Ross Stores Inc. ($ROST) Stock Forecast: Up 0.1% Today

What is Ross Stores Inc.?

Ross Stores, Inc. (NASDAQ: ROST) operates a chain of off-price retail apparel and home fashion stores in the US, offering discounted brand-name clothing, footwear, accessories, and home goods.

Why is Ross Stores Inc. going up?

ROST stock is up 0.1% on Aug 23, 2024 14:51

• Strong Q2 earnings were reported by Ross Stores, with earnings per share reaching $1.59 and net income totaling $527 million, surpassing expectations.
• Anticipated continuation of positive trends as the company projects 2-3% growth in comparable sales for the third and fourth quarters.
• Analysts revised the price target for ROST upwards from $170 to $190, reflecting optimistic sentiment and confidence in the company's performance.
• Following the earnings report and future outlook, the market responded favorably, leading to a significant bullish surge in ROST stock.

ROST Price Chart

ROST Technical Analysis

ROST News

10 things to watch in the stock market Friday including big earnings movers

Cava, Ross Stores and Workday share are all jumping after the companies reported quarterly results.

https://www.cnbc.com/2024/08/23/10-things-to-watch-in-the-stock-market-friday-including-big-earnings-movers.html

Ross Stores To Rally Around 25%? Here Are 10 Top Analyst Forecasts For Friday - Ross Stores ( NASDAQ:ROST )

Top Wall Street analysts changed their outlook on these top names. For a complete view of all analyst rating changes, including upgrades and downgrades, please see our analyst ratings page. Loop Capital raised the price target for Ross Stores, Inc. ROST from $170 to $190.

https://www.benzinga.com/news/24/08/40526572/ross-stores-to-rally-around-25-here-are-10-top-analyst-forecasts-for-friday

Ross Stores Q2 earnings up, expects positive trend to continue

Ross Dress for Less Store Credits: Ross Stores, Inc. Ross Stores earnings per share increased to 1.59 dollars on net income of 527 million dollars for the second quarter. For the six month period, earnings per share rose to 3.05 dollars on net income of 1 billion dollars. Total sales for the quarter increased 7 percent to 5.3 billion dollars with comparable store sales up 4 percent versus last year. Sales for the first half grew to 10.1 billion dollars and comparable store sales increased by 3 percent. Commenting on the trading update, Barbara Rentler, Ross Stores CEO said in a statement: “Second quarter sales and earnings were above our expectations as our stronger value offerings resonated with our customers. Operating margin increased 115 basis points to 12.5 percent compared to the prior year period.” “For both the third and fourth quarters, we are planning comparable sales growth of 2 percent to 3 percent, respectively. If the second half of 2024 performs in line with these sales projections, earnings per share for the third quarter are projected to be 1.35 dollars to 1.41 dollars and 1.60 dollars to 1.67 dollars for the fourth quarter,” added Rentler.

https://fashionunited.uk/news/business/ross-stores-q2-earnings-up-expects-positive-trend-to-continue/2024082377225

Intuit, Ross Stores And 3 Stocks To Watch Heading Into Friday - Intuit ( NASDAQ:INTU )

With U.S. stock futures trading higher this morning on Friday, some of the stocks that may grab investor focus today are as follows: Intuit Inc. INTU reported better-than-expected results for its fourth quarter and issued strong FY25 EPS guidance. Also, the company approved a new $3 billion ...

https://www.benzinga.com/news/earnings/24/08/40521759/intuit-ross-stores-and-3-stocks-to-watch-heading-into-friday

Q2 2024 Ross Stores Inc Earnings Call Transcript

Q2 2024 Ross Stores Inc Earnings Call Transcript

https://www.gurufocus.com/news/2509015/q2-2024-ross-stores-inc-earnings-call-transcript

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Ross Stores Inc. Price History

23.07.2024 - ROST Stock was up 0.1%

• Strong Q2 earnings were reported by Ross Stores, with earnings per share reaching $1.59 and net income totaling $527 million, surpassing expectations.
• Anticipated continuation of positive trends as the company projects 2-3% growth in comparable sales for the third and fourth quarters.
• Analysts revised the price target for ROST upwards from $170 to $190, reflecting optimistic sentiment and confidence in the company's performance.
• Following the earnings report and future outlook, the market responded favorably, leading to a significant bullish surge in ROST stock.

24.04.2024 - ROST Stock was up 8.4%

• Ross Stores (ROST) experienced a strong bullish movement today, reflecting the positive sentiment surrounding the company.
• The company's impressive performance in Q1, highlighted by steady earnings and financial metrics, has likely contributed to the stock's upward momentum.
• Despite concerns about inflation impacting the broader market and leading to caution among investors, Ross Stores' ability to maintain its stock target and showcase competitive strengths has garnered investor confidence.
• The off-price retail sector, as demonstrated by both Ross Stores and TJX Companies, has shown resilience and profitability even during challenging economic times, further bolstering ROST's bullish trend.

