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

Ross Stores (NASDAQ:ROST) had its target price trimmed by Nomura from $100.00 to $97.00 in a research report sent to investors on Friday morning, Stock Target Advisor reports. The firm currently has a neutral rating on the apparel retailer’s stock.

Other equities analysts have also issued reports about the stock. Morgan Stanley reiterated a buy rating and issued a $105.00 price target on shares of Ross Stores in a research note on Monday, April 27th. Robert W. Baird dropped their price target on shares of Ross Stores from $124.00 to $112.00 and set an outperform rating on the stock in a research note on Thursday, April 9th. Nomura Securities dropped their price target on shares of Ross Stores from $83.00 to $80.00 and set a neutral rating on the stock in a research note on Tuesday, March 31st. Bank of America reiterated a buy rating and issued a $110.00 price target (up from $105.00) on shares of Ross Stores in a research note on Friday. Finally, Goldman Sachs Group upgraded shares of Ross Stores from a sell rating to a buy rating and lowered their target price for the stock from $110.00 to $93.00 in a research report on Wednesday, March 25th. Two research 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. Ross Stores has an average rating of Buy and an average price target of $108.54.

Shares of ROST stock traded down $2.99 during trading hours on Friday, reaching $93.88. 5,320,136 shares of the stock were exchanged, compared to its average volume of 2,676,213. The business’s fifty day moving average is $87.44 and its two-hundred day moving average is $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 12-month low of $56.30 and a 12-month high of $124.16. The firm 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 announced its quarterly earnings results on Thursday, May 21st. The apparel retailer reported ($0.87) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.01) by ($0.86). The company had revenue of $1.84 billion during the quarter, compared to analysts’ expectations of $2.04 billion. Ross Stores had a net margin of 6.63% and a return on equity of 34.38%. The business’s revenue for the quarter was down 51.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.15 earnings per share. As a group, equities research analysts predict that Ross Stores will post 2.55 earnings per share for the current fiscal year.

A number of institutional investors have recently added to or reduced their stakes in ROST. Norges Bank acquired a new stake in Ross Stores in the fourth quarter valued at $420,147,000. Vontobel Asset Management Inc. acquired a new stake in Ross Stores in the first quarter valued at $186,885,000. APG Asset Management N.V. lifted its holdings in Ross Stores by 1,000.4% in the first quarter. APG Asset Management N.V. now owns 1,208,360 shares of the apparel retailer’s stock valued at $100,190,000 after acquiring an additional 1,098,551 shares during the period. Amundi Pioneer Asset Management Inc. lifted its holdings in Ross Stores by 27.3% in the fourth quarter. Amundi Pioneer Asset Management Inc. now owns 4,383,326 shares of the apparel retailer’s stock valued at $510,307,000 after acquiring an additional 940,447 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in Ross Stores by 45.3% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,129,928 shares of the apparel retailer’s stock valued at $185,240,000 after acquiring an additional 663,971 shares during the period. 86.38% of the stock is owned by 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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