Ross Stores, Inc. (ROST) Receives Average Recommendation of “Buy” from Analysts

Ross Stores, Inc. (NASDAQ:ROST) has received an average rating of “Buy” from the twenty-five analysts that are currently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, nine have given a hold recommendation and fifteen have issued a buy recommendation on the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $74.00.

ROST has been the subject of several analyst reports. MKM Partners raised their target price on shares of Ross Stores from $77.00 to $78.00 and gave the stock a “buy” rating in a report on Friday, August 18th. Bank of America Corporation restated a “buy” rating and issued a $80.00 target price on shares of Ross Stores in a report on Sunday, August 20th. Instinet restated a “buy” rating and issued a $74.00 target price on shares of Ross Stores in a report on Sunday, August 20th. Deutsche Bank AG restated a “buy” rating and issued a $75.00 target price on shares of Ross Stores in a report on Monday, August 21st. Finally, Zacks Investment Research upgraded shares of Ross Stores from a “hold” rating to a “buy” rating and set a $60.00 target price for the company in a report on Monday, August 21st.

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Shares of Ross Stores (NASDAQ ROST) traded up $6.56 during trading hours on Friday, hitting $72.25. 2,543,042 shares of the company’s stock were exchanged, compared to its average volume of 2,500,157. Ross Stores has a 1-year low of $52.85 and a 1-year high of $73.94. The stock has a market cap of $27,859.02, a PE ratio of 23.08, a P/E/G ratio of 2.24 and a beta of 1.10. The company has a quick ratio of 0.76, a current ratio of 1.64 and a debt-to-equity ratio of 0.14.

Ross Stores (NASDAQ:ROST) last issued its quarterly earnings data on Thursday, November 16th. The apparel retailer reported $0.72 EPS for the quarter, topping analysts’ consensus estimates of $0.67 by $0.05. Ross Stores had a net margin of 8.93% and a return on equity of 43.48%. The business had revenue of $3.33 billion during the quarter, compared to analysts’ expectations of $3.26 billion. During the same period last year, the company posted $0.62 EPS. The business’s revenue was up 7.8% on a year-over-year basis. equities research analysts forecast that Ross Stores will post 3.28 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 1st will be given a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.89%. The ex-dividend date is Thursday, November 30th. Ross Stores’s payout ratio is currently 20.45%.

In other news, CEO Barbara Rentler sold 15,492 shares of Ross Stores stock in a transaction that occurred on Tuesday, September 12th. The shares were sold at an average price of $61.00, for a total value of $945,012.00. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Brian R. Morrow sold 6,157 shares of Ross Stores stock in a transaction that occurred on Wednesday, October 4th. The stock was sold at an average price of $65.30, for a total transaction of $402,052.10. The disclosure for this sale can be found here. 2.30% of the stock is owned by insiders.

Several institutional investors have recently modified their holdings of ROST. Fox Run Management L.L.C. purchased a new position in shares of Ross Stores in the 2nd quarter worth approximately $202,000. LS Investment Advisors LLC grew its position in Ross Stores by 8.7% during the 2nd quarter. LS Investment Advisors LLC now owns 11,237 shares of the apparel retailer’s stock worth $649,000 after purchasing an additional 897 shares during the last quarter. Louisiana State Employees Retirement System grew its position in Ross Stores by 0.4% during the 2nd quarter. Louisiana State Employees Retirement System now owns 24,300 shares of the apparel retailer’s stock worth $1,403,000 after purchasing an additional 100 shares during the last quarter. Alpha Windward LLC grew its position in Ross Stores by 45.1% during the 2nd quarter. Alpha Windward LLC now owns 4,314 shares of the apparel retailer’s stock worth $249,000 after purchasing an additional 1,340 shares during the last quarter. Finally, US Bancorp DE grew its position in Ross Stores by 11.4% during the 2nd quarter. US Bancorp DE now owns 151,423 shares of the apparel retailer’s stock worth $8,741,000 after purchasing an additional 15,545 shares during the last quarter. 90.51% of the stock is currently owned by hedge funds and other institutional investors.

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.

Analyst Recommendations for Ross Stores (NASDAQ:ROST)

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