Ross Stores (NASDAQ:ROST) was upgraded by analysts at BidaskClub from a “hold” rating to a “buy” rating in a report issued on Wednesday.
Several other research analysts have also issued reports on the stock. Nomura reissued a “buy” rating and set a $90.00 target price (up from $80.00) on shares of Ross Stores in a research note on Wednesday, January 17th. Cowen set a $78.00 target price on shares of Ross Stores and gave the stock a “buy” rating in a research note on Saturday, November 18th. Jefferies Group set a $66.00 target price on shares of Ross Stores and gave the stock a “hold” rating in a research note on Saturday, November 18th. Buckingham Research raised their price objective on shares of Ross Stores from $71.00 to $72.00 and gave the company a “neutral” rating in a research note on Friday, November 17th. Finally, BMO Capital Markets raised their price objective on shares of Ross Stores from $65.00 to $71.00 and gave the company a “market perform” rating in a research note on Friday, November 17th. Nine research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. Ross Stores presently has an average rating of “Buy” and an average target price of $74.19.
Shares of Ross Stores (NASDAQ ROST) traded up $1.07 during midday trading on Wednesday, reaching $85.46. 1,794,322 shares of the company traded hands, compared to its average volume of 2,200,000. The company has a market capitalization of $32,660.00, a price-to-earnings ratio of 27.30, a PEG ratio of 2.57 and a beta of 1.14. Ross Stores has a fifty-two week low of $52.85 and a fifty-two week high of $85.51. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.68 and a current ratio of 1.57.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Balentine LLC increased its holdings 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 buying an additional 5 shares during the last quarter. Cerebellum GP LLC purchased a new stake in Ross Stores during the fourth quarter worth about $132,000. Zions Bancorporation increased its holdings in Ross Stores by 338.9% during the third quarter. Zions Bancorporation now owns 2,120 shares of the apparel retailer’s stock worth $137,000 after buying an additional 1,637 shares during the last quarter. Sit Investment Associates Inc. increased its holdings in Ross Stores by 255.1% during the fourth quarter. Sit Investment Associates Inc. now owns 1,900 shares of the apparel retailer’s stock worth $152,000 after buying an additional 1,365 shares during the last quarter. Finally, Harvest Fund Management Co. Ltd purchased a new stake in Ross Stores during the fourth quarter worth about $159,000. 91.37% of the stock is currently owned by institutional investors.
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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.
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