Ross Stores (NASDAQ:ROST) PT Raised to $116.00

Ross Stores (NASDAQ:ROSTGet Rating) had its target price raised by analysts at Citigroup from $100.00 to $116.00 in a research note issued to investors on Friday, The Fly reports. The brokerage presently has a “buy” rating on the apparel retailer’s stock. Citigroup’s price target would suggest a potential upside of 7.82% from the company’s previous close.

A number of other research firms have also recently commented on ROST. Morgan Stanley raised their price target on shares of Ross Stores from $118.00 to $119.00 and gave the stock an “overweight” rating in a report on Tuesday, October 25th. UBS Group raised their price objective on shares of Ross Stores from $85.00 to $92.00 and gave the company a “neutral” rating in a research note on Friday, August 19th. Gordon Haskett raised shares of Ross Stores from a “hold” rating to a “buy” rating and set a $130.00 price objective on the stock in a research note on Friday. Loop Capital raised their price objective on shares of Ross Stores from $80.00 to $85.00 in a research note on Friday, August 19th. Finally, StockNews.com began coverage on shares of Ross Stores in a research note on Wednesday, October 12th. They issued a “hold” rating on the stock. Five equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Ross Stores currently has an average rating of “Moderate Buy” and a consensus target price of $112.72.

Ross Stores Stock Performance

Shares of NASDAQ:ROST opened at $107.59 on Friday. The company’s 50 day moving average price is $89.91 and its two-hundred day moving average price is $85.58. Ross Stores has a 12-month low of $69.24 and a 12-month high of $116.84. The firm has a market cap of $37.34 billion, a PE ratio of 26.11, a PEG ratio of 2.33 and a beta of 0.97. The company has a quick ratio of 1.17, a current ratio of 1.92 and a debt-to-equity ratio of 0.59.

Ross Stores (NASDAQ:ROSTGet Rating) last announced its quarterly earnings results on Thursday, November 17th. The apparel retailer reported $1.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.81 by $0.19. Ross Stores had a net margin of 7.74% and a return on equity of 35.09%. The firm had revenue of $4.57 billion during the quarter, compared to analysts’ expectations of $4.37 billion. During the same period in the prior year, the company posted $1.09 EPS. The company’s revenue was down .2% on a year-over-year basis. Equities research analysts predict that Ross Stores will post 4 earnings per share for the current year.

Institutional Investors Weigh In On Ross Stores

Several hedge funds have recently bought and sold shares of ROST. SG Americas Securities LLC lifted its position in Ross Stores by 1.0% during the first quarter. SG Americas Securities LLC now owns 27,407 shares of the apparel retailer’s stock valued at $2,479,000 after purchasing an additional 280 shares during the last quarter. Whittier Trust Co. lifted its holdings in shares of Ross Stores by 11.9% in the 1st quarter. Whittier Trust Co. now owns 2,297 shares of the apparel retailer’s stock worth $208,000 after acquiring an additional 244 shares during the last quarter. Arkadios Wealth Advisors bought a new stake in shares of Ross Stores in the 1st quarter worth approximately $369,000. Signaturefd LLC lifted its holdings in shares of Ross Stores by 26.0% in the 1st quarter. Signaturefd LLC now owns 3,800 shares of the apparel retailer’s stock worth $344,000 after acquiring an additional 783 shares during the last quarter. Finally, Regentatlantic Capital LLC raised its holdings in Ross Stores by 30.5% during the 1st quarter. Regentatlantic Capital LLC now owns 5,376 shares of the apparel retailer’s stock valued at $486,000 after buying an additional 1,256 shares during the last quarter. 87.65% of the stock is currently owned by institutional investors.

About Ross Stores

(Get Rating)

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 brand names. Its stores primarily offer 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 for households with moderate income.

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