores by 1.0% in the first quarter. Huntington National Bank now owns 20,129 shares of the apparel retailer’s stock valued at $1,325,000 after buying an additional 197 shares during the last quarter. State of Alaska Department of Revenue boosted its stake in shares of Ross Stores by 68.6% in the first quarter. State of Alaska Department of Revenue now owns 5,519 shares of the apparel retailer’s stock valued at $362,000 after buying an additional 2,246 shares during the last quarter. Retirement Systems of Alabama boosted its stake in shares of Ross Stores by 1.4% in the first quarter. Retirement Systems of Alabama now owns 190,510 shares of the apparel retailer’s stock valued at $12,549,000 after buying an additional 2,542 shares during the last quarter. Finally, Nationwide Fund Advisors boosted its stake in shares of Ross Stores by 37.0% in the first quarter. Nationwide Fund Advisors now owns 676,207 shares of the apparel retailer’s stock valued at $44,542,000 after buying an additional 182,502 shares during the last quarter. 90.20% of the stock is owned by institutional investors.

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.

Analyst Recommendations for Ross Stores (NASDAQ:ROST)

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