Ross Stores (NASDAQ:ROST) Given “Buy” Rating at Bank of America

Bank of America reaffirmed their buy rating on shares of Ross Stores (NASDAQ:ROST) in a research report released on Friday morning, BenzingaRatingsTable reports. The brokerage currently has a $110.00 target price on the apparel retailer’s stock, up from their prior target price of $105.00.

Several other research firms have also recently weighed in on ROST. DA Davidson raised shares of Ross Stores from a neutral rating to a buy rating and raised their target price for the company from $87.00 to $108.00 in a research note on Tuesday, April 28th. Deutsche Bank cut their target price 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. MKM Partners reaffirmed a buy rating and set a $124.00 target price (up from $121.00) on shares of Ross Stores in a research note on Wednesday, March 4th. Royal Bank of Canada raised their target price on shares of Ross Stores from $90.00 to $100.00 and gave the company an outperform rating in a research note on Friday. Finally, Nomura Instinet cut their target price on shares of Ross Stores from $100.00 to $97.00 and set a neutral rating for the company in a research note on Friday. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and eighteen have given a buy rating to the company. The stock has an average rating of Buy and an average price target of $108.54.

Shares of NASDAQ ROST traded down $2.99 during midday trading on Friday, reaching $93.88. The stock had a trading volume of 5,320,136 shares, compared to its average volume of 2,676,213. The stock has a 50-day moving average of $87.44 and a 200-day moving average of $104.45. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.59 and a current ratio of 1.27. The company has a market capitalization of $34.43 billion, a price-to-earnings ratio of 36.39, a price-to-earnings-growth ratio of 3.79 and a beta of 0.80. Ross Stores has a 12-month low of $56.30 and a 12-month high of $124.16.

Ross Stores (NASDAQ:ROST) last announced its quarterly earnings data on Thursday, May 21st. The apparel retailer reported ($0.87) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.01) by ($0.86). The firm had revenue of $1.84 billion during the quarter, compared to analysts’ expectations of $2.04 billion. Ross Stores had a return on equity of 34.38% and a net margin of 6.63%. The business’s revenue for the quarter was down 51.4% on a year-over-year basis. During the same period last year, the company earned $1.15 earnings per share. As a group, analysts forecast that Ross Stores will post 2.55 EPS for the current fiscal year.

Institutional investors have recently added to or reduced their stakes in the company. Princeton Global Asset Management LLC bought a new stake in shares of Ross Stores in the 4th quarter worth about $25,000. Patriot Financial Group Insurance Agency LLC lifted its holdings in shares of Ross Stores by 1,003.6% in the 1st quarter. Patriot Financial Group Insurance Agency LLC now owns 309 shares of the apparel retailer’s stock worth $27,000 after acquiring an additional 281 shares during the last quarter. Savior LLC bought a new stake in shares of Ross Stores in the 4th quarter worth about $28,000. Solstein Capital LLC bought a new stake in shares of Ross Stores in the 4th quarter worth about $29,000. Finally, Fred Alger Management LLC lifted its holdings in Ross Stores by 111.1% during the 4th quarter. Fred Alger Management LLC now owns 285 shares of the apparel retailer’s stock valued at $33,000 after buying an additional 150 shares in the last quarter. Hedge funds and other institutional investors own 86.38% of the company’s stock.

About Ross Stores

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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Analyst Recommendations for Ross Stores (NASDAQ:ROST)

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