Smart Investors Should Buy the Dip in Ross Stores Stock

Last week, Ross Stores (NASDAQ: ROST) posted another strong quarterly earnings report. The retail giant easily beat its own guidance and analysts' estimates for the third quarter of fiscal 2021.

Nevertheless, investors dumped Ross Stores stock following the earnings report, likely because the company provided weak earnings guidance for the fourth quarter. The shares now sit closer to their 52-week low than their 52-week high. This sell-off represents a great buying opportunity for long-term investors.

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Source Fool.com