Ross Stores (NASDAQ:ROST)‘s stock had its “buy” rating reissued by equities researchers at Nomura in a research note issued on Wednesday, January 17th, MarketBeat reports. They presently have a $90.00 price target on the apparel retailer’s stock, up from their previous price target of $80.00. Nomura’s target price points to a potential upside of 16.35% from the company’s current price.
A number of other brokerages also recently issued reports on ROST. BidaskClub upgraded Ross Stores from a “hold” rating to a “buy” rating in a research note on Wednesday, December 27th. Jefferies Group set a $66.00 price objective on Ross Stores and gave the company a “hold” rating in a research note on Saturday, November 18th. Cowen set a $78.00 price objective on Ross Stores and gave the company a “buy” rating in a research note on Saturday, November 18th. Buckingham Research upped 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, November 17th. Finally, BMO Capital Markets increased their price target on Ross Stores from $65.00 to $71.00 and gave the stock a “market perform” rating in a research note on Friday, November 17th. Ten research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $73.90.
Shares of Ross Stores (NASDAQ ROST) traded up $0.03 during trading on Wednesday, reaching $77.35. The company had a trading volume of 2,280,494 shares, compared to its average volume of 2,410,000. Ross Stores has a 1-year low of $52.85 and a 1-year high of $85.66. The company has a market capitalization of $29,560.00, a P/E ratio of 24.71, a P/E/G ratio of 2.09 and a beta of 1.06. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.57 and a quick ratio of 0.68.
Ross Stores (NASDAQ:ROST) last announced its quarterly earnings results on Thursday, November 16th. The apparel retailer reported $0.72 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.67 by $0.05. Ross Stores had a return on equity of 43.21% and a net margin of 8.93%. The business had revenue of $3.33 billion during the quarter, compared to the consensus estimate of $3.26 billion. During the same quarter in the prior year, the company posted $0.62 earnings per share. Ross Stores’s revenue was up 7.8% compared to the same quarter last year. sell-side analysts anticipate that Ross Stores will post 3.29 EPS for the current fiscal year.
Large investors have recently added to or reduced their stakes in the business. Cerebellum GP LLC purchased a new stake in shares of Ross Stores in the 4th quarter valued at about $132,000. Balentine LLC raised its holdings in shares of Ross Stores by 0.3% in the 2nd quarter. Balentine LLC now owns 1,775 shares of the apparel retailer’s stock valued at $102,000 after acquiring an additional 5 shares in the last quarter. Sit Investment Associates Inc. raised its holdings in shares of Ross Stores by 255.1% in the 4th quarter. Sit Investment Associates Inc. now owns 1,900 shares of the apparel retailer’s stock valued at $152,000 after acquiring an additional 1,365 shares in the last quarter. Harvest Fund Management Co. Ltd purchased a new stake in shares of Ross Stores in the 4th quarter valued at about $159,000. Finally, Acrospire Investment Management LLC raised its holdings in shares of Ross Stores by 100.0% in the 2nd quarter. Acrospire Investment Management LLC now owns 2,000 shares of the apparel retailer’s stock valued at $115,000 after acquiring an additional 1,000 shares in the last quarter. 91.86% of the stock is currently owned by hedge funds and other institutional investors.
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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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