Ross Stores (ROST) is Reiterated by Wedbush to Outperform, Lowers Price Target to $ 62

Ross Stores (ROST) was Reiterated by Wedbush to “Outperform” while Lowering the Price Target of the company shares to $ 62 from a previous price target of $63 . Wedbush advised their investors in a research report released on May 20, 2016.

Many Wall Street Analysts have commented on Ross Stores. Ross Stores was Downgraded by Piper Jaffray to ” Underweight” on May 11, 2016. Ross Stores was Downgraded by Goldman to ” Neutral” on Mar 9, 2016. Company shares were Reiterated by Telsey Advisory Group on Mar 2, 2016 to “Market Perform”, Firm has raised the Price Target to $ 60 from a previous price target of $55 .

On the company’s financial health, Ross Stores reported $0.73 EPS for the quarter, based on the information available during the earnings call on May 19, 2016. Analyst had a consensus estimate of $0.73. The company had revenue of $3089.00 million for the quarter, compared to analysts expectations of $3115.64 million. The company’s revenue was up 5.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.33 EPS.

Ross Stores opened for trading at $54.63 and hit $55.86 on the upside on Thursday, eventually ending the session at $55.52, with a gain of 2.23% or 1.21 points. The heightened volatility saw the trading volume jump to 55,64,905 shares. Company has a market cap of $22,279 M.

In a different news, on Apr 4, 2016, Michael J. Hartshorn (Group S.V.P., CFO) sold 862 shares at $58.16 per share price. According to the SEC, on Apr 4, 2016, Barbara Rentler (Chief Executive Officer) sold 40,000 shares at $58.38 per share price. On Mar 30, 2016, Bernard G. Brautigan (President, Merchandising) sold 2,617 shares at $57.57 per share price, according to the Form-4 filing with the securities and exchange commission.

Ross Stores Inc. is an off-price retailer of name brand and designer apparel accessories footwear and home fashions for the entire family. The Company operates two brands of off-price retail apparel and home fashion stores Ross Dress for Less (Ross) and dd’s DISCOUNTS. As of December 31 2014 the Company operated 1210 Ross locations in 33 states the District of Columbia and Guam and 152 dd’s DISCOUNTS stores in 15 states. The Ross and dd’s DISCOUNTS stores are supported by five distribution centers. The Ross brand stores offers its products at savings of 20% to 60% off department and specialty store regular prices every day. Ross’ target customers are primarily from middle income households. The dd’s DISCOUNTS stores offers its products at savings of 20% to 70% off moderate department and discount store regular prices every day. Its target customers typically come from households with moderate incomes.

Ross Stores

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