Ross Stores, Inc. (NASDAQ: ROST) shares were down on Wednesday January 18 on lower trade volume than normal after a number of analysts weighed in on the investing value of the stock, boosting the price target of stock.
Meanwhile, in early trade today, the S&P 500 SPX, +0.00% was off 2 points, or 0.1%, at 2,265, shortly after open. The Nasdaq Composite COMP, +0.20% was flat at 5,537. The Dow Jones Industrial Average DJIA, -0.20% slipped 54 points or 0.3%, to 19,770.
Ross Stores, Inc. (NASDAQ: ROST) had its price target raised by equities researchers at Deutsche Bank AG from $0.00 to $75.00. Deutsche Bank AG currently has a rating of on the stock. The one-year price target of $70.17 is above the opening price of $67.40, resulting a fair amount of other analysts to comment on the stock recently. Looking back over the last year, Ross Stores, Inc. stock has a high of $69.81.
Shares of Ross Stores, Inc. (NASDAQ: ROST) opened at $67.40 yesterday and traded in a range between, $66.83 and $67.40, and last traded at $67.05, which represents a drop of $0.07 from the previous closing price.
Ross Stores, Inc. (NASDAQ: ROST) currently has a market cap of 26.43B.
Ross Stores, Inc. (NASDAQ: ROST) Average Daily Trading Volume
228,845 shares crossed the trading desk yesterday, 65 percent below normal, out of a total float 385,635,000. lower than normal. Look for trading volume to pick up in the coming days as swing traders often use upticks in trading volume to identify heavy volume accumulation or distribution by institutional investors.
As with all potential breakouts, investors look for volume to be at least 40%-50% higher than normal on the breakout to show that fund managers and other professional investors are jumping in.
Institutional sponsorship simply refers to ownership of a stock by mutual funds, banks, pension funds and other large institutions.
These professional investors have teams of analysts that investigate thousands of stocks, so it is good validation to see them buying a stock you are researching.
Ross Stores, Inc. (NASDAQ: ROST) Moving Averages
A moving average can also act as support or resistance. In an uptrend a 50-day, 100-day or 200-day moving average may act as a support level, as shown in the figure below.
This is because the average acts like a floor (support), so the price bounces up off of it.
In a downtrend a moving average may act as resistance; like a ceiling, the price hits it and then starts to drop again.
By tracking the activity of these professional investors—and the moving averages they affect—it allows for traders to make more effective decisions on trades.
With that in mind, Ross Stores, Inc. (NASDAQ: ROST) now has a 50-day MA of $67.15 and 200-day MA of $63.70. It has traded in a 52-week range between $50.42 – 69.81 and today’s last price is 3.95%% lower than the 52 week high of $69.81.
Earnings growth is a crucial factor to look at when investing in stocks and investors seek companies that have increased their earnings at least 25% or more over a 3 year period.
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