Ross Stores, Inc. (ROST) PT Set at $62.00 by Royal Bank Of Canada

Ross Stores, Inc. (NASDAQ:ROST) has been assigned a $62.00 price target by research analysts at Royal Bank Of Canada in a report released on Monday, October 30th. The firm currently has a “hold” rating on the apparel retailer’s stock. Royal Bank Of Canada’s price target suggests a potential downside of 14.19% from the stock’s current price.

A number of other brokerages also recently commented on ROST. Zacks Investment Research raised shares of Ross Stores from a “hold” rating to a “buy” rating and set a $60.00 target price on the stock in a research note on Monday, August 21st. Buckingham Research reiterated a “neutral” rating and set a $71.00 price target on shares of Ross Stores in a research report on Thursday, October 19th. Instinet reiterated a “buy” rating and set a $74.00 price target on shares of Ross Stores in a research report on Sunday, August 20th. UBS AG dropped their price target on shares of Ross Stores from $70.00 to $64.00 and set a “neutral” rating for the company in a research report on Friday, August 18th. Finally, Telsey Advisory Group upgraded shares of Ross Stores from a “market perform” rating to an “outperform” rating and set a $70.00 price objective for the company in a report on Friday, July 14th. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and fifteen have issued a buy rating to the company. Ross Stores has a consensus rating of “Buy” and a consensus target price of $72.48.

Ross Stores (NASDAQ:ROST) opened at $72.25 on Monday. The company has a current ratio of 1.64, a quick ratio of 0.76 and a debt-to-equity ratio of 0.14. The stock has a market cap of $27,859.02, a price-to-earnings ratio of 23.08, a price-to-earnings-growth ratio of 2.24 and a beta of 1.10. Ross Stores has a twelve month low of $52.85 and a twelve month high of $73.94.

Ross Stores (NASDAQ:ROST) last posted its quarterly earnings results on Thursday, November 16th. The apparel retailer reported $0.72 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.67 by $0.05. The firm had revenue of $3.33 billion for the quarter, compared to the consensus estimate of $3.26 billion. Ross Stores had a net margin of 8.93% and a return on equity of 43.48%. The company’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same period last year, the firm posted $0.62 earnings per share. equities research analysts predict that Ross Stores will post 3.28 EPS for the current year.

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In related news, insider Brian R. Morrow sold 6,157 shares of the stock in a transaction dated Wednesday, October 4th. The shares were sold at an average price of $65.30, for a total value of $402,052.10. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Barbara Rentler sold 15,492 shares of the stock in a transaction dated Tuesday, September 12th. The shares were sold at an average price of $61.00, for a total transaction of $945,012.00. The disclosure for this sale can be found here. 2.30% of the stock is currently owned by corporate insiders.

A number of large investors have recently added to or reduced their stakes in the business. Balentine LLC lifted its holdings in Ross Stores by 0.3% in the 2nd quarter. Balentine LLC now owns 1,775 shares of the apparel retailer’s stock valued at $102,000 after purchasing an additional 5 shares in the last quarter. Alps Advisors Inc. lifted its holdings in Ross Stores by 0.3% in the 2nd quarter. Alps Advisors Inc. now owns 7,118 shares of the apparel retailer’s stock valued at $411,000 after purchasing an additional 19 shares in the last quarter. First Heartland Consultants Inc. lifted its holdings in Ross Stores by 0.6% in the 2nd quarter. First Heartland Consultants Inc. now owns 6,136 shares of the apparel retailer’s stock valued at $354,000 after purchasing an additional 34 shares in the last quarter. Parkside Financial Bank & Trust lifted its holdings in Ross Stores by 3.4% in the 2nd quarter. Parkside Financial Bank & Trust now owns 1,868 shares of the apparel retailer’s stock valued at $108,000 after purchasing an additional 61 shares in the last quarter. Finally, New Amsterdam Partners LLC NY lifted its holdings in Ross Stores by 0.8% in the 2nd quarter. New Amsterdam Partners LLC NY now owns 8,375 shares of the apparel retailer’s stock valued at $483,000 after purchasing an additional 64 shares in the last quarter. Institutional investors own 90.51% of the company’s stock.

Ross Stores Company Profile

Ross Stores, Inc and its subsidiaries operate two brands of off-price retail apparel and home fashion stores-Ross Dress for Less (Ross) and dd’s DISCOUNTS. The Company is the off-price apparel and home fashion chain in the United States, with 1,340 locations in 36 states, the District of Columbia and Guam, as of January 28, 2017.

Analyst Recommendations for Ross Stores (NASDAQ:ROST)

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