Brokerages Set Ross Stores, Inc. (ROST) Price Target at $75.30

Shares of Ross Stores, Inc. (NASDAQ:ROST) have been given an average recommendation of “Buy” by the twenty-five research firms that are covering the firm, Marketbeat.com reports. Ten research analysts have rated the stock with a hold recommendation and fifteen have issued a buy recommendation on the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $75.30.

ROST has been the subject of several recent analyst reports. Morgan Stanley boosted their price objective on shares of Ross Stores from $70.00 to $77.00 and gave the stock an “overweight” rating in a research report on Friday, November 17th. Telsey Advisory Group boosted their price objective on shares of Ross Stores from $70.00 to $75.00 and gave the stock an “outperform” rating in a research report on Friday, November 17th. BidaskClub upgraded shares of Ross Stores from a “hold” rating to a “buy” rating in a research report on Wednesday, December 27th. Jefferies Group set a $66.00 price objective on shares of Ross Stores and gave the stock a “hold” rating in a research report on Saturday, November 18th. Finally, Royal Bank of Canada set a $62.00 price objective on shares of Ross Stores and gave the stock a “hold” rating in a research report on Monday, October 30th.

Ross Stores (NASDAQ ROST) traded down $0.34 during midday trading on Friday, reaching $77.99. 2,211,949 shares of the company’s stock traded hands, compared to its average volume of 2,220,000. The company has a quick ratio of 0.68, a current ratio of 1.57 and a debt-to-equity ratio of 0.14. Ross Stores has a 12 month low of $52.85 and a 12 month high of $85.66. The firm has a market cap of $29,800.00, a PE ratio of 24.92, a PEG ratio of 2.07 and a beta of 1.06.

Ross Stores (NASDAQ:ROST) last issued its quarterly earnings data on Thursday, November 16th. The apparel retailer reported $0.72 earnings per share for the quarter, topping the consensus estimate of $0.67 by $0.05. The business had revenue of $3.33 billion during the quarter, compared to the consensus estimate of $3.26 billion. Ross Stores had a net margin of 8.93% and a return on equity of 43.21%. The company’s revenue was up 7.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.62 EPS. sell-side analysts predict that Ross Stores will post 3.29 earnings per share for the current year.

A number of hedge funds have recently added to or reduced their stakes in ROST. Balentine LLC raised its position in Ross Stores by 0.3% during the 2nd quarter. Balentine LLC now owns 1,775 shares of the apparel retailer’s stock worth $102,000 after buying an additional 5 shares during the last quarter. People s United Financial Inc. raised its position in Ross Stores by 1.3% during the 2nd quarter. People s United Financial Inc. now owns 12,306 shares of the apparel retailer’s stock worth $710,000 after buying an additional 156 shares during the last quarter. Zacks Investment Management raised its position in Ross Stores by 3.1% during the 2nd quarter. Zacks Investment Management now owns 7,850 shares of the apparel retailer’s stock worth $453,000 after buying an additional 237 shares during the last quarter. Nordea Investment Management AB raised its position in Ross Stores by 1.5% during the 2nd quarter. Nordea Investment Management AB now owns 17,813 shares of the apparel retailer’s stock worth $1,028,000 after buying an additional 255 shares during the last quarter. Finally, Novare Capital Management LLC raised its position in Ross Stores by 4.4% during the 4th quarter. Novare Capital Management LLC now owns 15,302 shares of the apparel retailer’s stock worth $1,228,000 after buying an additional 640 shares during the last quarter. Hedge funds and other institutional investors own 91.47% of the company’s stock.

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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.

Analyst Recommendations for Ross Stores (NASDAQ:ROST)

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