UBS AG restated their buy rating on shares of Ross Stores (NASDAQ:ROST) in a report released on Tuesday, Stock Ratings News reports. UBS AG currently has a $90.00 price objective on the stock, up from their previous price objective of $80.00.
“On the back of TJX’ strong results and bullish tone as it relates to current performance and product availability, we expect ROST to also benefit. Our 3Q EPS estimate is $0.81 (vs. Street’s $0.80) based on a 4% comp, gross margin -10 bps, and SG&A ~flattish. We came away from mgmt meetings in Sept believing that QTD trends were positive, and Kantar survey data suggests customer traffic rose in Oct. We see the first opportunity for a comp inflection in home in 4Q, which could impact more than the 25% of sales that it represents. ROST is also well-positioned for 4Q given strong packaways (from LY’s warm winter). Lastly, Kantar survey data indicates that shoppers are planning to spend more at ROST in November vs. LY. The shorter holiday calendar is a wildcard, but not necessarily a negative.,” the firm’s analyst commented.
UBS AG has also taken action a number of other consumer discretionary stocks recently. The firm reiterated its buy rating on shares of TJX Cos.. They have a $73.00 price target on that stock, up previously from $66.00. Also, UBS AG reiterated its buy rating on shares of Dick’s Sporting Goods Inc.. They have a $64.00 price target on that stock, up previously from $59.00. Finally, UBS AG reiterated its buy rating on shares of Foot Locker Inc. They have a $39.00 price target on that stock.
ROST has been the subject of a number of other recent research reports. Analysts at Telsey Advisory Group raised their price target on shares of Ross Stores from $74.00 to $83.00 in a research note to investors on Tuesday. They now have a not rated rating on the stock. Separately, analysts at Maxim Group downgraded shares of Ross Stores from a buy rating to a hold rating in a research note to investors on Monday, November 4th. They noted that the move was a valuation call. Finally, analysts at Goldman Sachs Group Inc. upgraded shares of Ross Stores from a buy rating to a conviction-buy rating in a research note to investors on Wednesday, September 25th. They now have a $83.00 price target on the stock. Ten equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. Ross Stores has an average rating of Buy and an average price target of $73.35.
Ross Stores (NASDAQ:ROST) traded up 0.58% on Tuesday, hitting $81.42. 633,144 shares of the company’s stock traded hands. Ross Stores has a one year low of $52.01 and a one year high of $81.99. The stock has a 50-day moving average of $75.90 and a 200-day moving average of $69.29. The company has a market cap of $17.642 billion and a P/E ratio of 21.04.
Ross Stores (NASDAQ:ROST) last released its earnings data on Thursday, August 22nd. The company reported $0.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.93 by $0.05. The company had revenue of $2.55 billion for the quarter, compared to the consensus estimate of $2.52 million. During the same quarter in the previous year, the company posted $0.81 earnings per share. The company’s revenue for the quarter was up 9.0% on a year-over-year basis. Analysts expect that Ross Stores will post $3.94 EPS 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 0.84%.
Ross Stores, Inc, along with its subsidiaries, operates two brands of off-price retail apparel and home fashion stores.
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