Jefferies Group LLC Reaffirms “Hold” Rating for Ross Stores, Inc. (ROST)

Ross Stores, Inc. (NASDAQ:ROST)‘s stock had its “hold” rating reissued by stock analysts at Jefferies Group LLC in a research note issued on Tuesday. They presently have a $63.00 price target on the apparel retailer’s stock. Jefferies Group LLC’s target price indicates a potential upside of 6.29% from the stock’s current price.

Several other research firms also recently commented on ROST. Zacks Investment Research upgraded shares of Ross Stores from a “hold” rating to a “buy” rating and set a $60.00 price target for the company in a research report on Monday, August 21st. Royal Bank Of Canada set a $70.00 price target on shares of Ross Stores and gave the company a “hold” rating in a research report on Monday, May 15th. Instinet reiterated a “buy” rating and issued a $74.00 price target on shares of Ross Stores in a research report on Sunday, August 20th. Telsey Advisory Group upgraded shares of Ross Stores from a “market perform” rating to an “outperform” rating and set a $70.00 price target for the company in a research report on Friday, July 14th. They noted that the move was a valuation call. Finally, UBS AG reduced 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. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and twelve have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $69.61.

Shares of Ross Stores (NASDAQ:ROST) opened at 59.27 on Tuesday. The firm has a market cap of $22.70 billion, a price-to-earnings ratio of 19.57 and a beta of 1.09. Ross Stores has a 52-week low of $52.85 and a 52-week high of $69.81. The company’s 50-day moving average is $56.58 and its 200 day moving average is $61.08.

Ross Stores (NASDAQ:ROST) last released its quarterly earnings results on Thursday, August 17th. The apparel retailer reported $0.82 EPS for the quarter, beating the consensus estimate of $0.77 by $0.05. Ross Stores had a net margin of 8.87% and a return on equity of 42.95%. The firm had revenue of $3.43 billion during the quarter, compared to the consensus estimate of $3.37 billion. During the same quarter in the prior year, the firm earned $0.71 EPS. Ross Stores’s revenue for the quarter was up 7.9% on a year-over-year basis. On average, analysts expect that Ross Stores will post $3.23 earnings per share for the current fiscal year.

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Institutional investors and hedge funds have recently made changes to their positions in the company. Guardian Life Insurance Co. of America grew its stake in Ross Stores by 0.7% in the 1st quarter. Guardian Life Insurance Co. of America now owns 1,529 shares of the apparel retailer’s stock valued at $101,000 after acquiring an additional 10 shares during the last quarter. Balentine LLC grew its stake 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 acquiring an additional 5 shares during the last quarter. TrimTabs Asset Management LLC grew its stake in Ross Stores by 89.2% in the 1st quarter. TrimTabs Asset Management LLC now owns 1,646 shares of the apparel retailer’s stock valued at $108,000 after acquiring an additional 776 shares during the last quarter. Parkside Financial Bank & Trust grew its stake 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 acquiring an additional 61 shares during the last quarter. Finally, Parallel Advisors LLC grew its stake in Ross Stores by 39.1% in the 1st quarter. Parallel Advisors LLC now owns 1,701 shares of the apparel retailer’s stock valued at $111,000 after acquiring an additional 478 shares during the last quarter. Institutional investors and hedge funds own 89.62% 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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