Credit Suisse downgraded shares of Ross Stores (NASDAQ:ROST) from an outperform rating to a neutral rating in a report issued on Wednesday, TheFlyOnTheWall.com reports. They currently have $75.00 target price on the stock.
“We continue to view ROST as a great economic business model that happens to be a retailer, and we see no structural change to the business that makes it less attractive going forward. That said, valuation is to the point where it is difficult for us to be constructive on the name in the short term given ROST’s decelerating EPS, and we believe investors are now paying a premium for growth in both square footage and EPS. Since January, ROST shares have benefited from two events: (1) concerns about December monthly sales comparisons with TJMaxx, which came in inline, and (2) more recently, the favoring of off-price over traditional department stores that began to take place at the end of June. Neither event is likely to reoccur, making further outperformance more difficult. With this in mind, we maintain our target price of $75 and downgrade to NEUTRAL.,” Credit Suisse’s analyst wrote.
ROST has been the subject of a number of other recent research reports. Analysts at Goldman Sachs Group Inc. reiterated a conviction-buy rating on shares of Ross Stores in a research note to investors on Friday, November 22nd. Separately, analysts at Deutsche Bank reiterated a buy rating on shares of Ross Stores in a research note to investors on Friday, November 22nd. They now have a $81.00 price target on the stock, up previously from $77.00. Finally, analysts at Cowen and Company cut their price target on shares of Ross Stores from $85.00 to $80.00 in a research note to investors on Friday, November 22nd. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. Ross Stores has a consensus rating of Buy and a consensus price target of $74.76.
Ross Stores (NASDAQ:ROST) opened at 72.68 on Wednesday. Ross Stores has a 1-year low of $52.01 and a 1-year high of $81.99. The stock has a 50-day moving average of $77.02 and a 200-day moving average of $70.05. The company has a market cap of $15.407 billion and a price-to-earnings ratio of 18.62.
Ross Stores (NASDAQ:ROST) last released its earnings data on Thursday, November 21st. The company reported $0.80 EPS for the quarter, meeting the Thomson Reuters consensus estimate of $0.80. The company had revenue of $2.40 billion for the quarter, compared to the consensus estimate of $2.42 billion. During the same quarter in the prior year, the company posted $0.72 earnings per share. The company’s quarterly revenue was up 6.0% on a year-over-year basis. On average, analysts predict that Ross Stores will post $3.88 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Tuesday, December 31st. Investors of record on Wednesday, December 11th will be given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 0.94%. The ex-dividend date of this dividend is Monday, December 9th.
Ross Stores, Inc, along with its subsidiaries, operates two brands of off-price retail apparel and home fashion stores.
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