BidaskClub upgraded shares of Ross Stores (NASDAQ:ROST) from a buy rating to a strong-buy rating in a research note issued to investors on Friday morning.
Several other equities analysts have also issued reports on ROST. Loop Capital boosted their price target on shares of Ross Stores from $88.00 to $95.00 and gave the company a buy rating in a report on Wednesday, June 27th. Zacks Investment Research lowered shares of Ross Stores from a buy rating to a hold rating in a report on Monday, July 23rd. Wedbush assumed coverage on shares of Ross Stores in a report on Friday, June 22nd. They issued a neutral rating and a $90.00 price target for the company. Guggenheim reissued a buy rating and issued a $100.00 price target on shares of Ross Stores in a report on Wednesday, July 25th. Finally, Telsey Advisory Group upped their target price on shares of Ross Stores from $98.00 to $105.00 and gave the stock an outperform rating in a research note on Friday, August 24th. Twelve research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of Buy and a consensus target price of $96.04.
Shares of Ross Stores stock traded up $1.55 on Friday, hitting $95.87. 2,986,232 shares of the company’s stock traded hands, compared to its average volume of 2,705,214. The stock has a market capitalization of $37.00 billion, a price-to-earnings ratio of 28.70, a PEG ratio of 2.41 and a beta of 1.09. Ross Stores has a one year low of $62.34 and a one year high of $100.58. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.85 and a current ratio of 1.71.
Ross Stores (NASDAQ:ROST) last announced its quarterly earnings results on Thursday, August 23rd. The apparel retailer reported $1.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.01 by $0.03. Ross Stores had a net margin of 10.41% and a return on equity of 47.56%. The company had revenue of $3.74 billion during the quarter, compared to analyst estimates of $3.66 billion. During the same quarter in the previous year, the business earned $0.82 EPS. The firm’s revenue was up 8.9% on a year-over-year basis. As a group, research analysts forecast that Ross Stores will post 4.12 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 28th. Shareholders of record on Thursday, September 13th were given a dividend of $0.225 per share. The ex-dividend date was Wednesday, September 12th. This represents a $0.90 annualized dividend and a yield of 0.94%. Ross Stores’s dividend payout ratio (DPR) is presently 26.95%.
In other Ross Stores news, Director Norman A. Ferber sold 10,144 shares of the business’s stock in a transaction dated Monday, August 27th. The shares were sold at an average price of $94.90, for a total transaction of $962,665.60. Following the sale, the director now directly owns 25,127 shares of the company’s stock, valued at approximately $2,384,552.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 2.40% of the company’s stock.
Large investors have recently modified their holdings of the business. MUFG Americas Holdings Corp lifted its position in Ross Stores by 216.4% during the 2nd quarter. MUFG Americas Holdings Corp now owns 1,924 shares of the apparel retailer’s stock worth $163,000 after buying an additional 1,316 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its position in Ross Stores by 31.3% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 6,515 shares of the apparel retailer’s stock worth $552,000 after buying an additional 1,553 shares in the last quarter. SCP Investment LP bought a new stake in Ross Stores during the 2nd quarter worth about $1,271,000. Bank of America Corp DE lifted its position in Ross Stores by 7.8% during the 2nd quarter. Bank of America Corp DE now owns 2,126,156 shares of the apparel retailer’s stock worth $180,192,000 after buying an additional 154,387 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. lifted its position in Ross Stores by 6.5% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,212,734 shares of the apparel retailer’s stock worth $102,779,000 after buying an additional 73,671 shares in the last quarter. 88.24% of the stock is currently owned by hedge funds and other institutional investors.
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 brands 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 department and specialty stores primarily to middle income households; and dd's DISCOUNTS stores sell its products at department and discount stores regular prices to customers from households with moderate income.
Further Reading: Short Selling Stocks, A Beginner’s Guide
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.