Ross Stores (ROST) Received its Third Buy in a Row
After Morgan Stanley and D.A. Davidson gave Ross Stores (NASDAQ: ROST) a Buy rating last month, the company received another Buy, this time from Merrill Lynch. Analyst Lorraine Hutchinson reiterated a Buy rating on Ross Stores today and set a price target of $110.00. The company’s shares closed last Friday at $94.41.
According to TipRanks.com, Hutchinson is a 4-star analyst with an average return of 3.1% and a 51.4% success rate. Hutchinson covers the Consumer Goods sector, focusing on stocks such as Urban Outfitters, Signet Jewelers, and TJX Companies.
Currently, the analyst consensus on Ross Stores is a Strong Buy with an average price target of $105.87, representing a 13.9% upside. In a report issued on May 15, RBC Capital also maintained a Buy rating on the stock with a $90.00 price target.
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The company has a one-year high of $124.16 and a one-year low of $56.30. Currently, Ross Stores has an average volume of 3.84M.
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Ross Stores, Inc. engages in the operation of off-price retail apparel and home accessories stores. Its products include branded and designer apparel, accessories, footwear, and home fashions 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.