Buckingham Research Increases Ross Stores, Inc. (ROST) Price Target to $72.00

Ross Stores, Inc. (NASDAQ:ROST) had its target price lifted by analysts at Buckingham Research from $71.00 to $72.00 in a research report issued on Friday. The brokerage currently has a “neutral” rating on the apparel retailer’s stock. Buckingham Research’s price target suggests a potential downside of 0.35% from the company’s previous close.

A number of other equities analysts have also recently commented on ROST. BMO Capital Markets set a $65.00 price target on Ross Stores and gave the stock a “hold” rating in a report on Tuesday, August 8th. Morgan Stanley boosted their price target on Ross Stores from $70.00 to $77.00 and gave the stock an “overweight” rating in a report on Friday. Telsey Advisory Group boosted their price target on Ross Stores from $70.00 to $75.00 and gave the stock an “outperform” rating in a report on Friday. MKM Partners boosted their price target on Ross Stores from $77.00 to $78.00 and gave the stock a “buy” rating in a report on Friday, August 18th. Finally, SunTrust Banks, Inc. set a $80.00 price target on Ross Stores and gave the stock a “buy” rating in a report on Friday. One analyst has rated the stock with a sell rating, nine have given a hold rating and fifteen have assigned a buy rating to the stock. Ross Stores presently has an average rating of “Buy” and a consensus target price of $72.62.

Ross Stores (NASDAQ:ROST) traded up $6.56 during trading on Friday, hitting $72.25. The stock had a trading volume of 2,543,042 shares, compared to its average volume of 2,500,157. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.64 and a quick ratio of 0.76. Ross Stores has a 12 month low of $52.85 and a 12 month high of $73.94. The firm has a market cap of $27,859.02, a PE ratio of 23.08, a P/E/G ratio of 2.24 and a beta of 1.10.

Ross Stores (NASDAQ:ROST) last posted its quarterly earnings results on Thursday, November 16th. The apparel retailer reported $0.72 EPS for the quarter, topping analysts’ consensus estimates of $0.67 by $0.05. Ross Stores had a return on equity of 43.48% and a net margin of 8.93%. The company had revenue of $3.33 billion during the quarter, compared to analysts’ expectations of $3.26 billion. During the same quarter in the previous year, the firm earned $0.62 EPS. Ross Stores’s revenue was up 7.8% on a year-over-year basis. research analysts anticipate that Ross Stores will post 3.28 earnings per share for the current year.

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In related news, insider Brian R. Morrow sold 6,157 shares of the company’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 sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Barbara Rentler sold 15,492 shares of the company’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 disclosure for this sale can be found here. 2.30% of the stock is owned by corporate insiders.

Several institutional investors have recently made changes to their positions in ROST. Flossbach Von Storch AG boosted its position in shares of Ross Stores by 7,335.3% during the 2nd quarter. Flossbach Von Storch AG now owns 5,000,270 shares of the apparel retailer’s stock valued at $288,666,000 after purchasing an additional 4,933,020 shares in the last quarter. Janus Henderson Group PLC boosted its position in shares of Ross Stores by 3,501.6% during the 2nd quarter. Janus Henderson Group PLC now owns 1,942,654 shares of the apparel retailer’s stock valued at $112,149,000 after purchasing an additional 1,888,715 shares in the last quarter. Alliancebernstein L.P. boosted its position in shares of Ross Stores by 68.4% during the 2nd quarter. Alliancebernstein L.P. now owns 4,604,774 shares of the apparel retailer’s stock valued at $265,834,000 after purchasing an additional 1,870,314 shares in the last quarter. Nordea Investment Management AB boosted its position in shares of Ross Stores by 8,982.4% during the 3rd quarter. Nordea Investment Management AB now owns 1,617,840 shares of the apparel retailer’s stock valued at $104,464,000 after purchasing an additional 1,600,027 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its position in shares of Ross Stores by 393.0% during the 2nd quarter. Renaissance Technologies LLC now owns 1,573,128 shares of the apparel retailer’s stock valued at $90,817,000 after purchasing an additional 1,254,028 shares in the last quarter. Institutional investors own 90.51% 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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