A statement released earlier today by Wolfe Research about Ross Stores Inc. (NDAQ:ROST) bumps down the target price to $73.00

Yesterday Ross Stores Inc. (NDAQ:ROST) traded 10.67% higher at $59.02. The company’s 50-day moving average is $55.18 and its 200-day moving average is $62.10. The last stock close price is down -4.96% from the 200-day moving average, compared to the S&P 500 which has increased 0.05% over the same time. 14,140,321 shares of the stock were exchanged, up from an average trading volume of 3,810,020

Reporting a potential upside of 0.24%, Wolfe Research dropped the price target of Ross Stores Inc. (NDAQ:ROST) to $73.00

Previously on Friday August 18, 2017, UBS Securities reported about Ross Stores Inc. (NDAQ:ROST) lowered the target price from $70.00 to $64.00. At the time, this indicated a possible upside of 0.08%.

See Chart Below

Ross Stores Inc. (NDAQ:ROST)

Ross Stores Inc. has a 52 week low of $52.85 and a 52 week high of $69.81 with a P/E ratio of 19.49 The company’s market cap is currently $0.

In addition to Wolfe Research reporting its target price, a total of 22 firms have reported on the stock. The consensus target price is $59.98 with 8 firms rating the stock a strong buy, 8 firms rating the stock a buy, 12 firms rating the stock a hold, 1 firm rating the stock a underperform, and finally 0 firms rating the stock a sell.

About Ross Stores Inc. (NDAQ:ROST)

Ross Stores, Inc. and its subsidiaries operate two brands of off-price retail apparel and home fashion stores-Ross Dress for Less (Ross) and dd’s DISCOUNTS. The Company is the off-price apparel and home fashion chain in the United States, with 1,340 locations in 36 states, the District of Columbia and Guam, as of January 28, 2017. The Company offers in-season, name brand and designer apparel, accessories, footwear, and home fashions for the entire family at savings of 20% to 60% off department and specialty store regular prices every day. The Company also operated 193 dd’s DISCOUNTS stores in 15 states as of January 28, 2017. As of January 28, 2017, the Company operated a total of 1,533 stores consisted of 1,340 Ross stores and 193 dd’s DISCOUNTS stores. As of January 28, 2017, the Company owned and operated six distribution processing facilities-three in California, one in Pennsylvania, and two in South Carolina.

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