Several other analysts have also commented on ROST. BidaskClub upgraded shares of Ross Stores from a hold rating to a buy rating in a research report on Wednesday, December 27th. Nomura set a $80.00 price target on shares of Ross Stores and gave the company a buy rating in a research report on Friday, November 17th. Royal Bank of Canada restated a sector perform rating and set a $70.00 price target (up previously from $62.00) on shares of Ross Stores in a research report on Friday, November 17th. Telsey Advisory Group restated a buy rating on shares of Ross Stores in a research report on Friday, November 17th. Finally, SunTrust Banks restated a buy rating on shares of Ross Stores in a research report on Friday, February 2nd. Eight research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. The company has an average rating of Buy and a consensus target price of $81.86.
Ross Stores (NASDAQ ROST) traded up $0.18 during midday trading on Tuesday, hitting $77.18. 2,468,913 shares of the company’s stock were exchanged, compared to its average volume of 2,707,464. The stock has a market capitalization of $29,207.42, a PE ratio of 21.77, a P/E/G ratio of 1.90 and a beta of 1.09. Ross Stores has a fifty-two week low of $52.85 and a fifty-two week high of $85.66. The company has a current ratio of 1.64, a quick ratio of 0.78 and a debt-to-equity ratio of 0.10.
Ross Stores (NASDAQ:ROST) last released its quarterly earnings data on Tuesday, March 6th. The apparel retailer reported $0.98 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.93 by $0.05. The firm had revenue of $4.07 billion for the quarter, compared to analyst estimates of $3.95 billion. Ross Stores had a net margin of 9.64% and a return on equity of 44.53%. sell-side analysts forecast that Ross Stores will post 4.03 earnings per share for the current year.
Ross Stores declared that its Board of Directors has approved a share repurchase program on Tuesday, March 6th that permits the company to buyback $200.00 million in outstanding shares. This buyback authorization permits the apparel retailer to purchase shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.
The firm also recently declared a quarterly dividend, which will be paid on Friday, March 30th. Stockholders of record on Monday, March 19th will be paid a $0.225 dividend. This is an increase from Ross Stores’s previous quarterly dividend of $0.16. This represents a $0.90 annualized dividend and a dividend yield of 1.17%. The ex-dividend date of this dividend is Friday, March 16th. Ross Stores’s dividend payout ratio (DPR) is currently 18.03%.
A number of hedge funds have recently modified their holdings of ROST. Amundi Pioneer Asset Management Inc. raised its stake in Ross Stores by 63.4% during the fourth quarter. Amundi Pioneer Asset Management Inc. now owns 5,456,503 shares of the apparel retailer’s stock worth $437,885,000 after purchasing an additional 2,117,771 shares during the period. Nordea Investment Management AB raised its stake in Ross Stores by 8,982.4% during the third quarter. Nordea Investment Management AB now owns 1,617,840 shares of the apparel retailer’s stock worth $104,464,000 after purchasing an additional 1,600,027 shares during the period. Rockefeller Financial Services Inc. purchased a new position in Ross Stores during the fourth quarter worth about $117,845,000. Wells Fargo & Company MN raised its stake in Ross Stores by 39.2% during the third quarter. Wells Fargo & Company MN now owns 3,658,907 shares of the apparel retailer’s stock worth $236,257,000 after purchasing an additional 1,029,990 shares during the period. Finally, Principal Financial Group Inc. raised its stake in Ross Stores by 13.1% during the third quarter. Principal Financial Group Inc. now owns 7,332,752 shares of the apparel retailer’s stock worth $473,476,000 after purchasing an additional 849,789 shares during the period. 89.58% of the stock is currently owned by institutional investors.
TRADEMARK VIOLATION NOTICE: This news story was posted by The Lincolnian Online and is the sole property of of The Lincolnian Online. If you are viewing this news story on another site, it was copied illegally and reposted in violation of United States & international copyright & trademark legislation. The original version of this news story can be viewed at https://www.thelincolnianonline.com/2018/03/14/ross-stores-rost-given-a-85-00-price-target-by-cowen-analysts.html.
Ross Stores Company Profile
Ross Stores, Inc and its subsidiaries operate two brands of off-price retail apparel and home fashion stores-Ross Dress for Less (Ross) and dd’s DISCOUNTS. The Company is the off-price apparel and home fashion chain in the United States, with 1,340 locations in 36 states, the District of Columbia and Guam, as of January 28, 2017.
Receive News & Ratings for Ross Stores Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ross Stores and related companies with MarketBeat.com's FREE daily email newsletter.