Ross Stores Receives a Hold from Credit SuisseBy Austin Angelo
Credit Suisse analyst Michael Exstein reiterated a Hold rating on Ross Stores (NASDAQ: ROST) yesterday and set a price target of $60. The company’s shares opened today at $67.72, close to its 52-week high of $68.84.
“We raise FY16 EPS estimate to $2.82 from $2.76, and raise FY17E EPS estimate to $3.10 from $3.03.”
According to TipRanks.com, Exstein is a 4-star analyst with an average return of 5.0% and a 57.9% success rate. Exstein covers the Services sector, focusing on stocks such as The Bon-Ton Stores, Burlington Stores, and Wal-Mart Stores.
Currently, the analyst consensus on Ross Stores is Moderate Buy and the average price target is $66.50, representing a -1.8% downside.
In a report released yesterday, BMO Capital also reiterated a Hold rating on the stock.
The company has a one year high of $68.84 and a one year low of $49.06. Currently, Ross Stores has an average volume of 2.56M.
Based on the recent corporate insider activity of 71 insiders, corporate insider sentiment is negative on the stock. Last month, Gregory Quesnel, a Director at ROST sold 16,000 shares for a total of $1,030,080.
Ross Stores, Inc. engages in the operation of off price retail apparel and home accessories stores. The company offers branded and designer apparel, accessories, footwear and home fashions. It operates through the Dress for Less and dd’s DISCOUNTS brands. The company was founded by Stuart G. Moldaw in 1957 and is headquartered in Dublin, CA.