Ross Stores (ROST) is Resumed by Guggenheim to Buy

Ross Stores (ROST) was Resumed by Guggenheim to “Buy”. Guggenheim advised their investors in a research report released on Sep 30, 2016.

Many Wall Street Analysts have commented on Ross Stores. Company shares were Reiterated by RBC Capital Mkts on Aug 19, 2016 to “Sector Perform”, Firm has raised the Price Target to $ 65 from a previous price target of $56 .Company shares were Reiterated by Wedbush on Aug 19, 2016 to “Outperform”, Firm has raised the Price Target to $ 67 from a previous price target of $65 .

On the company’s financial health, Ross Stores reported $0.71 EPS for the quarter, beating the analyst consensus estimate by $ 0.04 according to the earnings call on Aug 18, 2016. Analyst had a consensus of $0.67. The company had revenue of $3180.92 million for the quarter, compared to analysts expectations of $3128.94 million. The company’s revenue was up 7.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.63 EPS.

Ross Stores opened for trading at $63.64 and hit $64.6 on the upside on Tuesday, eventually ending the session at $64.39, with a gain of 0.99% or 0.63 points. The heightened volatility saw the trading volume jump to 22,00,689 shares. Company has a market cap of $25,536 M.

In a different news, on Sep 26, 2016, James S Fassio (President, Chief Dev. Officer) sold 12,000 shares at $63.35 per share price. According to the SEC, on Sep 26, 2016, Barbara Rentler (Chief Executive Officer) sold 12,840 shares at $63.76 per share price. On Jul 12, 2016, George Orban (director) sold 56,000 shares at $57.48 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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