Ross Stores (NASDAQ:ROST) Given New $115.00 Price Target at Wells Fargo & Co

Ross Stores (NASDAQ:ROST) had its price target boosted by Wells Fargo & Co from $110.00 to $115.00 in a report released on Friday morning, BenzingaRatingsTable reports. The brokerage currently has an overweight rating on the apparel retailer’s stock.

Several other equities analysts have also recently weighed in on ROST. Nomura raised their price target on shares of Ross Stores from $80.00 to $100.00 in a research report on Monday, May 11th. Odeon Capital Group assumed coverage on shares of Ross Stores in a research report on Thursday, January 23rd. They issued a sell rating and a $105.00 price target on the stock. DA Davidson raised shares of Ross Stores from a neutral rating to a buy rating and raised their price target for the company from $87.00 to $108.00 in a research report on Tuesday, April 28th. MKM Partners reaffirmed a buy rating and issued a $124.00 price target (up previously from $121.00) on shares of Ross Stores in a research report on Wednesday, March 4th. Finally, Cfra raised their price target on shares of Ross Stores from $100.00 to $105.00 and gave the company a buy rating in a research report on Friday. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and eighteen have assigned a buy rating to the company’s stock. Ross Stores has an average rating of Buy and an average target price of $108.54.

Shares of ROST stock traded down $2.99 on Friday, reaching $93.88. 5,320,136 shares of the company were exchanged, compared to its average volume of 2,676,213. The company has a market cap of $34.43 billion, a price-to-earnings ratio of 36.39, a PEG ratio of 3.79 and a beta of 0.80. The company 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 current ratio of 1.27 and a quick ratio of 0.59. Ross Stores has a one year low of $56.30 and a one year high of $124.16.

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. As a group, sell-side analysts predict that Ross Stores will post 2.55 EPS for the current year.

Several hedge funds have recently modified their holdings of the company. Princeton Global Asset Management LLC purchased a new position in Ross Stores in the 4th quarter valued at approximately $25,000. Patriot Financial Group Insurance Agency LLC grew its stake in 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 valued at $27,000 after buying an additional 281 shares in the last quarter. Savior LLC purchased a new position in Ross Stores in the 4th quarter valued at approximately $28,000. Solstein Capital LLC purchased a new position in Ross Stores in the 4th quarter valued at approximately $29,000. Finally, Fred Alger Management LLC grew its stake in Ross Stores by 111.1% in 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. 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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