BidaskClub Lowers Ross Stores (ROST) to Buy

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BidaskClub downgraded shares of Ross Stores (NASDAQ:ROST) from a strong-buy rating to a buy rating in a report released on Friday morning.

Other analysts have also recently issued research reports about the stock. Zacks Investment Research cut shares of Ross Stores from a buy rating to a hold rating in a research note on Monday, July 23rd. Citigroup lifted their price objective on shares of Ross Stores from $83.00 to $89.00 and gave the stock a neutral rating in a research note on Tuesday, July 31st. Cowen set a $101.00 price objective on shares of Ross Stores and gave the stock a buy rating in a research note on Monday, July 30th. Nomura lifted their price objective on shares of Ross Stores from $90.00 to $95.00 and gave the stock a buy rating in a research note on Friday, August 24th. Finally, Telsey Advisory Group lifted their price objective on shares of Ross Stores from $98.00 to $105.00 and gave the stock an outperform rating in a research note on Friday, August 24th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and eighteen have issued a buy rating to the company’s stock. The company presently has a consensus rating of Buy and an average price target of $96.04.

Ross Stores stock traded up $0.86 during midday trading on Friday, hitting $100.89. The company’s stock had a trading volume of 73,536 shares, compared to its average volume of 2,656,265. Ross Stores has a 1-year low of $62.85 and a 1-year high of $101.20. The company has a quick ratio of 0.85, a current ratio of 1.71 and a debt-to-equity ratio of 0.10. The stock has a market capitalization of $37.35 billion, a price-to-earnings ratio of 30.28, a price-to-earnings-growth ratio of 2.43 and a beta of 0.98.

Ross Stores (NASDAQ:ROST) last issued its quarterly earnings data on Thursday, August 23rd. The apparel retailer reported $1.04 earnings per share for the quarter, topping the consensus estimate of $1.01 by $0.03. Ross Stores had a net margin of 10.41% and a return on equity of 47.56%. The business had revenue of $3.74 billion during the quarter, compared to analysts’ expectations of $3.66 billion. During the same quarter in the previous year, the company earned $0.82 EPS. The business’s revenue was up 8.9% on a year-over-year basis. On average, sell-side analysts anticipate that Ross Stores will post 4.12 earnings per share for the current fiscal year.

In related news, Director Norman A. Ferber sold 10,144 shares of Ross Stores stock in a transaction that occurred on Monday, August 27th. The shares were sold at an average price of $94.90, for a total transaction of $962,665.60. Following the sale, the director now directly owns 25,127 shares of the company’s stock, valued at approximately $2,384,552.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Barbara Rentler sold 20,000 shares of Ross Stores stock in a transaction that occurred on Friday, October 12th. The shares were sold at an average price of $95.15, for a total transaction of $1,903,000.00. The disclosure for this sale can be found here. Insiders own 2.40% of the company’s stock.

Several institutional investors have recently made changes to their positions in ROST. Dorsey Wright & Associates grew its holdings in shares of Ross Stores by 9.1% during the 2nd quarter. Dorsey Wright & Associates now owns 36,527 shares of the apparel retailer’s stock valued at $3,096,000 after purchasing an additional 3,044 shares during the last quarter. DnB Asset Management AS grew its holdings in Ross Stores by 4.0% during the 2nd quarter. DnB Asset Management AS now owns 46,980 shares of the apparel retailer’s stock worth $3,982,000 after acquiring an additional 1,800 shares during the last quarter. Clinton Group Inc. bought a new stake in Ross Stores during the 2nd quarter worth approximately $300,000. IFM Investors Pty Ltd grew its holdings in Ross Stores by 41.9% during the 2nd quarter. IFM Investors Pty Ltd now owns 17,288 shares of the apparel retailer’s stock worth $1,465,000 after acquiring an additional 5,106 shares during the last quarter. Finally, Cullinan Associates Inc. grew its holdings in Ross Stores by 119.2% during the 2nd quarter. Cullinan Associates Inc. now owns 21,700 shares of the apparel retailer’s stock worth $1,839,000 after acquiring an additional 11,800 shares during the last quarter. 88.33% of the stock is currently owned by institutional investors.

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 in the United States. It 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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