Ross Stores (NASDAQ:ROST) Price Target Raised to $115.00 at Barclays

Ross Stores (NASDAQ:ROST) had its price objective raised by Barclays from $111.00 to $115.00 in a research report report published on Friday, BenzingaRatingsTable reports. The brokerage currently has an overweight rating on the apparel retailer’s stock.

Other equities research analysts also recently issued reports about the company. Nomura Securities reduced their target price on Ross Stores from $83.00 to $80.00 and set a neutral rating for the company in a report on Tuesday, March 31st. Odeon Capital Group initiated coverage on Ross Stores in a research report on Thursday, January 23rd. They set a sell rating and a $105.00 price target on the stock. JPMorgan Chase & Co. dropped their price target on Ross Stores from $129.00 to $122.00 and set an overweight rating on the stock in a research report on Wednesday, March 4th. Nomura upped their price target on Ross Stores from $80.00 to $100.00 in a research report on Monday, May 11th. Finally, Gordon Haskett initiated coverage on Ross Stores in a research report on Wednesday, January 29th. They set an accumulate rating and a $132.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and eighteen have assigned a buy rating to the stock. The company presently has an average rating of Buy and an average target price of $108.54.

Shares of NASDAQ ROST traded down $2.99 during mid-day trading on Friday, hitting $93.88. 5,320,136 shares of the company traded hands, compared to its average volume of 2,676,213. Ross Stores has a 1 year low of $56.30 and a 1 year high of $124.16. The stock 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. The company has a quick ratio of 0.59, a current ratio of 1.27 and a debt-to-equity ratio of 0.87. The business has a 50 day moving average of $87.44 and a two-hundred day moving average of $104.45.

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

Several hedge funds and other institutional investors have recently modified their holdings of ROST. Norges Bank acquired a new position in shares of Ross Stores during the 4th quarter valued at about $420,147,000. Vontobel Asset Management Inc. acquired a new position in shares of Ross Stores during the 1st quarter valued at about $186,885,000. APG Asset Management N.V. increased its holdings in shares of Ross Stores by 1,000.4% during the 1st 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 last quarter. Amundi Pioneer Asset Management Inc. increased its holdings in shares of Ross Stores by 27.3% during the 4th 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 last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. boosted its stake in Ross Stores by 45.3% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,129,928 shares of the apparel retailer’s stock valued at $185,240,000 after purchasing an additional 663,971 shares during the period. 86.38% of the stock is currently owned by institutional investors and hedge funds.

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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