UBS analyst Jay Sole has reaffirmed Ross Stores (NASDAQ: ROST) with a Neutral rating and increased the price target to $145 on March 6, 2024. This adjustment reflects UBS’s thorough analysis of Ross Stores’ performance and potential in the market. UBS is known for its cutting-edge investment research provided through UBS Neo, offering valuable insights supported by primary evidence to aid investors in making well-informed decisions.
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ROST Stock Sees Slight Decrease on March 6, 2024 but Remains Strong Near 52-Week High
On March 6, 2024, ROST stock experienced a slight decrease in value, trading near the top of its 52-week range and above its 200-day simple moving average. The stock opened at $144.30, which was $4.87 lower than its previous close. Throughout the trading day, the price of ROST shares dropped by $1.60, representing a 1.07% decrease from the previous day’s closing price.
Despite the slight decrease in value on March 6, ROST stock has been performing well overall, trading near the top of its 52-week range. This indicates that investors have confidence in the company’s performance and future prospects. Additionally, the fact that ROST is trading above its 200-day simple moving average suggests that the stock has been on an upward trend in the long term.
Ross Stores, Inc. (ROST) Stock Performance Analysis: Revenue and Net Income Flat, EPS Decreases
On March 6, 2024, Ross Stores, Inc. (ROST) stock performance was under scrutiny as investors analyzed the company’s financial data. According to CNN Money, Ross Stores reported a total revenue of $18.70 billion for the past year, which remained flat compared to the previous year. The total revenue for the third quarter was $4.92 billion, which also held flat since the previous quarter.
In terms of net income, Ross Stores reported $1.51 billion for the past year, representing a 12.22% decrease compared to the previous year. The net income for the third quarter was $447.33 million, which held flat since the previous quarter.
Earnings per share (EPS) for Ross Stores were reported at $4.38 for the past year, showing a 10.06% decrease compared to the previous year. The EPS for the third quarter was $1.33, which also held flat since the previous quarter.
