Ross Stores, Inc. (ROST)’s Trend Down, Especially After Forming a Bearish Double Bottom Pattern

September 17, 2017 - By Louis Casey

Investors sentiment increased to 1.08 in 2016 Q4. Its up 0.24, from 0.84 in 2016Q3. It improved, as 41 investors sold Ross Stores, Inc. shares while 240 reduced holdings. 106 funds opened positions while 198 raised stakes. 341.62 million shares or 0.09% more from 341.30 million shares in 2016Q3 were reported.
Arizona State Retirement Systems owns 0.11% invested in Ross Stores, Inc. (NASDAQ:ROST) for 113,000 shares. Gofen Glossberg Ltd Liability Corporation Il invested in 11,600 shares or 0.03% of the stock. Legacy Private Tru invested in 0.1% or 11,082 shares. 94,223 are held by M&T National Bank. Boston Advisors Ltd Limited Liability Company holds 368,171 shares or 0.58% of its portfolio. Janney Montgomery Scott Llc reported 12,387 shares. Wade G W And, Massachusetts-based fund reported 3,490 shares. Art Advsr Limited Liability Com holds 0.5% of its portfolio in Ross Stores, Inc. (NASDAQ:ROST) for 127,600 shares. Verition Fund Management Limited Liability Company owns 6,255 shares. Advantus Mgmt accumulated 39,827 shares. Spirit Of America Corp has 9,500 shares for 0.07% of their portfolio. Somerset Trust has 24,587 shares for 0.96% of their portfolio. United Services Automobile Association holds 484,675 shares. Quantbot Technologies Ltd Partnership, New York-based fund reported 176,201 shares. Oakbrook Investments Lc invested 0.14% of its portfolio in Ross Stores, Inc. (NASDAQ:ROST).

Since March 20, 2017, it had 0 insider buys, and 6 selling transactions for $7.51 million activity. Another trade for 7,426 shares valued at $493,883 was sold by BUSH MICHAEL J. Shares for $189,725 were sold by Morrow Brian R. on Friday, April 7. Another trade for 3,360 shares valued at $225,491 was sold by Hartshorn Michael J.. RENTLER BARBARA had sold 50,481 shares worth $3.34 million. The insider CALL JOHN G sold 15,243 shares worth $1.00 million. Shares for $1.02 million were sold by GARRETT SHARON D. Another trade for 28,434 shares valued at $1.88M was sold by Brautigan Bernard G..

The chart of Ross Stores, Inc. (ROST) shows a double bottom with $57.67 target or 5.00 % below today’s $60.71 share price. The 6 months chart pattern indicates high risk for the $23.41B company. It was reported on Sep, 17 by Finviz.com. If the $57.67 price target is reached, the company will be worth $1.17B less. Double bottoms are rare but powerful chart patterns.

The stock increased 0.18% or $0.11 on September 15, reaching $60.71. About 3.53 million shares traded. Ross Stores, Inc. (NASDAQ:ROST) has risen 12.03% since September 17, 2016 and is uptrending. It has underperformed by 4.67% the S&P500.

Investors wait Ross Stores, Inc. (NASDAQ:ROST) to report on November, 16. its quarterly earnings Wall Street analysts expect $0.67 EPS, up $0.05 or 8.06 % from last year’s $0.62 same quarter earnings. This translates into $258.35 million profit for ROST giving the stock a 22.65 P/E. This is assuming the current $0.67 EPS is accurate. Ross Stores, Inc.’s Wall Street analysts see -18.29 % negative EPS growth, taking into account the $0.82 EPS reproted in the previous quarter,

Ross Stores, Inc. (NASDAQ:ROST) Ratings Coverage

Among 20 analysts covering Ross Stores Inc. (NASDAQ:ROST), 10 have Buy rating, 1 Sell and 9 Hold. Therefore 50% are positive. Ross Stores Inc. had 50 analyst reports since August 21, 2015 according to SRatingsIntel. Citigroup downgraded the shares of ROST in report on Wednesday, March 1 to “Neutral” rating. The stock of Ross Stores, Inc. (NASDAQ:ROST) earned “Neutral” rating by Goldman Sachs on Friday, August 19. The firm has “Hold” rating by RBC Capital Markets given on Monday, July 24. M Partners maintained Ross Stores, Inc. (NASDAQ:ROST) on Friday, August 18 with “Buy” rating. The firm has “Neutral” rating by Goldman Sachs given on Wednesday, March 9. Wedbush maintained the stock with “Outperform” rating in Friday, November 18 report. The firm earned “Hold” rating on Friday, August 21 by Cantor Fitzgerald. The stock of Ross Stores, Inc. (NASDAQ:ROST) has “Outperform” rating given on Friday, May 20 by Cowen & Co. The firm has “Market Perform” rating by Telsey Advisory Group given on Friday, November 18. Deutsche Bank maintained Ross Stores, Inc. (NASDAQ:ROST) on Wednesday, March 2 with “Buy” rating.

More notable recent Ross Stores, Inc. (NASDAQ:ROST) news were published by: Seekingalpha.com which released: “Ross Stores: Rally Time Again?” on September 05, 2017, also Prnewswire.com with their article: “Ross Stores Donates $400000 To American Red Cross For Hurricane Harvey Relief …” published on August 30, 2017, Nasdaq.com published: “Ex-Dividend Reminder: TEGNA, Ross Stores and GameStop” on September 05, 2017. More interesting news about Ross Stores, Inc. (NASDAQ:ROST) were released by: Benzinga.com and their article: “TJX Companies, Ross Stores Can Each Continue To Grow Despite Competition” published on September 12, 2017 as well as Prnewswire.com‘s news article titled: “Ross Stores To Participate In The Goldman Sachs Global Retailing Conference” with publication date: August 31, 2017.

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