Ross Stores, Inc. (NASDAQ:ROST) Stock Has Consensus Target Price of $272.06 According to Analysts

Shares of Ross Stores, Inc. (NASDAQ:ROST) have earned an average rating of “Moderate Buy” from the twenty-one analysts that are currently covering the company, MarketBeat reports. Four analysts have rated the stock with a hold recommendation, sixteen have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $277.72.

A number of equities analysts recently weighed in on ROST shares. Wells Fargo & Company upped their target price on shares of Ross Stores from $245.00 to $248.00 and gave the stock an “equal weight” rating in a research note on Friday, August 21st. Barclays lifted their price target on Ross Stores from $260.00 to $298.00 and gave the company an “overweight” rating in a research note on Friday, August 21st. UBS Group upgraded Ross Stores from a “neutral” rating to a “buy” rating and boosted their price target for the company from $239.00 to $315.00 in a report on Monday, October 26th. Cantor Fitzgerald assumed coverage on Ross Stores in a report on Tuesday. They issued an “overweight” rating and a $276.00 price target on the stock. Finally, JPMorgan Chase & Co. upped their price objective on Ross Stores from $262.00 to $272.00 and gave the stock an “overweight” rating in a research report on Friday, August 21st.

Ross Stores Stock Performance

Shares of ROST opened at $241.27 on Friday. The firm has a market cap of $77.07 billion, a P/E ratio of 29.21, a PEG ratio of 2.13 and a beta of 0.85. Ross Stores has a twelve month low of $157.73 and a twelve month high of $257.00. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.98 and a current ratio of 1.61. The firm’s 50 day moving average price is $231.52 and its two-hundred day moving average price is $223.87.

Ross Stores (NASDAQ:ROST) last issued its quarterly earnings data on Thursday, August 20th. The apparel retailer reported $2.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.95 by $0.71. Ross Stores had a net margin of 10.85% and a return on equity of 39.29%. The company had revenue of $6.26 billion during the quarter, compared to the consensus estimate of $6.16 billion. During the same quarter in the prior year, the firm earned $1.56 earnings per share. The firm’s revenue was up 13.3% compared to the same quarter last year. On average, analysts forecast that Ross Stores will post 8.15 EPS for the current fiscal year.

Ross Stores Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 8th were paid a $0.4450 dividend. The ex-dividend date was Tuesday, September 8th. This represents a $1.78 annualized dividend and a yield of 0.7%. Ross Stores’s payout ratio is presently 21.55%.

Insider Activity at Ross Stores

In other news, insider Stephen C. Brinkley sold 6,424 shares of the business’s stock in a transaction on Monday, September 14th. The shares were sold at an average price of $229.66, for a total value of $1,475,335.84. Following the sale, the insider owned 51,665 shares of the company’s stock, valued at $11,865,383.90. The trade was a 11.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO James Conroy sold 49,205 shares of the stock in a transaction on Monday, September 14th. The stock was sold at an average price of $229.48, for a total transaction of $11,291,563.40. Following the transaction, the chief executive officer owned 134,349 shares of the company’s stock, valued at $30,830,408.52. The trade was a 26.81% decrease in their position. The SEC filing for this sale provides additional information. 2.10% of the stock is owned by company insiders.

Institutional Investors Weigh In On Ross Stores

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. bought a new stake in Ross Stores during the second quarter worth about $5,938,711,000. Bank of America Corp DE acquired a new position in Ross Stores during the second quarter valued at approximately $2,024,203,000. Primecap Management Co. CA bought a new position in Ross Stores in the second quarter valued at approximately $1,937,995,000. Wellington Management Group LLP grew its stake in Ross Stores by 89.2% in the second quarter. Wellington Management Group LLP now owns 6,615,682 shares of the apparel retailer’s stock valued at $1,408,148,000 after purchasing an additional 3,118,591 shares in the last quarter. Finally, Legal & General Group Plc bought a new position in Ross Stores in the second quarter valued at approximately $476,200,000. 86.86% of the stock is owned by institutional investors.

About Ross Stores

Ross Stores, Inc. is an off-price retailer operating Ross Dress for Less and dd’s DISCOUNTS. Its stores offer name-brand and designer merchandise at discounted prices, with product selection and availability varying by location and season. Ross Dress for Less sells apparel, footwear, accessories, home fashions, furnishings, and other merchandise for the whole family. dd’s DISCOUNTS offers a similar off-price assortment, including clothing, shoes, home goods, and related products. The company traces its origins to a department store founded in San Bruno, California, in 1950.