A number of firms have modified their ratings and price targets on shares of Ross Stores (NASDAQ: ROST) recently:

  • 8/8/2017 – Ross Stores had its “neutral” rating reaffirmed by analysts at Credit Suisse Group. They now have a $64.00 price target on the stock, down previously from $70.00.
  • 8/8/2017 – Ross Stores was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Ross Stores has outperformed the broader industry in the past one year, given its positive record of earnings surprises in recent quarters. Notably, the company has recorded earnings beat in 11 of the past 12 quarters. Strong earnings trend stemmed from the favorable response of value-focused customers to Ross Stores’ extensive collection of brand bargains and solid cost controls. Moreover, its solid financial status, ongoing merchandise initiatives and consistent focus on-store expansion bode well. Further, the company provided an encouraging outlook for the second quarter and raised fiscal 2017 earnings per share view. However, the company expects to face challenges related to strong year-over-year earnings and sales comparisons amid macroeconomic uncertainty and a volatile retail landscape. Further, threats of stiff competition and cannibalization remain. Estimates have been stable ahead of the second quarter earnings release.”
  • 8/8/2017 – Ross Stores was given a new $65.00 price target on by analysts at BMO Capital Markets. They now have a “hold” rating on the stock.
  • 8/2/2017 – Ross Stores had its “neutral” rating reaffirmed by analysts at Credit Suisse Group. They now have a $64.00 price target on the stock, down previously from $70.00.
  • 7/31/2017 – Ross Stores was upgraded by analysts at BidaskClub from a “strong sell” rating to a “sell” rating.
  • 7/14/2017 – Ross Stores was upgraded by analysts at Telsey Advisory Group from a “market perform” rating to an “outperform” rating. They now have a $70.00 price target on the stock. They noted that the move was a valuation call. They noted that the move was a valuation call.
  • 7/12/2017 – Ross Stores was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $61.00 price target on the stock. According to Zacks, “Ross Stores has outperformed the broader industry in the past one year, given its positive record of earnings surprises in recent quarters. Notably, the company has recorded earnings beat in 11 of the past 12 quarters. Strong earnings trend stemmed from the favorable response of value-focused customers to Ross Stores’ extensive collection of brand bargains and solid cost controls. Moreover, its solid financial status, ongoing merchandise initiatives and consistent focus on-store expansion bode well. Further, the company provided an encouraging outlook for the second quarter and raised fiscal 2017 earnings per share view. However, the company expects to face challenges related to strong year-over-year earnings and sales comparisons amid macroeconomic uncertainty and a volatile retail landscape. Further, threats of stiff competition and cannibalization remain. Estimates have been stable ahead of the second quarter earnings release.”
  • 7/6/2017 – Ross Stores was given a new $65.00 price target on by analysts at BMO Capital Markets. They now have a “hold” rating on the stock.
  • 6/19/2017 – Ross Stores was given a new $67.00 price target on by analysts at Royal Bank Of Canada. They now have a “hold” rating on the stock.
  • 6/17/2017 – Ross Stores was downgraded by analysts at BidaskClub from a “sell” rating to a “strong sell” rating.

Shares of Ross Stores, Inc. (NASDAQ:ROST) opened at 54.80 on Friday. The firm’s 50-day moving average price is $55.48 and its 200 day moving average price is $62.55. The company has a market cap of $21.33 billion, a PE ratio of 18.77 and a beta of 1.10. Ross Stores, Inc. has a 12 month low of $52.91 and a 12 month high of $69.81.

Ross Stores (NASDAQ:ROST) last issued its earnings results on Thursday, May 18th. The apparel retailer reported $0.82 EPS for the quarter, topping analysts’ consensus estimates of $0.80 by $0.02. The firm had revenue of $3.31 billion during the quarter, compared to the consensus estimate of $3.27 billion. Ross Stores had a net margin of 8.77% and a return on equity of 42.56%. The company’s revenue was up 7.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.73 earnings per share. Equities research analysts anticipate that Ross Stores, Inc. will post $3.16 earnings per share for the current fiscal year.

In related news, Director Sharon D. Garrett sold 16,130 shares of the business’s stock in a transaction on Friday, May 26th. The shares were sold at an average price of $63.23, for a total transaction of $1,019,899.90. Following the completion of the transaction, the director now owns 4,967 shares in the company, valued at $314,063.41. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 2.30% of the company’s stock.

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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