Ross Stores, Inc. (ROST) Given a $78.00 Price Target at Cowen and Company
Ross Stores, Inc. (NASDAQ:ROST) has been given a $78.00 target price by equities researchers at Cowen and Company in a research note issued on Saturday. The firm presently has a “buy” rating on the apparel retailer’s stock. Cowen and Company’s price objective would indicate a potential upside of 7.96% from the stock’s current price.
A number of other equities analysts have also weighed in on the company. Jefferies Group LLC set a $66.00 price objective on Ross Stores and gave the company a “hold” rating in a research note on Saturday. Buckingham Research lifted their price objective on Ross Stores from $71.00 to $72.00 and gave the company a “neutral” rating in a research note on Friday. BMO Capital Markets lifted their price objective on Ross Stores from $65.00 to $71.00 and gave the company a “market perform” rating in a research note on Friday. Nomura set a $80.00 price objective on Ross Stores and gave the company a “buy” rating in a research note on Friday. Finally, Morgan Stanley raised their target price on Ross Stores from $70.00 to $77.00 and gave the company an “overweight” rating in a research report on Friday. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and fifteen have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $73.71.
Ross Stores (ROST) traded up $6.56 during midday trading on Friday, hitting $72.25. The company’s stock had a trading volume of 2,543,042 shares, compared to its average volume of 2,500,157. The stock has a market cap of $27,859.02, a price-to-earnings ratio of 23.08, a P/E/G ratio of 2.24 and a beta of 1.10. Ross Stores has a twelve month low of $52.85 and a twelve month high of $73.94. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.64 and a quick ratio of 0.76.
Ross Stores (NASDAQ:ROST) last released its quarterly earnings data 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 business had revenue of $3.33 billion during the quarter, compared to analyst estimates of $3.26 billion. Ross Stores had a return on equity of 43.48% and a net margin of 8.93%. The company’s revenue was up 7.8% on a year-over-year basis. During the same quarter last year, the business posted $0.62 EPS. sell-side analysts expect that Ross Stores will post 3.28 earnings per share for the current year.
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In other Ross Stores news, CEO Barbara Rentler sold 15,492 shares of the business’s stock in a transaction that occurred on Tuesday, September 12th. The stock was sold at an average price of $61.00, for a total value of $945,012.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Brian R. Morrow sold 6,157 shares of the business’s stock in a transaction that occurred on Wednesday, October 4th. The shares were sold at an average price of $65.30, for a total value of $402,052.10. The disclosure for this sale can be found here. 2.30% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Herndon Capital Management LLC raised its position in Ross Stores by 85.6% in the second quarter. Herndon Capital Management LLC now owns 202,917 shares of the apparel retailer’s stock valued at $11,715,000 after purchasing an additional 93,559 shares during the period. State of New Jersey Common Pension Fund D purchased a new stake in Ross Stores in the third quarter valued at approximately $646,000. Hendershot Investments Inc. raised its position in Ross Stores by 104.8% in the third quarter. Hendershot Investments Inc. now owns 31,927 shares of the apparel retailer’s stock valued at $2,062,000 after purchasing an additional 16,340 shares during the period. Andra AP fonden raised its position in Ross Stores by 8.5% in the third quarter. Andra AP fonden now owns 105,100 shares of the apparel retailer’s stock valued at $6,786,000 after purchasing an additional 8,200 shares during the period. Finally, PGGM Investments raised its position in Ross Stores by 47.8% in the third quarter. PGGM Investments now owns 720,055 shares of the apparel retailer’s stock valued at $46,494,000 after purchasing an additional 232,899 shares during the period. 90.51% of the stock is currently owned by institutional investors.
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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