Ross Stores, Inc. (NASDAQ:ROST)‘s stock had its “buy” rating reiterated by investment analysts at Bank of America Corporation in a report issued on Monday. They currently have a $80.00 target price on the apparel retailer’s stock. Bank of America Corporation’s price objective indicates a potential upside of 31.38% from the company’s previous close.

Several other analysts also recently commented on ROST. BMO Capital Markets set a $65.00 price objective on shares of Ross Stores and gave the company a “hold” rating in a report on Tuesday, August 8th. J P Morgan Chase & Co raised shares of Ross Stores from a “neutral” rating to an “overweight” rating in a report on Monday. MKM Partners upped their price objective on shares of Ross Stores from $77.00 to $78.00 and gave the company a “buy” rating in a report on Friday, August 18th. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $62.00 price objective on shares of Ross Stores in a report on Monday, September 18th. Finally, Wolfe Research dropped their price objective on shares of Ross Stores from $76.00 to $73.00 and set an “outperform” rating on the stock in a report on Friday, August 18th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and fourteen have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $69.68.

Ross Stores (NASDAQ ROST) traded up 2.915% on Monday, reaching $62.665. 2,139,129 shares of the company’s stock traded hands. The stock has a market cap of $24.16 billion, a price-to-earnings ratio of 20.695 and a beta of 1.09. The stock has a 50 day moving average price of $57.77 and a 200 day moving average price of $60.76. Ross Stores has a 12-month low of $52.85 and a 12-month high of $69.81.

Ross Stores (NASDAQ:ROST) last released its 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. The company had revenue of $3.43 billion for the quarter, compared to the consensus estimate of $3.37 billion. Ross Stores had a net margin of 8.87% and a return on equity of 42.95%. Ross Stores’s revenue was up 7.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.71 EPS. Analysts forecast that Ross Stores will post $3.23 EPS for the current year.

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In other Ross Stores news, CEO Barbara Rentler sold 15,492 shares of the company’s stock in a transaction on Tuesday, September 12th. The shares were sold at an average price of $61.00, for a total transaction of $945,012.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 2.30% of the company’s stock.

A number of large investors have recently bought and sold shares of ROST. Guardian Life Insurance Co. of America raised its position in Ross Stores by 0.7% during the first quarter. Guardian Life Insurance Co. of America now owns 1,529 shares of the apparel retailer’s stock worth $101,000 after acquiring an additional 10 shares during the period. Balentine LLC raised its position in Ross Stores by 0.3% during the second quarter. Balentine LLC now owns 1,775 shares of the apparel retailer’s stock worth $102,000 after acquiring an additional 5 shares during the period. Parkside Financial Bank & Trust raised its position in Ross Stores by 3.4% during the second quarter. Parkside Financial Bank & Trust now owns 1,868 shares of the apparel retailer’s stock worth $108,000 after acquiring an additional 61 shares during the period. Parallel Advisors LLC raised its position in Ross Stores by 39.1% during the first quarter. Parallel Advisors LLC now owns 1,701 shares of the apparel retailer’s stock worth $111,000 after acquiring an additional 478 shares during the period. Finally, Acrospire Investment Management LLC raised its position in Ross Stores by 100.0% during the second quarter. Acrospire Investment Management LLC now owns 2,000 shares of the apparel retailer’s stock worth $115,000 after acquiring an additional 1,000 shares during the period. Institutional investors own 90.40% 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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