BMO Capital Markets Increases Ross Stores, Inc. (ROST) Price Target to $71.00
Ross Stores, Inc. (NASDAQ:ROST) had its price target lifted by analysts at BMO Capital Markets from $65.00 to $71.00 in a note issued to investors on Friday. The brokerage currently has a “market perform” rating on the apparel retailer’s stock. BMO Capital Markets’ target price points to a potential downside of 1.73% from the company’s previous close.
ROST has been the topic of a number of other research reports. Telsey Advisory Group restated a “buy” rating on shares of Ross Stores in a report on Friday. SunTrust Banks, Inc. set a $80.00 price target on Ross Stores and gave the company a “buy” rating in a report on Friday. Royal Bank Of Canada restated a “sector perform” rating and set a $70.00 price target (up previously from $62.00) on shares of Ross Stores in a report on Friday. Morgan Stanley boosted their price target on Ross Stores from $70.00 to $77.00 and gave the company an “overweight” rating in a report on Friday. Finally, Nomura set a $80.00 price target on Ross Stores and gave the company a “buy” rating in a report on Friday. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and fifteen have assigned a buy rating to the stock. Ross Stores currently has a consensus rating of “Buy” and a consensus price target of $72.62.
Ross Stores (NASDAQ:ROST) traded up $6.56 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 stock has a market capitalization of $27,859.02, a P/E ratio of 23.08, a P/E/G ratio of 2.24 and a beta of 1.10. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.76 and a current ratio of 1.64. Ross Stores has a 1 year low of $52.85 and a 1 year high of $73.94.
Ross Stores (NASDAQ:ROST) last released its quarterly earnings data on Thursday, November 16th. The apparel retailer reported $0.72 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.67 by $0.05. The firm had revenue of $3.33 billion for the quarter, compared to the consensus estimate of $3.26 billion. Ross Stores had a return on equity of 43.48% and a net margin of 8.93%. The company’s quarterly revenue was up 7.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.62 earnings per share. analysts expect that Ross Stores will post 3.28 earnings per share for the current year.
In other news, insider Brian R. Morrow sold 6,157 shares of the business’s stock in a transaction that occurred on Wednesday, October 4th. The stock was sold at an average price of $65.30, for a total value of $402,052.10. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Barbara Rentler sold 15,492 shares of the business’s stock in a transaction that occurred on Tuesday, September 12th. The stock was 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. Insiders own 2.30% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the company. Balentine LLC boosted its position in shares of Ross Stores by 0.3% in the 2nd quarter. Balentine LLC now owns 1,775 shares of the apparel retailer’s stock worth $102,000 after purchasing an additional 5 shares in the last quarter. Parkside Financial Bank & Trust boosted its position in shares of Ross Stores by 3.4% in the 2nd quarter. Parkside Financial Bank & Trust now owns 1,868 shares of the apparel retailer’s stock worth $108,000 after purchasing an additional 61 shares in the last quarter. Acrospire Investment Management LLC lifted its position in Ross Stores by 100.0% in the 2nd quarter. Acrospire Investment Management LLC now owns 2,000 shares of the apparel retailer’s stock valued at $115,000 after acquiring an additional 1,000 shares in the last quarter. Zions Bancorporation lifted its position in Ross Stores by 338.9% in the 3rd quarter. Zions Bancorporation now owns 2,120 shares of the apparel retailer’s stock valued at $137,000 after acquiring an additional 1,637 shares in the last quarter. Finally, Welch Group LLC lifted its position in Ross Stores by 35.2% in the 2nd quarter. Welch Group LLC now owns 2,752 shares of the apparel retailer’s stock valued at $159,000 after acquiring an additional 716 shares in the last quarter. 90.51% of the stock is currently owned by hedge funds and other institutional investors.
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.
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