Ross Stores, Inc. has made several significant announcements lately. The first quarter 2024 earnings release and conference call is due, with increased earnings expected. The stock is considered a "strong buy" and regarded as a surprising bargain. However, its price target was recently lowered to $159.00 at Morgan Stanley. Several firms, including Charles Schwab Investment Management Inc. and Benjamin F. Edwards & Company Inc., have increased their stakes in the company. The company's continued expansion is demonstrated by the unveiling of 27 new locations. However, its shares have dropped 26% since the last earnings report.
Upcoming Q4 2023 earnings look promising, following strong Q4 2023 results and an announced stock buyback. The report indicates strong sales results and expects favorable demand ahead. However, the Q3 2023 earnings show challenges in capital allocation, and the company issued a conservative guidance due to the consumers' inflation concerns. This said, Ross Stores is still considered a top value and growth stock for the long-term.
Ross Stores ROST News Analytics from Fri, 18 Aug 2023 07:00:00 GMT to Thu, 09 May 2024 20:01:00 GMT - Rating 6 - Innovation -2 - Information 8 - Rumor -4
