Ross Stores (NASDAQ:ROST) had its price target boosted by research analysts at Loop Capital from $88.00 to $95.00 in a report released on Wednesday. The firm currently has a “buy” rating on the apparel retailer’s stock. Loop Capital’s price objective suggests a potential upside of 11.63% from the stock’s current price.
A number of other research analysts have also commented on the stock. Wedbush began coverage on shares of Ross Stores in a research report on Friday, June 22nd. They set a “neutral” rating and a $90.00 price target for the company. UBS Group began coverage on shares of Ross Stores in a research report on Thursday, June 21st. They set a “neutral” rating and a $90.00 price target for the company. Susquehanna Bancshares restated a “positive” rating on shares of Ross Stores in a research report on Thursday, June 7th. BidaskClub upgraded shares of Ross Stores from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, June 5th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Ross Stores from $92.00 to $98.00 and gave the company an “overweight” rating in a research report on Monday, June 4th. Eight analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $85.04.
Ross Stores stock opened at $85.10 on Wednesday. The company has a market capitalization of $32.16 billion, a P/E ratio of 25.48, a price-to-earnings-growth ratio of 2.11 and a beta of 1.06. The company has a quick ratio of 0.74, a current ratio of 1.64 and a debt-to-equity ratio of 0.10. Ross Stores has a 1-year low of $52.85 and a 1-year high of $87.22.
Ross Stores (NASDAQ:ROST) last released its quarterly earnings results on Thursday, May 24th. The apparel retailer reported $1.11 EPS for the quarter, beating analysts’ consensus estimates of $1.07 by $0.04. The firm had revenue of $3.59 billion during the quarter, compared to analyst estimates of $3.54 billion. Ross Stores had a net margin of 10.13% and a return on equity of 46.48%. The business’s revenue for the quarter was up 8.5% on a year-over-year basis. During the same period in the previous year, the business earned $0.82 EPS. sell-side analysts forecast that Ross Stores will post 4.05 EPS for the current year.
Ross Stores announced that its board has authorized a stock repurchase program on Tuesday, March 6th that allows the company to repurchase $200.00 million in shares. This repurchase authorization allows the apparel retailer to repurchase shares of its stock through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.
In other Ross Stores news, Director Michael J. Bush sold 1,500 shares of the business’s stock in a transaction on Monday, June 11th. The shares were sold at an average price of $85.73, for a total value of $128,595.00. Following the completion of the sale, the director now directly owns 30,091 shares of the company’s stock, valued at $2,579,701.43. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Barbara Rentler sold 32,430 shares of the business’s stock in a transaction on Thursday, April 5th. The stock was sold at an average price of $79.53, for a total transaction of $2,579,157.90. Following the completion of the sale, the chief executive officer now directly owns 534,318 shares of the company’s stock, valued at $42,494,310.54. The disclosure for this sale can be found here. Insiders sold 296,169 shares of company stock valued at $24,914,591 over the last three months. 2.30% of the stock is currently owned by insiders.
Institutional investors have recently bought and sold shares of the business. Tiemann Investment Advisors LLC bought a new stake in Ross Stores in the fourth quarter worth $227,000. Paloma Partners Management Co lifted its stake in Ross Stores by 53.7% in the fourth quarter. Paloma Partners Management Co now owns 10,543 shares of the apparel retailer’s stock worth $846,000 after purchasing an additional 3,685 shares during the last quarter. Sands Capital Management LLC lifted its stake in Ross Stores by 574.3% in the fourth quarter. Sands Capital Management LLC now owns 77,121 shares of the apparel retailer’s stock worth $6,189,000 after purchasing an additional 65,683 shares during the last quarter. Xact Kapitalforvaltning AB lifted its stake in Ross Stores by 5.9% in the fourth quarter. Xact Kapitalforvaltning AB now owns 82,583 shares of the apparel retailer’s stock worth $6,627,000 after purchasing an additional 4,637 shares during the last quarter. Finally, Amundi Pioneer Asset Management Inc. lifted its stake in Ross Stores by 63.4% in the fourth quarter. Amundi Pioneer Asset Management Inc. now owns 5,456,503 shares of the apparel retailer’s stock worth $437,885,000 after purchasing an additional 2,117,771 shares during the last quarter. 88.01% of the stock is owned by institutional investors and hedge funds.
About Ross Stores
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.
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