AFTER HOURS: Clothes retailers Ross Stores and Gap in demand

by Frankie Norman August 19, 2017, 1:00
AFTER HOURS: Clothes retailers Ross Stores and Gap in demand

Ross Stores, Inc. had its "outperform" rating reiterated by analysts at Cowen.

Yesterday prior to earnings I pointed out that ROST was a golden opportunity while selling near 52-week due nearly entirely to sentiment rather than deteriorating fundamentals and that analysts and top investors were bullish on the company's shares. The firm purchased 20,429 shares of the apparel retailer's stock, valued at approximately $1,179,000.

Other large investors have also recently modified their holdings of the company. Flossbach Von Storch AG boosted its stake in Ross Stores by 7,335.3% in the second quarter. The Sadoff Investment Management Llc holds 610,283 shares with $36.27M value, up from 599,979 last quarter. For the quarter, shares are performing at -12.67%. About shares traded. Ross Stores, Inc. Mechanics Savings Bank Tru Department holds 1.15% of its portfolio in Ross Stores, Inc. Cullen Frost Bankers Inc. raised its position in Ross Stores by 0.8% in the first quarter. This recommendation lands on a scale between 1 and 5. Finally, Parkside Financial Bank & Trust raised its position in Ross Stores by 3.4% in the second quarter. BlackRock Inc. now owns 26,454,293 shares of the apparel retailer's stock worth $1,742,545,000 after buying an additional 25,137,186 shares during the last quarter. Moreover, Marshfield Associates has 4.08% invested in the company for 814,368 shares.

08/02/2017 - Ross Stores, Inc. had its "neutral" rating reiterated by analysts at Credit Suisse. When shares open up for trading on Friday they will likely open in the $60 area-and, depending on the liquidity and demand, shares can accelerate much higher, level off, or even drift lower if profit-taking ensues.

It is now trading at $59.03 quite a bit above the 50 day moving average of $55.13 and which is significantly below the 200 day moving average of $62.15.

The complaint filed in this class action alleges that the Company made false and/or misleading statements and/or failed to disclose that: (1) the Company was improperly recognizing revenue; (2) the Company's disclosure controls and procedures were not effective; (3) the Company's internal control over financial reporting were not effective; and (4) as a result, the Company's public statements were materially false and misleading at all relevant times.

05/19/2017 - Ross Stores, Inc. had its "overweight" rating reiterated by analysts at Morgan Stanley. This is an increase of 1,039% compared to the typical daily volume of 1,066 call options. The dividend payment was $0.160 per share for the quarter which is $0.64 annualized. Ross Stores had a net margin of 8.77% and a return on equity of 42.56%. Ross reported second quarter revenues of $3.43 billion which beat analyst expectations of $3.37 billion. Comparable-store sales were up 4% on top of 4% growth previous year, the company said in a statement.

The P/E ratio is now 20.21 and market cap is 22.95B. Shareholders of record on Thursday, September 7th will be issued a $0.16 dividend. (NASDAQ:ROST). Prelude Capital Limited Liability Corporation reported 0.09% in Ross Stores, Inc. "(ROST)" was reported by BBNS and is the sole property of of BBNS. If you are reading this news story on another domain, it was stolen and republished in violation of USA & global trademark and copyright laws. (NASDAQ:ROST) for 5,068 shares. Finally, BMO Capital Markets set a $65.00 target price on Ross Stores and gave the stock a "hold" rating in a research report on Thursday, July 6th. Buckingham Research upgraded the shares of ROST in report on Monday, August 24 to "Neutral" rating. (NYSE:C), 17 have Buy rating, 3 Sell and 12 Hold. The stock carved out a 52-week low down at $52.85. With the last stock price close down -6.34% relative to the two hundred day average, compared with the S&P 500 Index which has increased 0.05% over the date range. Following the completion of the transaction, the director now directly owns 4,967 shares of the company's stock, valued at $314,063.41.

Ross Stores, Inc., together with its subsidiaries, operates off-price retail apparel and home fashion stores under the Ross Dress for Less and dds DISCOUNTS brand names in the United States. It is positive, as 54 investors sold C shares while 430 reduced holdings.

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