Ross Stores, Inc. (ROST) Stock Rating Reaffirmed by Credit Suisse Group

Credit Suisse Group reaffirmed their neutral rating on shares of Ross Stores, Inc. (NASDAQ:ROST) in a report published on Tuesday. They currently have a $64.00 target price on the apparel retailer’s stock, down from their prior target price of $70.00.

Several other equities research analysts have also recently issued reports on ROST. BidaskClub raised shares of Ross Stores from a strong sell rating to a sell rating in a research note on Monday, July 31st. Zacks Investment Research cut shares of Ross Stores from a buy rating to a hold rating in a research note on Tuesday. BMO Capital Markets set a $65.00 price target on shares of Ross Stores and gave the stock a hold rating in a research note on Friday, May 19th. William Blair reaffirmed an outperform rating on shares of Ross Stores in a research note on Monday, May 22nd. Finally, Royal Bank Of Canada set a $70.00 price target on shares of Ross Stores and gave the stock a hold rating in a research note on Monday, May 15th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and fourteen have issued a buy rating to the company. The company currently has a consensus rating of Hold and a consensus target price of $69.41.

Ross Stores (ROST) traded up 1.39% during trading on Tuesday, reaching $55.56. 2,593,760 shares of the company were exchanged. The firm has a market capitalization of $21.62 billion, a PE ratio of 19.03 and a beta of 1.10. The stock has a 50 day moving average price of $55.47 and a 200 day moving average price of $62.49. Ross Stores has a 12 month low of $52.91 and a 12 month high of $69.81.

Ross Stores (NASDAQ:ROST) last released its quarterly earnings results on Thursday, May 18th. The apparel retailer reported $0.82 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.80 by $0.02. Ross Stores had a net margin of 8.77% and a return on equity of 42.56%. The company had revenue of $3.31 billion for the quarter, compared to analysts’ expectations of $3.27 billion. During the same period last year, the company earned $0.73 EPS. The firm’s revenue for the quarter was up 7.0% compared to the same quarter last year. On average, analysts expect that Ross Stores will post $3.16 EPS for the current fiscal year.

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In related news, Director Sharon D. Garrett sold 16,130 shares of Ross Stores stock in a transaction on Friday, May 26th. The shares were sold at an average price of $63.23, for a total value of $1,019,899.90. Following the completion of the sale, the director now owns 4,967 shares in the company, valued at $314,063.41. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 2.30% of the stock is currently owned by insiders.

Hedge funds have recently modified their holdings of the company. Guardian Life Insurance Co. of America increased its position in Ross Stores by 0.7% in the first quarter. Guardian Life Insurance Co. of America now owns 1,529 shares of the apparel retailer’s stock worth $101,000 after buying an additional 10 shares in the last quarter. Alps Advisors Inc. increased its position in Ross Stores by 0.3% in the second quarter. Alps Advisors Inc. now owns 7,118 shares of the apparel retailer’s stock worth $411,000 after buying an additional 19 shares in the last quarter. Alpha Windward LLC increased its position in Ross Stores by 0.8% in the first quarter. Alpha Windward LLC now owns 2,974 shares of the apparel retailer’s stock worth $196,000 after buying an additional 23 shares in the last quarter. First Heartland Consultants Inc. increased its position in Ross Stores by 0.6% in the second quarter. First Heartland Consultants Inc. now owns 6,136 shares of the apparel retailer’s stock worth $354,000 after buying an additional 34 shares in the last quarter. Finally, Cullen Frost Bankers Inc. increased its position in Ross Stores by 0.8% in the first quarter. Cullen Frost Bankers Inc. now owns 5,141 shares of the apparel retailer’s stock worth $339,000 after buying an additional 41 shares in the last quarter. Institutional investors and hedge funds own 91.37% of the company’s stock.

About Ross Stores

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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