Ross Stores (NASDAQ:ROST) Price Target Lowered to $97.00 at Nomura Instinet

Ross Stores (NASDAQ:ROST) had its target price reduced by Nomura Instinet from $100.00 to $97.00 in a research note published on Friday, BenzingaRatingsTable reports. Nomura Instinet currently has a neutral rating on the apparel retailer’s stock.

Other analysts have also recently issued research reports about the company. BidaskClub cut Ross Stores from a hold rating to a sell rating in a report on Saturday, April 25th. Gordon Haskett started coverage on Ross Stores in a report on Wednesday, January 29th. They issued an accumulate rating and a $132.00 price target for the company. Citigroup lifted their price target on Ross Stores from $90.00 to $108.00 and gave the company a buy rating in a report on Friday. Robert W. Baird lowered their price target on Ross Stores from $124.00 to $112.00 and set an outperform rating for the company in a report on Thursday, April 9th. Finally, Odeon Capital Group started coverage on Ross Stores in a report on Thursday, January 23rd. They issued a sell rating and a $105.00 price target for the company. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and eighteen have given a buy rating to the company. The stock currently has a consensus rating of Buy and an average price target of $108.54.

Ross Stores stock traded down $2.99 during midday trading 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 capitalization of $34.43 billion, a price-to-earnings ratio of 36.39, a P/E/G ratio of 3.79 and a beta of 0.80. The firm’s 50-day simple moving average is $87.44 and its 200-day simple moving average is $104.45. Ross Stores has a 1 year low of $56.30 and a 1 year high of $124.16. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.59 and a current ratio of 1.27.

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 analysts’ consensus estimates of ($0.01) by ($0.86). The company had revenue of $1.84 billion for 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 company’s revenue for the quarter was down 51.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.15 EPS. On average, analysts forecast 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 ROST. Princeton Global Asset Management LLC acquired a new position in shares of Ross Stores in the 4th quarter valued at approximately $25,000. Patriot Financial Group Insurance Agency LLC raised its position 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 valued at $27,000 after purchasing an additional 281 shares in the last quarter. Savior LLC acquired a new position in shares of Ross Stores in the 4th quarter valued at approximately $28,000. Solstein Capital LLC acquired a new position in shares of Ross Stores in the 4th quarter valued at approximately $29,000. Finally, Fred Alger Management LLC raised its position in shares of 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 purchasing an additional 150 shares in the last quarter. 86.38% of the stock is currently 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.

Further Reading: Call Option Volume

Analyst Recommendations for Ross Stores (NASDAQ:ROST)

Receive News & Ratings for Ross Stores Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ross Stores and related companies with MarketBeat.com's FREE daily email newsletter.