Telsey Advisory Group Reaffirms “Buy” Rating for Ross Stores, Inc. (ROST)
Ross Stores, Inc. (NASDAQ:ROST)‘s stock had its “buy” rating reissued by stock analysts at Telsey Advisory Group in a report issued on Friday.
Other research analysts have also recently issued reports about the stock. Royal Bank Of Canada reiterated a “hold” rating and issued a $62.00 target price on shares of Ross Stores in a research note on Monday, September 18th. Wolfe Research dropped their target price on shares of Ross Stores from $76.00 to $73.00 and set an “outperform” rating on the stock in a research note on Friday, August 18th. Zacks Investment Research cut shares of Ross Stores from a “buy” rating to a “hold” rating in a research note on Tuesday, August 8th. BMO Capital Markets set a $65.00 target price on shares of Ross Stores and gave the company a “hold” rating in a research note on Tuesday, August 8th. Finally, Bank of America Corporation reiterated a “buy” rating and issued a $80.00 target price on shares of Ross Stores in a research note on Sunday, August 20th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and thirteen have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $70.47.
Ross Stores (NASDAQ ROST) opened at $65.69 on Friday. Ross Stores has a twelve month low of $52.85 and a twelve month high of $69.81. The firm has a market cap of $24,913.11, a PE ratio of 21.32, a P/E/G ratio of 2.00 and a beta of 1.10. The company has a current ratio of 1.64, a quick ratio of 0.76 and a debt-to-equity ratio of 0.14.
Ross Stores (NASDAQ:ROST) last released its earnings results on Thursday, November 16th. The apparel retailer reported $0.72 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.67 by $0.05. The firm had revenue of $3.33 billion for the quarter, compared to analysts’ expectations of $3.26 billion. Ross Stores had a net margin of 8.87% and a return on equity of 42.95%. The company’s quarterly revenue was up 7.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.62 earnings per share. analysts predict that Ross Stores will post 3.22 EPS for the current year.
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In other Ross Stores news, insider Brian R. Morrow sold 6,157 shares of the stock in a transaction on Wednesday, October 4th. The shares were sold at an average price of $65.30, for a total transaction of $402,052.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Barbara Rentler sold 15,492 shares of the stock in a transaction on Tuesday, September 12th. The shares were sold at an average price of $61.00, for a total transaction of $945,012.00. The disclosure for this sale can be found here. 2.30% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of ROST. Balentine LLC raised its holdings in Ross Stores by 0.3% in the 2nd quarter. Balentine LLC now owns 1,775 shares of the apparel retailer’s stock worth $102,000 after purchasing an additional 5 shares in the last quarter. Parkside Financial Bank & Trust raised its holdings in Ross Stores by 3.4% in the 2nd quarter. Parkside Financial Bank & Trust now owns 1,868 shares of the apparel retailer’s stock worth $108,000 after purchasing an additional 61 shares in the last quarter. Acrospire Investment Management LLC raised its holdings in Ross Stores by 100.0% in the 2nd quarter. Acrospire Investment Management LLC now owns 2,000 shares of the apparel retailer’s stock worth $115,000 after purchasing an additional 1,000 shares in the last quarter. Zions Bancorporation raised its holdings in Ross Stores by 338.9% in the 3rd quarter. Zions Bancorporation now owns 2,120 shares of the apparel retailer’s stock worth $137,000 after purchasing an additional 1,637 shares in the last quarter. Finally, Welch Group LLC raised its holdings in Ross Stores by 35.2% in the 2nd quarter. Welch Group LLC now owns 2,752 shares of the apparel retailer’s stock worth $159,000 after purchasing an additional 716 shares in the last quarter. Institutional investors and hedge funds own 90.51% of the company’s stock.
About Ross Stores
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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