Cowen set a $78.00 target price on Ross Stores (NASDAQ:ROST) in a research report sent to investors on Saturday, November 18th. The brokerage currently has a buy rating on the apparel retailer’s stock.
ROST has been the subject of a number of other reports. Royal Bank Of Canada reissued a hold rating and issued a $62.00 target price on shares of Ross Stores in a report on Monday, September 18th. Wolfe Research lowered their price target on Ross Stores from $76.00 to $73.00 and set an outperform rating for the company in a research report on Friday, August 18th. Zacks Investment Research downgraded Ross Stores from a buy rating to a hold rating in a research report on Tuesday, August 8th. Bank of America reiterated a buy rating and set a $80.00 target price on shares of Ross Stores in a research report on Sunday, August 20th. Finally, BMO Capital Markets set a $65.00 price objective on Ross Stores and gave the company a hold rating in a report on Tuesday, August 8th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and fifteen have issued a buy rating to the company. Ross Stores presently has a consensus rating of Buy and a consensus target price of $73.71.
Shares of Ross Stores (ROST) traded down $0.09 during trading hours on Friday, hitting $76.70. 1,748,860 shares of the stock traded hands, compared to its average volume of 2,967,647. Ross Stores has a 52-week low of $52.85 and a 52-week high of $78.81. The company has a quick ratio of 0.68, a current ratio of 1.57 and a debt-to-equity ratio of 0.14. The company has a market cap of $29,698.30, a PE ratio of 24.61, a PEG ratio of 2.35 and a beta of 1.16.
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. Ross Stores had a net margin of 8.93% and a return on equity of 43.21%. The company had revenue of $3.33 billion for the quarter, compared to analysts’ expectations of $3.26 billion. During the same quarter last year, the business earned $0.62 EPS. The firm’s revenue was up 7.8% compared to the same quarter last year. equities analysts forecast that Ross Stores will post 3.28 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, December 1st will be paid a $0.16 dividend. The ex-dividend date of this dividend is Thursday, November 30th. This represents a $0.64 annualized dividend and a dividend yield of 0.83%. Ross Stores’s dividend payout ratio (DPR) is currently 20.45%.
In other news, insider Brian R. Morrow sold 6,157 shares of the business’s stock in a transaction on Wednesday, October 4th. The stock was 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 is available through the SEC website. Also, CEO Barbara Rentler sold 15,492 shares of the business’s stock in a transaction on Tuesday, September 12th. The stock was sold at an average price of $61.00, for a total value of $945,012.00. The disclosure for this sale can be found here. Company insiders own 2.30% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Balentine LLC grew its position in shares of Ross Stores by 0.3% in 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 during the period. Parkside Financial Bank & Trust grew its position in 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 acquiring an additional 61 shares during the period. Acrospire Investment Management LLC grew its position in 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 acquiring an additional 1,000 shares during the period. Zions Bancorporation boosted its position in shares of Ross Stores by 338.9% in the third quarter. Zions Bancorporation now owns 2,120 shares of the apparel retailer’s stock worth $137,000 after buying an additional 1,637 shares during the period. Finally, Welch Group LLC boosted its position in shares of Ross Stores by 35.2% in the second quarter. Welch Group LLC now owns 2,752 shares of the apparel retailer’s stock worth $159,000 after buying an additional 716 shares during the period. 90.93% of the stock is owned by 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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