Discount apparel retailer Ross Stores, Inc. (
) on Monday caught some continued bullish sentiment from analysts
at Crowell, Weedon & Co.
The firm maintained its "Buy" rating on ROST while lifting its
price target to $68.00. That new target suggests a 10% upside to
the stock's Friday closing price of $61.59.
A Crowell Weedon analyst commented, "Ross reported excellent
first quarter results, driven in large part, by better than
expected same store sales (
) growth of 9%. Increased inventory turns and expense leverage
drove a 70 basis point improvement in the company's operating
margin. Management raised its earnings outlook for the year to a
range of $3.26-$3.37, up from previous guidance of $3.12-$3.26.
Additionally, the company increased its forecast of total potential
store locations to 2,500, up from 2,000. We have increased our
earnings outlook for the year to $3.35 and raised our price target
on ROST shares to $68."
Ross shares were mostly flat in late morning trading Monday.
The Bottom Line
Shares of Ross Stores (
) have a .91% dividend yield, based on Friday's closing stock price
of $61.59. The stock has technical support in the $55-$56 price
area. The stock is trading near the all-time high range of $63-$64
Ross Stores, Inc. (
) is not recommended at this time, holding a Dividend.com DARS™
Rating of 3.4 out of 5 stars.
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, as well as a detailed explanation of
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