Nomura set a $80.00 price objective on Ross Stores (NASDAQ:ROST) in a report published on Friday, November 17th. The brokerage currently has a buy rating on the apparel retailer’s stock.
A number of other equities analysts have also recently weighed in on ROST. BidaskClub raised shares of Ross Stores from a strong sell rating to a sell rating in a research report on Monday, July 31st. Credit Suisse Group reaffirmed a neutral rating and issued a $64.00 price objective (down from $70.00) on shares of Ross Stores in a research report on Wednesday, August 2nd. Zacks Investment Research cut shares of Ross Stores from a buy rating to a hold rating in a research report on Tuesday, August 8th. BMO Capital Markets set a $65.00 price target on shares of Ross Stores and gave the stock a hold rating in a research report on Tuesday, August 8th. Finally, UBS cut their price target on shares of Ross Stores from $70.00 to $64.00 and set a neutral rating on the stock in a research report on Friday, August 18th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and fifteen have given a buy rating to the stock. Ross Stores has an average rating of Buy and a consensus target price of $73.71.
Shares of Ross Stores (NASDAQ ROST) opened at $78.01 on Friday. The company has a current ratio of 1.57, a quick ratio of 0.68 and a debt-to-equity ratio of 0.14. Ross Stores has a fifty-two week low of $52.85 and a fifty-two week high of $78.81. The company has a market cap of $30,080.00, a price-to-earnings ratio of 24.19, a price-to-earnings-growth ratio of 2.31 and a beta of 1.15.
Ross Stores (NASDAQ:ROST) last released its earnings results on Thursday, November 16th. The apparel retailer reported $0.72 EPS for the quarter, topping analysts’ consensus estimates of $0.67 by $0.05. The firm had revenue of $3.33 billion during the quarter, compared to analyst estimates of $3.26 billion. Ross Stores had a net margin of 8.93% and a return on equity of 43.21%. The business’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.62 EPS. equities analysts forecast that Ross Stores will post 3.28 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Friday, December 1st will be paid a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 0.82%. The ex-dividend date is Thursday, November 30th. Ross Stores’s payout ratio is 20.45%.
In other Ross Stores news, insider Brian R. Morrow sold 6,157 shares of the firm’s stock in a transaction on Wednesday, October 4th. The shares were sold at an average price of $65.30, for a total value of $402,052.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Barbara Rentler sold 15,492 shares of the firm’s stock in a transaction on Tuesday, September 12th. The shares were sold at an average price of $61.00, for a total transaction of $945,012.00. The disclosure for this sale can be found here. 2.30% of the stock is owned by corporate insiders.
Institutional investors have recently added to or reduced their stakes in the business. Balentine LLC lifted its position in shares of Ross Stores by 0.3% during the second quarter. Balentine LLC now owns 1,775 shares of the apparel retailer’s stock valued at $102,000 after purchasing an additional 5 shares in the last quarter. Parkside Financial Bank & Trust lifted its position in shares of Ross Stores by 3.4% during the second quarter. Parkside Financial Bank & Trust now owns 1,868 shares of the apparel retailer’s stock valued at $108,000 after purchasing an additional 61 shares in the last quarter. Acrospire Investment Management LLC lifted its position in shares of Ross Stores by 100.0% during the second quarter. Acrospire Investment Management LLC now owns 2,000 shares of the apparel retailer’s stock valued at $115,000 after purchasing an additional 1,000 shares in the last quarter. Zions Bancorporation lifted its position in shares of Ross Stores by 338.9% during the third quarter. Zions Bancorporation now owns 2,120 shares of the apparel retailer’s stock valued at $137,000 after purchasing an additional 1,637 shares in the last quarter. Finally, Welch Group LLC lifted its position in shares of Ross Stores by 35.2% during the second quarter. Welch Group LLC now owns 2,752 shares of the apparel retailer’s stock valued at $159,000 after purchasing an additional 716 shares in the last quarter. 90.93% of the stock is currently owned by hedge funds and other institutional investors.
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About Ross Stores
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.
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