Ross Stores (NASDAQ:ROST) Price Target Increased to $101.00 by Analysts at Telsey Advisory Group

Ross Stores (NASDAQ:ROST) had its target price upped by Telsey Advisory Group from $96.00 to $101.00 in a research report sent to investors on Friday morning, Briefing.com Automated Import reports. They currently have a market perform rating on the apparel retailer’s stock.

Other equities analysts have also recently issued reports about the stock. Odeon Capital Group started coverage on shares of Ross Stores in a research note on Thursday, January 23rd. They issued a sell rating and a $105.00 target price for the company. Royal Bank of Canada reissued a buy rating and issued a $90.00 price target on shares of Ross Stores in a report on Sunday, April 19th. Nomura Instinet boosted their price target on shares of Ross Stores from $80.00 to $100.00 and gave the stock a neutral rating in a report on Monday, May 11th. Deutsche Bank cut their price target on shares of Ross Stores from $103.00 to $99.00 and set a buy rating for the company in a report on Monday, May 18th. Finally, UBS Group cut their price target on shares of Ross Stores from $124.00 to $86.00 and set a neutral rating for the company in a report on Thursday, April 30th. 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’s stock. Ross Stores currently has a consensus rating of Buy and an average price target of $108.54.

Shares of ROST traded down $2.99 during trading hours on Friday, hitting $93.88. The stock had a trading volume of 5,320,136 shares, compared to its average volume of 2,676,213. 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 firm has a 50-day moving average price of $87.44 and a 200 day moving average price of $104.45. Ross Stores has a fifty-two week low of $56.30 and a fifty-two week high of $124.16. The firm has a market capitalization of $34.43 billion, a price-to-earnings ratio of 36.39, a PEG ratio of 3.79 and a beta of 0.80.

Ross Stores (NASDAQ:ROST) last posted its earnings results on Thursday, May 21st. The apparel retailer reported ($0.87) earnings per share (EPS) for the quarter, missing the 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 firm had revenue of $1.84 billion during the quarter, compared to analyst estimates of $2.04 billion. During the same quarter in the prior year, the firm earned $1.15 earnings per share. The business’s revenue for the quarter was down 51.4% on a year-over-year basis. As a group, analysts predict that Ross Stores will post 2.55 EPS for the current fiscal year.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Belpointe Asset Management LLC grew its holdings in shares of Ross Stores by 97.0% in the fourth quarter. Belpointe Asset Management LLC now owns 4,237 shares of the apparel retailer’s stock valued at $493,000 after purchasing an additional 2,086 shares during the period. Boston Private Wealth LLC grew its holdings in shares of Ross Stores by 2.9% in the fourth quarter. Boston Private Wealth LLC now owns 162,587 shares of the apparel retailer’s stock valued at $18,928,000 after purchasing an additional 4,508 shares during the period. ING Groep NV grew its holdings in shares of Ross Stores by 9.0% in the fourth quarter. ING Groep NV now owns 24,812 shares of the apparel retailer’s stock valued at $2,889,000 after purchasing an additional 2,053 shares during the period. AXA grew its holdings in shares of Ross Stores by 6.5% in the fourth quarter. AXA now owns 256,324 shares of the apparel retailer’s stock valued at $29,841,000 after purchasing an additional 15,703 shares during the period. Finally, Checchi Capital Advisers LLC grew its holdings in shares of Ross Stores by 2.5% in the fourth quarter. Checchi Capital Advisers LLC now owns 4,091 shares of the apparel retailer’s stock valued at $476,000 after purchasing an additional 99 shares during the period. 86.38% of the stock is owned by hedge funds and other institutional investors.

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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