Ross Stores, Inc. (NASDAQ:ROST) Receives $106.00 Consensus Target Price from Analysts

Ross Stores, Inc. (NASDAQ:ROST) has been given a consensus recommendation of “Buy” by the twenty-seven brokerages that are covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and nineteen have given a buy rating to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $106.00.

A number of research firms recently issued reports on ROST. TheStreet cut Ross Stores from a “b-” rating to a “c” rating in a report on Thursday, May 21st. Telsey Advisory Group upgraded Ross Stores from a “market perform” rating to an “outperform” rating and set a $112.00 target price for the company in a report on Monday, August 17th. Barclays cut their price target on Ross Stores from $115.00 to $105.00 and set an “overweight” rating on the stock in a research note on Friday, August 21st. MKM Partners dropped their target price on shares of Ross Stores from $110.00 to $105.00 and set a “buy” rating on the stock in a report on Friday, August 21st. Finally, Bank of America reaffirmed a “buy” rating and issued a $110.00 price target (up previously from $105.00) on shares of Ross Stores in a research report on Friday, May 22nd.

Hedge funds and other institutional investors have recently modified their holdings of the company. Flagship Harbor Advisors LLC increased its holdings in Ross Stores by 132.3% in the second quarter. Flagship Harbor Advisors LLC now owns 302 shares of the apparel retailer’s stock valued at $25,000 after buying an additional 172 shares in the last quarter. Bartlett & Co. LLC purchased a new position in Ross Stores during the first quarter worth approximately $39,000. Bainco International Investors acquired a new stake in Ross Stores in the first quarter valued at approximately $43,000. Front Row Advisors LLC increased its position in shares of Ross Stores by 63.5% in the first quarter. Front Row Advisors LLC now owns 507 shares of the apparel retailer’s stock valued at $46,000 after buying an additional 197 shares in the last quarter. Finally, Balentine LLC acquired a new position in shares of Ross Stores during the 1st quarter worth approximately $54,000. 84.67% of the stock is currently owned by institutional investors and hedge funds.

Shares of NASDAQ ROST traded up $2.10 during trading hours on Wednesday, hitting $96.02. 1,907,785 shares of the company traded hands, compared to its average volume of 3,047,921. The company’s 50 day moving average price is $91.32 and its 200 day moving average price is $89.87. Ross Stores has a 12 month low of $56.30 and a 12 month high of $124.16. The stock has a market capitalization of $34.18 billion, a price-to-earnings ratio of 64.01, a price-to-earnings-growth ratio of 7.12 and a beta of 0.74. The company has a current ratio of 1.70, a quick ratio of 1.34 and a debt-to-equity ratio of 0.80.

Ross Stores (NASDAQ:ROST) last announced its earnings results on Thursday, August 20th. The apparel retailer reported $0.06 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.28) by $0.34. Ross Stores had a net margin of 4.25% and a return on equity of 22.08%. The business had revenue of $2.68 billion for the quarter, compared to the consensus estimate of $2.42 billion. During the same quarter in the prior year, the firm posted $1.14 earnings per share. The business’s revenue for the quarter was down 32.5% on a year-over-year basis. Equities analysts anticipate that Ross Stores will post 1.27 EPS for the current year.

Ross Stores Company Profile

Ross Stores, Inc, together with its subsidiaries, operates off-price retail apparel and home fashion stores under the Ross Dress for Less and dd's DISCOUNTS brands. Its stores primarily offers apparel, accessories, footwear, and home fashions. The company's Ross Dress for Less stores sell its products at department and specialty stores primarily to middle income households; and dd's DISCOUNTS stores sell its products at department and discount stores regular prices to customers from households with moderate income.

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Analyst Recommendations for Ross Stores (NASDAQ:ROST)

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