Can Ross Stores, Inc. (ROST)’s Tomorrow be Different? The Stock Formed a Bearish Double Bottom Chart Pattern

September 12, 2017 - By Peter Erickson

Investors sentiment increased to 1.08 in Q4 2016. Its up 0.24, from 0.84 in 2016Q3. It is positive, 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.
Thompson Davis And Communications, a Virginia-based fund reported 908 shares. Aperio Group Lc reported 177,428 shares. Fifth Third Bancorp has invested 0.01% in Ross Stores, Inc. (NASDAQ:ROST). Herndon Capital Mgmt Limited Liability holds 1.1% in Ross Stores, Inc. (NASDAQ:ROST) or 126,843 shares. 910,801 are held by Marshall Wace Ltd Liability Partnership. Exxonmobil Invest Incorporated Tx has 91,795 shares for 0.13% of their portfolio. 20,041 were accumulated by Raymond James Na. Bnp Paribas Partners reported 316,066 shares. Farmers And Merchants Invests has 76,319 shares. Teacher Retirement System Of Texas holds 0.03% or 59,438 shares in its portfolio. 123,302 were accumulated by Gulf Intl Savings Bank (Uk) Limited. Suntrust Banks Incorporated invested in 0.02% or 57,481 shares. Parkside Fin Retail Bank & has 1,936 shares. Citigroup accumulated 325,222 shares. Amp Invsts, Australia-based fund reported 209,422 shares.

Since March 14, 2017, it had 0 buys, and 9 insider sales for $9.73 million activity. CALL JOHN G had sold 15,243 shares worth $1.00M. Brautigan Bernard G. also sold $1.88 million worth of Ross Stores, Inc. (NASDAQ:ROST) on Thursday, March 23. BUSH MICHAEL J also sold $493,883 worth of Ross Stores, Inc. (NASDAQ:ROST) on Thursday, March 23. $1.02M worth of Ross Stores, Inc. (NASDAQ:ROST) was sold by GARRETT SHARON D on Monday, May 22. 51,207 shares valued at $3.45 million were sold by BALMUTH MICHAEL on Tuesday, March 14. Shares for $989,330 were sold by Panattoni Lisa R. On Wednesday, March 22 the insider RENTLER BARBARA sold $3.34M.

The chart of Ross Stores, Inc. (ROST) shows a double bottom with $58.28 target or 5.00 % below today’s $61.35 share price. The 6 months chart pattern indicates high risk for the $23.66 billion company. It was reported on Sep, 12 by Finviz.com. If the $58.28 price target is reached, the company will be worth $1.18B less. Double bottoms are rare but powerful chart patterns.

About 1.03M shares traded. Ross Stores, Inc. (NASDAQ:ROST) has risen 12.03% since September 12, 2016 and is uptrending. It has underperformed by 4.67% the S&P500.

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

Among 20 analysts covering Ross Stores Inc. (NASDAQ:ROST), 9 have Buy rating, 1 Sell and 10 Hold. Therefore 45% are positive. Ross Stores Inc. had 48 analyst reports since August 21, 2015 according to SRatingsIntel. The firm has “Positive” rating given on Friday, February 10 by Susquehanna. The rating was reinitiated by Wells Fargo on Thursday, October 22 with “Outperform”. The firm has “Hold” rating given on Tuesday, July 4 by Jefferies. BMO Capital Markets maintained Ross Stores, Inc. (NASDAQ:ROST) rating on Tuesday, August 8. BMO Capital Markets has “Hold” rating and $6500 target. The rating was maintained by Citigroup with “Buy” on Friday, August 19. The rating was maintained by RBC Capital Markets with “Hold” on Monday, July 24. The stock has “Hold” rating by BMO Capital Markets on Sunday, September 10. The rating was downgraded by Goldman Sachs on Wednesday, March 9 to “Neutral”. The rating was maintained by M Partners on Friday, August 18 with “Buy”. The firm earned “Neutral” rating on Wednesday, March 1 by Citigroup.

More notable recent Ross Stores, Inc. (NASDAQ:ROST) news were published by: Latimes.com which released: “We know which companies sell clothes made by sweatshop workers. Consumers …” on September 08, 2017, also Finance.Yahoo.com with their article: “Here’s Why Ross Stores (ROST) Stock Popped Today” published on August 19, 2017, Seekingalpha.com published: “TJX Or Ross Stores: What’s The Better Investment?” on August 14, 2017. More interesting news about Ross Stores, Inc. (NASDAQ:ROST) were released by: Nasdaq.com and their article: “Ross Stores Inc. Bottom Line Rises 12% In Q2” published on August 17, 2017 as well as Nasdaq.com‘s news article titled: “Earnings Reaction History: Ross Stores, Inc., 66.7% Follow-Through Indicator …” with publication date: August 17, 2017.

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