Ross Stores (ROST) Rating Increased to Buy at BidaskClub

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.

Ross Stores (NASDAQ:ROST) last issued its earnings results on Thursday, November 16th. The apparel retailer reported $0.72 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.67 by $0.05. The business had revenue of $3.33 billion for the quarter, compared to analyst estimates of $3.26 billion. Ross Stores had a net margin of 8.24% and a return on equity of 38.64%. Ross Stores’s revenue was up 7.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.62 earnings per share. equities analysts anticipate that Ross Stores will post 3.29 EPS for the current year.

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.

Analyst Recommendations for Ross Stores (NASDAQ:ROST)

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