Ross Stores (NASDAQ:ROST) was downgraded by research analysts at BidaskClub from a “buy” rating to a “hold” rating in a research note issued on Thursday, April 12th.
A number of other equities research analysts have also commented on ROST. Nomura reiterated a “buy” rating and issued a $90.00 target price (up previously from $80.00) on shares of Ross Stores in a research report on Wednesday, January 17th. SunTrust Banks restated a “buy” rating on shares of Ross Stores in a research report on Friday, February 2nd. BMO Capital Markets restated a “hold” rating and issued a $78.00 price objective on shares of Ross Stores in a research report on Wednesday, March 7th. Jefferies Group restated a “hold” rating and issued a $73.00 price objective on shares of Ross Stores in a research report on Wednesday, March 7th. Finally, Royal Bank of Canada set a $82.00 target price on Ross Stores and gave the company a “hold” rating in a research report on Tuesday, March 6th. Eight equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. Ross Stores presently has an average rating of “Buy” and an average target price of $81.86.
Shares of Ross Stores stock opened at $78.89 on Thursday. Ross Stores has a one year low of $52.85 and a one year high of $85.66. The company has a quick ratio of 0.78, a current ratio of 1.64 and a debt-to-equity ratio of 0.10. The stock has a market capitalization of $29,378.10, a price-to-earnings ratio of 23.62, a PEG ratio of 1.91 and a beta of 1.08.
Ross Stores (NASDAQ:ROST) last posted its quarterly earnings data on Tuesday, March 6th. The apparel retailer reported $0.98 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.93 by $0.05. The firm had revenue of $4.07 billion for the quarter, compared to the consensus estimate of $3.95 billion. Ross Stores had a net margin of 9.64% and a return on equity of 44.53%. sell-side analysts anticipate that Ross Stores will post 4.06 EPS for the current year.
Ross Stores declared that its Board of Directors has initiated a stock repurchase plan on Tuesday, March 6th that authorizes the company to repurchase $200.00 million in shares. This repurchase authorization authorizes the apparel retailer to buy shares of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its stock is undervalued.
In other news, CEO Barbara Rentler sold 32,430 shares of Ross Stores stock in a transaction dated Thursday, April 5th. The stock was sold at an average price of $79.53, for a total value of $2,579,157.90. Following the completion of the transaction, the chief executive officer now owns 534,318 shares in the company, valued at approximately $42,494,310.54. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Bernard G. Brautigan sold 8,587 shares of Ross Stores stock in a transaction dated Thursday, March 15th. The shares were sold at an average price of $76.80, for a total value of $659,481.60. Following the completion of the transaction, the insider now owns 193,089 shares of the company’s stock, valued at approximately $14,829,235.20. The disclosure for this sale can be found here. Insiders sold a total of 256,652 shares of company stock valued at $19,829,016 in the last quarter. Company insiders own 2.30% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of ROST. Amundi Pioneer Asset Management Inc. raised its position in shares of Ross Stores by 63.4% during the 4th quarter. Amundi Pioneer Asset Management Inc. now owns 5,456,503 shares of the apparel retailer’s stock worth $437,885,000 after acquiring an additional 2,117,771 shares in the last quarter. Rockefeller Financial Services Inc. acquired a new position in Ross Stores during the fourth quarter worth approximately $117,845,000. Millennium Management LLC increased its position in Ross Stores by 58.1% during the fourth quarter. Millennium Management LLC now owns 2,005,253 shares of the apparel retailer’s stock worth $160,922,000 after buying an additional 736,599 shares during the period. Element Capital Management LLC acquired a new position in Ross Stores during the fourth quarter worth approximately $49,775,000. Finally, Parametric Portfolio Associates LLC increased its position in Ross Stores by 51.6% during the third quarter. Parametric Portfolio Associates LLC now owns 1,473,245 shares of the apparel retailer’s stock worth $95,127,000 after buying an additional 501,505 shares during the period. 90.41% of the stock is currently owned by institutional investors and hedge funds.
Ross Stores Company Profile
Ross Stores, Inc, together with its subsidiaries, operates off-price retail apparel and home fashion stores under the Ross Dress for Less and dd's DISCOUNTS brand names in the United States. It primarily offers apparel, accessories, footwear, and home fashions. The company's Ross Dress for Less stores sell its products at savings of 20% to 60% off department and specialty store regular prices primarily to middle income households; and dd's DISCOUNTS stores sell its products at savings of 20% to 70% off moderate department and discount store regular prices to customers from households with moderate income.
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