Ross Stores (NASDAQ:ROST) Price Target Increased to $100.00 by Analysts at JPMorgan Chase & Co.

Ross Stores (NASDAQ:ROST) had its price target upped by JPMorgan Chase & Co. from $94.00 to $100.00 in a research note published on Friday morning, The Fly reports. They currently have an overweight rating on the apparel retailer’s stock.

A number of other brokerages have also issued reports on ROST. Royal Bank of Canada reaffirmed a buy rating and set a $90.00 target price on shares of Ross Stores in a research report on Sunday, April 19th. Nomura Instinet boosted their target price on Ross Stores from $80.00 to $100.00 and gave the stock a neutral rating in a research report on Monday, May 11th. DA Davidson raised Ross Stores from a neutral rating to a buy rating and boosted their target price for the stock from $87.00 to $108.00 in a research report on Tuesday, April 28th. Barclays boosted their target price on Ross Stores from $111.00 to $115.00 and gave the stock an overweight rating in a research report on Friday. Finally, Robert W. Baird cut their target price on Ross Stores from $124.00 to $112.00 and set an outperform rating on the stock in a research report on Thursday, April 9th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and eighteen have issued a buy rating to the stock. The stock has a consensus rating of Buy and a consensus target price of $108.54.

Shares of 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. Ross Stores has a 52 week low of $56.30 and a 52 week high of $124.16. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.27 and a quick ratio of 0.59. The firm’s 50 day moving average price is $87.44 and its 200-day moving average price is $104.45. The company has a market capitalization of $34.43 billion, a P/E ratio of 36.39, a P/E/G ratio of 3.79 and a beta of 0.80.

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

A number of hedge funds and other institutional investors have recently modified their holdings of ROST. Janney Montgomery Scott LLC grew its stake in Ross Stores by 5.9% in the fourth quarter. Janney Montgomery Scott LLC now owns 36,896 shares of the apparel retailer’s stock valued at $4,295,000 after purchasing an additional 2,054 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Ross Stores by 3.3% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 87,058 shares of the apparel retailer’s stock worth $10,135,000 after acquiring an additional 2,755 shares in the last quarter. Wealthfront Advisers LLC boosted its stake in shares of Ross Stores by 1.2% during the 4th quarter. Wealthfront Advisers LLC now owns 11,866 shares of the apparel retailer’s stock worth $1,381,000 after acquiring an additional 144 shares in the last quarter. Savior LLC bought a new stake in shares of Ross Stores during the 4th quarter worth about $28,000. Finally, J.W. Cole Advisors Inc. bought a new stake in shares of Ross Stores during the 4th quarter worth about $341,000. Hedge funds and other institutional investors 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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Analyst Recommendations for Ross Stores (NASDAQ:ROST)

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