17.10.2023 - ROST Stock was up 6.3%

• The bullish movement in ROST stock today can be attributed to the following factors:
• 1. Strong Q3 Earnings: Ross Stores reported impressive earnings growth, with earnings per share rising from $1 to $1.33 compared to the same period last year. The company also saw a significant increase in net income and sales for the quarter, surpassing expectations. This positive financial performance likely boosted investor confidence and drove the stock price higher.
• 2. Positive Outlook: The company's CEO, Barbara Rentler, expressed optimism about future sales and earnings, projecting same-store sales to be up 1% to 2% for the next quarter. This positive outlook may have contributed to the bullish sentiment surrounding the stock.
• 3. Market Response: The market responded favorably to Ross Stores' strong Q3 earnings beat, with the stock jumping 6.3% in after-hours trading. This indicates that investors are confident in the company's ability to continue delivering solid financial results.
• 4. Sector Performance: The retail sector as a whole may have experienced positive momentum, contributing to the bullish movement in ROST stock. As consumers continue to spend on discounted goods, Ross Stores' business model positions it well to capitalize on this trend.
• Overall, Ross Stores' strong earnings performance, positive outlook, and favorable market response likely drove the bullish movement in ROST stock today.

16.09.2023 - ROST Stock was up 2.7%

• The bullish movement in ROST could be attributed to the increase in holdings by Tokio Marine Asset Management Co. Ltd., indicating confidence in the stock.
• The announcement of Walmart's upcoming milk facility may have positively influenced ROST as it suggests potential growth in the retail sector, including apparel sales.
• Being selected as a momentum pick using the Driehaus strategy could have attracted investors' attention and contributed to the bullish movement.
• The expansion of Ross Stores with 51 new locations showcases the company's commitment to growth, which could have boosted investor confidence and led to the bullish market movement.

24.04.2024 - ROST Stock was up 9.2%

• Ross Stores stock surged following strong earnings and increased guidance, signaling optimism about the company's future performance.
• The off-price retail sector, which includes retailers like TJX, has demonstrated resilience and profitability even during economic challenges, potentially boosting confidence in Ross Stores among investors.
• Despite concerns about inflation and potential interest rate adjustments, Ross Stores' solid financial outcomes and cost-saving initiatives likely bolstered investor confidence and contributed to the stock's upward momentum.
• Deckers Outdoor, a company that also reported positive earnings, saw its stock rise alongside Ross Stores, indicating positive market sentiment towards retail stocks.

18.07.2023 - ROST Stock was up 5.0%

• The bullish movement in ROST's stock can be attributed to the following factors:
• 1. Strong Q2 Earnings: Ross Stores reported better-than-expected earnings for the second quarter, with EPS beating expectations by a larger margin than revenue. This positive performance indicates that the company is performing well and has managed to navigate competitive pressures effectively.
• 2. Raised Guidance: The company also raised its fourth-quarter guidance above consensus targets, indicating confidence in its future performance. This optimistic outlook likely contributed to the bullish movement in the stock.
• 3. Beat-and-Raise Trend: Ross Stores joined other off-price retailers in surprising Wall Street with a beat-and-raise, which led to a rally in the stock. This suggests that investors are optimistic about the company's ability to continue delivering strong results and attract customers looking for bargains.
• Overall, Ross Stores' strong earnings, raised guidance, and ability to outperform expectations have driven the bullish movement in its stock. The company's focus on offering discounted products in a competitive market has resonated well with consumers, leading to increased investor confidence.

24.04.2024 - ROST Stock was up 9.0%

• Ross Stores' stock experienced a strong bullish movement during the recent period.
• The positive market trend was influenced by encouraging developments and upgrades by analysts, with TD Cowen raising the stock's price target and Ross Stores surpassing MarMaxx, its competitor.
• Moreover, the company's robust Q1 2024 financial results, surpassing expectations for both EPS and revenue, likely played a role in driving the stock's upward trajectory.
• In summary, the confluence of favorable updates, analyst endorsements, and solid financial performance bolstered investor trust in Ross Stores, resulting in the bullish market movement.

06.02.2024 - ROST Stock was down 0.5%

• ROST experienced a bearish movement despite reporting better-than-expected fourth-quarter results, including surpassing earnings and sales estimates.
• The overall market sentiment was positive, with futures jumping and tech names rebounding after a recent selloff, indicating a potential relief rally.
• A tech company's disappointing fourth-quarter results and lower-than-expected guidance may have negatively impacted investor confidence in the retail sector, leading to ROST's bearish movement.
• The increase in ROST's stock target to $163 on growth prospects suggests long-term optimism, despite the short-term market reaction.

24.04.2024 - ROST Stock was up 9.5%

• Ross Stores stock surged after reporting better-than-expected results and raising its guidance, indicating strong performance and investor confidence in the company's future prospects.
• The positive earnings report and cost reduction efforts by Ross Stores likely contributed to the bullish movement, attracting investors seeking growth opportunities in the retail sector.
• The overall upbeat sentiment in the market, as seen in the rise of other stocks like Deckers Outdoor Corporation, also supported the bullish movement in Ross Stores stock.
• Analysts' bullish outlook on Ross Stores, as evidenced by a lifted stock price target, further boosted investor sentiment and contributed to the stock's upward momentum.