Ross Stores (NASDAQ:ROST) Price Target Raised to $108.00 at Citigroup

Ross Stores (NASDAQ:ROST) had its price target boosted by Citigroup from $90.00 to $108.00 in a report released on Friday morning, The Fly reports. The brokerage currently has a buy rating on the apparel retailer’s stock.

Several other equities analysts have also recently weighed in on ROST. BidaskClub cut shares of Ross Stores from a hold rating to a sell rating in a research report on Saturday, April 25th. Wells Fargo & Co raised shares of Ross Stores from an equal weight rating to an overweight rating and raised their price target for the company from $100.00 to $110.00 in a research report on Monday, March 30th. Deutsche Bank decreased their price objective on shares of Ross Stores from $103.00 to $99.00 and set a buy rating for the company in a research note on Monday, May 18th. BMO Capital Markets decreased their price objective on shares of Ross Stores from $130.00 to $125.00 and set an outperform rating for the company in a research note on Wednesday, March 4th. Finally, Robert W. Baird decreased their price objective on shares of Ross Stores from $124.00 to $112.00 and set an outperform rating for the company in a research note on Thursday, April 9th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and eighteen have issued a buy rating to the company. The stock currently has an average rating of Buy and an average price target of $108.54.

NASDAQ ROST traded down $2.99 during trading hours on Friday, hitting $93.88. The company’s stock had a trading volume of 5,320,136 shares, compared to its average volume of 2,676,213. Ross Stores has a 52 week low of $56.30 and a 52 week high of $124.16. The company has a market capitalization of $34.43 billion, a PE ratio of 36.39, a price-to-earnings-growth ratio of 3.79 and a beta of 0.80. The company has a current ratio of 1.27, a quick ratio of 0.59 and a debt-to-equity ratio of 0.87. The company’s 50-day simple moving average is $87.44 and its two-hundred day simple moving average is $104.45.

Ross Stores (NASDAQ:ROST) last announced its quarterly earnings results on Thursday, May 21st. The apparel retailer reported ($0.87) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.01) by ($0.86). Ross Stores had a net margin of 6.63% and a return on equity of 34.38%. The business had revenue of $1.84 billion during the quarter, compared to the consensus estimate of $2.04 billion. During the same period in the previous year, the business posted $1.15 EPS. Ross Stores’s revenue was down 51.4% compared to the same quarter last year. Research analysts anticipate that Ross Stores will post 2.55 EPS for the current fiscal year.

A number of institutional investors have recently added to or reduced their stakes in the stock. HighTower Advisors LLC grew its stake in Ross Stores by 0.3% in the 1st quarter. HighTower Advisors LLC now owns 58,439 shares of the apparel retailer’s stock valued at $5,057,000 after buying an additional 191 shares in the last quarter. APG Asset Management N.V. grew its stake in Ross Stores by 265.2% in the 1st quarter. APG Asset Management N.V. now owns 401,017 shares of the apparel retailer’s stock valued at $34,876,000 after buying an additional 291,208 shares in the last quarter. Marshfield Associates grew its stake in Ross Stores by 80.7% in the 1st quarter. Marshfield Associates now owns 1,351,646 shares of the apparel retailer’s stock valued at $117,553,000 after buying an additional 603,570 shares in the last quarter. Prestige Wealth Management Group LLC grew its stake in Ross Stores by 13.9% in the 1st quarter. Prestige Wealth Management Group LLC now owns 1,863 shares of the apparel retailer’s stock valued at $161,000 after buying an additional 228 shares in the last quarter. Finally, Tenzing Global Management LLC purchased a new position in Ross Stores in the 1st quarter valued at approximately $3,479,000. Institutional investors and hedge funds own 86.38% of the company’s stock.

Ross Stores Company Profile

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 brands. Its stores primarily offers 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 regular prices to customers from households with moderate income.

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The Fly

Analyst Recommendations for Ross Stores (NASDAQ:ROST)

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