Ross Stores, Inc. (ROST) Receives Average Rating of “Buy” from Analysts
Ross Stores, Inc. (NASDAQ:ROST) has been given an average recommendation of “Buy” by the twenty-three research firms that are covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, nine have issued a hold recommendation and thirteen have given a buy recommendation to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $70.33.
A number of research analysts have weighed in on the company. Royal Bank Of Canada reissued a “hold” rating and set a $62.00 price target on shares of Ross Stores in a research note on Monday, September 18th. Wolfe Research reduced their price target on Ross Stores from $76.00 to $73.00 and set an “outperform” rating on the stock in a research note on Friday, August 18th. Zacks Investment Research lowered Ross Stores from a “buy” rating to a “hold” rating in a research note on Tuesday, August 8th. BMO Capital Markets set a $65.00 price target on Ross Stores and gave the stock a “hold” rating in a research note on Tuesday, August 8th. Finally, Bank of America Corporation reissued a “buy” rating and set a $80.00 price target on shares of Ross Stores in a research note on Sunday, August 20th.
In other Ross Stores news, CEO Barbara Rentler sold 15,492 shares of the firm’s stock in a transaction dated Tuesday, September 12th. The shares were sold at an average price of $61.00, for a total value of $945,012.00. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Brian R. Morrow sold 6,157 shares of the firm’s stock in a transaction dated Wednesday, October 4th. The stock was sold at an average price of $65.30, for a total transaction of $402,052.10. The disclosure for this sale can be found here. Company insiders own 2.30% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. FineMark National Bank & Trust lifted its holdings in Ross Stores by 17.0% in the third quarter. FineMark National Bank & Trust now owns 10,195 shares of the apparel retailer’s stock worth $658,000 after acquiring an additional 1,482 shares during the last quarter. IFP Advisors Inc lifted its holdings in Ross Stores by 80.0% in the third quarter. IFP Advisors Inc now owns 9,573 shares of the apparel retailer’s stock worth $618,000 after acquiring an additional 4,256 shares during the last quarter. BP PLC bought a new position in Ross Stores in the third quarter worth about $2,905,000. Hallmark Capital Management Inc. lifted its holdings in Ross Stores by 1.6% in the third quarter. Hallmark Capital Management Inc. now owns 239,877 shares of the apparel retailer’s stock worth $15,489,000 after acquiring an additional 3,677 shares during the last quarter. Finally, Westpac Banking Corp lifted its holdings in Ross Stores by 561.4% in the third quarter. Westpac Banking Corp now owns 175,646 shares of the apparel retailer’s stock worth $11,341,000 after acquiring an additional 149,090 shares during the last quarter. 90.38% of the stock is currently owned by hedge funds and other institutional investors.
Ross Stores (ROST) traded down 0.63% during midday trading on Wednesday, hitting $63.42. The company had a trading volume of 2,159,635 shares. The stock’s 50-day moving average price is $63.24 and its 200-day moving average price is $60.38. The stock has a market cap of $24.45 billion, a PE ratio of 20.94 and a beta of 1.13. Ross Stores has a 52-week low of $52.85 and a 52-week high of $69.81.
Ross Stores (NASDAQ:ROST) last posted its earnings results on Thursday, August 17th. The apparel retailer reported $0.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.77 by $0.05. Ross Stores had a return on equity of 42.95% and a net margin of 8.87%. The firm had revenue of $3.43 billion for the quarter, compared to analyst estimates of $3.37 billion. During the same quarter in the prior year, the company earned $0.71 EPS. Ross Stores’s revenue was up 7.9% on a year-over-year basis. On average, equities research analysts expect that Ross Stores will post $3.23 EPS for the current fiscal year.
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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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