Ross Stores, Inc. (ROST) Receives $95.57 Average Price Target from Analysts

Shares of Ross Stores, Inc. (NASDAQ:ROST) have been given an average recommendation of “Buy” by the thirty research firms that are currently covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eighteen have given a buy rating to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $95.57.

Several research analysts recently commented on the stock. Deutsche Bank lifted their target price on shares of Ross Stores from $91.00 to $96.00 and gave the stock a “buy” rating in a report on Monday, August 20th. SunTrust Banks boosted their price objective on shares of Ross Stores to $103.00 and gave the stock a “buy” rating in a report on Friday, August 24th. Nomura boosted their price objective on shares of Ross Stores from $90.00 to $95.00 and gave the stock a “buy” rating in a report on Friday, August 24th. Wells Fargo & Co boosted their price objective on shares of Ross Stores from $86.00 to $105.00 and gave the stock a “buy” rating in a report on Thursday, August 23rd. Finally, Loop Capital boosted their price objective on shares of Ross Stores to $100.00 and gave the stock a “buy” rating in a report on Thursday, August 23rd.

Shares of NASDAQ:ROST opened at $101.48 on Friday. The firm has a market cap of $37.35 billion, a price-to-earnings ratio of 25.98, a P/E/G ratio of 2.43 and a beta of 0.98. Ross Stores has a 12-month low of $63.55 and a 12-month high of $101.71. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.71 and a quick ratio of 0.85.

Ross Stores (NASDAQ:ROST) last released its quarterly earnings results on Thursday, August 23rd. The apparel retailer reported $1.04 earnings per share for the quarter, beating analysts’ consensus estimates of $1.01 by $0.03. The business had revenue of $3.74 billion for the quarter, compared to the consensus estimate of $3.66 billion. Ross Stores had a net margin of 10.41% and a return on equity of 47.56%. Ross Stores’s revenue for the quarter was up 8.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.82 EPS. Equities analysts forecast that Ross Stores will post 4.15 EPS for the current fiscal year.

In other Ross Stores news, CEO Barbara Rentler sold 20,000 shares of the business’s stock in a transaction dated Friday, October 12th. The shares were sold at an average price of $95.15, for a total value of $1,903,000.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Norman A. Ferber sold 10,144 shares of the business’s stock in a transaction dated Monday, August 27th. The stock was sold at an average price of $94.90, for a total transaction of $962,665.60. Following the completion of the transaction, the director now directly owns 25,127 shares of the company’s stock, valued at $2,384,552.30. The disclosure for this sale can be found here. 2.40% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in ROST. Dorsey Wright & Associates raised its stake in shares of Ross Stores by 9.1% during the second quarter. Dorsey Wright & Associates now owns 36,527 shares of the apparel retailer’s stock worth $3,096,000 after buying an additional 3,044 shares during the last quarter. DnB Asset Management AS raised its stake in shares of Ross Stores by 4.0% during the second quarter. DnB Asset Management AS now owns 46,980 shares of the apparel retailer’s stock worth $3,982,000 after buying an additional 1,800 shares during the last quarter. Clinton Group Inc. bought a new stake in shares of Ross Stores during the second quarter worth approximately $300,000. IFM Investors Pty Ltd raised its stake in shares of Ross Stores by 41.9% during the second quarter. IFM Investors Pty Ltd now owns 17,288 shares of the apparel retailer’s stock worth $1,465,000 after buying an additional 5,106 shares during the last quarter. Finally, Cullinan Associates Inc. raised its stake in shares of Ross Stores by 119.2% during the second quarter. Cullinan Associates Inc. now owns 21,700 shares of the apparel retailer’s stock worth $1,839,000 after buying an additional 11,800 shares during the last quarter. 88.33% of the stock is owned by institutional investors.

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 in the United States. It 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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