Brokerages Set Ross Stores, Inc. (NASDAQ:ROST) PT at $98.43

Shares of Ross Stores, Inc. (NASDAQ:ROST) have been given a consensus rating of “Buy” by the twenty-five ratings firms that are currently covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, eight have assigned a hold recommendation, fifteen have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month target price among brokerages that have covered the stock in the last year is $98.43.

A number of analysts have recently weighed in on the company. Robert W. Baird assumed coverage on Ross Stores in a research note on Monday, May 13th. They issued an “outperform” rating and a $108.00 target price for the company. BidaskClub upgraded Ross Stores from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, August 7th. Zacks Investment Research upgraded Ross Stores from a “sell” rating to a “hold” rating in a research note on Monday, May 13th. Telsey Advisory Group lowered Ross Stores from an “outperform” rating to a “market perform” rating and set a $103.00 target price for the company. in a research note on Monday, June 24th. Finally, Goldman Sachs Group lowered Ross Stores from a “neutral” rating to a “sell” rating and lowered their target price for the company from $102.00 to $91.00 in a research note on Thursday, June 27th.

In related news, insider James S. Fassio sold 85,238 shares of the firm’s stock in a transaction dated Friday, July 12th. The stock was sold at an average price of $104.85, for a total value of $8,937,204.30. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Chairman Michael Balmuth sold 81,049 shares of the firm’s stock in a transaction dated Friday, May 31st. The shares were sold at an average price of $92.87, for a total value of $7,527,020.63. The disclosure for this sale can be found here. In the last quarter, insiders sold 296,287 shares of company stock worth $29,806,735. 2.30% of the stock is owned by company insiders.

A number of institutional investors and hedge funds have recently modified their holdings of ROST. Accident Compensation Corp bought a new position in shares of Ross Stores during the 1st quarter valued at about $205,000. Trellis Advisors LLC bought a new position in shares of Ross Stores during the 1st quarter valued at about $218,000. Ballentine Partners LLC lifted its holdings in shares of Ross Stores by 9.7% during the 2nd quarter. Ballentine Partners LLC now owns 7,091 shares of the apparel retailer’s stock valued at $702,000 after purchasing an additional 629 shares in the last quarter. State of Alaska Department of Revenue lifted its holdings in shares of Ross Stores by 1.3% during the 1st quarter. State of Alaska Department of Revenue now owns 180,979 shares of the apparel retailer’s stock valued at $16,848,000 after purchasing an additional 2,324 shares in the last quarter. Finally, First Trust Advisors LP lifted its holdings in shares of Ross Stores by 83.6% during the 2nd quarter. First Trust Advisors LP now owns 842,895 shares of the apparel retailer’s stock valued at $83,548,000 after purchasing an additional 383,891 shares in the last quarter. Hedge funds and other institutional investors own 89.62% of the company’s stock.

Shares of NASDAQ:ROST traded up $3.16 during midday trading on Tuesday, reaching $106.44. The company’s stock had a trading volume of 1,448,786 shares, compared to its average volume of 2,265,751. Ross Stores has a fifty-two week low of $75.91 and a fifty-two week high of $108.20. The company has a market capitalization of $38.48 billion, a P/E ratio of 24.99, a P/E/G ratio of 2.25 and a beta of 0.89. The company has a quick ratio of 0.64, a current ratio of 1.34 and a debt-to-equity ratio of 0.87. The stock’s fifty day simple moving average is $103.93.

Ross Stores (NASDAQ:ROST) last announced its earnings results on Thursday, May 23rd. The apparel retailer reported $1.13 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.12 by $0.01. Ross Stores had a return on equity of 48.92% and a net margin of 10.47%. The company had revenue of $3.80 billion during the quarter, compared to analyst estimates of $3.79 billion. During the same period last year, the company posted $1.11 earnings per share. The firm’s quarterly revenue was up 5.8% compared to the same quarter last year. Equities analysts predict that Ross Stores will post 4.51 earnings per share for the current year.

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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