Ross Stores (ROST) Downgraded by BidaskClub
Ross Stores (NASDAQ:ROST) was downgraded by research analysts at BidaskClub from a “buy” rating to a “hold” rating in a research note issued to investors on Thursday.
A number of other equities analysts also recently issued reports on ROST. Zacks Investment Research downgraded Ross Stores from a “buy” rating to a “hold” rating in a research report on Wednesday, September 13th. Royal Bank of Canada reiterated a “hold” rating and set a $62.00 price target on shares of Ross Stores in a research report on Monday, September 18th. JPMorgan Chase & Co. upgraded Ross Stores from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $65.00 to $74.00 in a research report on Monday, September 25th. Bank of America reiterated a “buy” rating and set a $80.00 price target on shares of Ross Stores in a research report on Monday, September 25th. Finally, Buckingham Research reiterated a “neutral” rating and set a $71.00 price target on shares of Ross Stores in a research report on Thursday, October 19th. Ten research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. Ross Stores presently has an average rating of “Buy” and a consensus target price of $73.71.
Ross Stores (NASDAQ:ROST) opened at $80.71 on Thursday. The stock has a market capitalization of $30,850.00, a P/E ratio of 25.79, a price-to-earnings-growth ratio of 2.50 and a beta of 1.14. The company has a current ratio of 1.57, a quick ratio of 0.68 and a debt-to-equity ratio of 0.14. Ross Stores has a 1 year low of $52.85 and a 1 year high of $82.12.
Ross Stores (NASDAQ:ROST) last issued its quarterly earnings results on Thursday, November 16th. The apparel retailer reported $0.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.67 by $0.05. The company 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 43.21% and a net margin of 8.93%. Ross Stores’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.62 earnings per share. equities analysts forecast that Ross Stores will post 3.28 EPS for the current fiscal year.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in ROST. Balentine LLC lifted its position 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 in the last quarter. Sit Investment Associates Inc. lifted its position 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 in the last quarter. Acrospire Investment Management LLC lifted its position in Ross Stores by 100.0% during the second quarter. Acrospire Investment Management LLC now owns 2,000 shares of the apparel retailer’s stock worth $115,000 after buying an additional 1,000 shares in the last quarter. Zions Bancorporation lifted its position 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 in the last quarter. Finally, Windward Capital Management Co. CA purchased a new position in Ross Stores during the fourth quarter worth approximately $209,000. Institutional investors and hedge funds own 91.43% 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.
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