Ross Stores (NASDAQ:ROST) PT Lowered to $85.00

Ross Stores (NASDAQ:ROSTGet Rating) had its price target lowered by equities researchers at Barclays from $119.00 to $85.00 in a note issued to investors on Monday, The Fly reports. Barclays‘s target price would indicate a potential upside of 18.27% from the company’s current price.

Other equities analysts also recently issued reports about the company. Deutsche Bank Aktiengesellschaft upped their price target on Ross Stores from $122.00 to $123.00 in a research report on Monday, May 16th. Gordon Haskett lowered shares of Ross Stores from an “accumulate” rating to a “hold” rating and lowered their target price for the stock from $130.00 to $106.00 in a research note on Thursday, February 10th. OTR Global lowered shares of Ross Stores to a “positive” rating in a research note on Wednesday, May 4th. Citigroup decreased their price target on shares of Ross Stores from $125.00 to $100.00 and set a “buy” rating on the stock in a research note on Friday. Finally, StockNews.com initiated coverage on shares of Ross Stores in a report on Thursday, March 31st. They issued a “hold” rating for the company. Six analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $102.73.

Shares of ROST opened at $71.87 on Monday. The company has a market cap of $25.25 billion, a price-to-earnings ratio of 16.01, a P/E/G ratio of 1.84 and a beta of 0.92. Ross Stores has a 12 month low of $69.75 and a 12 month high of $127.58. The company has a current ratio of 1.77, a quick ratio of 1.24 and a debt-to-equity ratio of 0.60. The business’s fifty day simple moving average is $95.92 and its two-hundred day simple moving average is $100.93.

Ross Stores (NASDAQ:ROSTGet Rating) last issued its earnings results on Thursday, May 19th. The apparel retailer reported $0.97 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.00 by ($0.03). Ross Stores had a return on equity of 39.79% and a net margin of 8.46%. The firm had revenue of $4.33 billion during the quarter, compared to the consensus estimate of $4.54 billion. During the same period last year, the firm posted $1.34 earnings per share. The company’s revenue for the quarter was down 4.1% compared to the same quarter last year. As a group, research analysts forecast that Ross Stores will post 5.04 EPS for the current year.

Ross Stores announced that its board has authorized a share buyback plan on Tuesday, March 1st that permits the company to buyback $1.90 billion in shares. This buyback authorization permits the apparel retailer to repurchase up to 6% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its shares are undervalued.

A number of hedge funds have recently made changes to their positions in ROST. Equitec Proprietary Markets LLC acquired a new position in shares of Ross Stores in the 4th quarter valued at about $26,000. Zullo Investment Group Inc. bought a new stake in Ross Stores in the 4th quarter valued at about $30,000. Riverview Trust Co bought a new stake in Ross Stores in the 1st quarter valued at about $31,000. Kozak & Associates Inc. bought a new stake in shares of Ross Stores in the 3rd quarter worth approximately $45,000. Finally, Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of Ross Stores in the 3rd quarter worth approximately $46,000. 87.02% of the stock is owned by institutional investors.

Ross Stores Company Profile (Get Rating)

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 brand names. Its stores primarily offer 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 for households with moderate income.

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