Ross Stores, Inc. (NASDAQ:ROST) has been assigned an average recommendation of “Buy” from the twenty-seven research firms that are currently covering the stock, MarketBeat reports. Ten analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $97.91.
Several research firms have commented on ROST. BidaskClub raised shares of Ross Stores from a “hold” rating to a “buy” rating in a research note on Wednesday, June 12th. Zacks Investment Research upgraded shares of Ross Stores from a “sell” rating to a “hold” rating in a report on Monday, May 13th. Guggenheim reiterated a “buy” rating and issued a $105.00 price target on shares of Ross Stores in a report on Friday, May 24th. Credit Suisse Group lifted their price target on shares of Ross Stores from $95.00 to $100.00 and gave the company an “outperform” rating in a report on Wednesday, March 6th. Finally, DA Davidson lifted their price target on shares of Ross Stores to $92.00 and gave the company a “neutral” rating in a report on Thursday, March 7th.
ROST stock traded up $0.59 during midday trading on Monday, hitting $101.56. The stock had a trading volume of 118,869 shares, compared to its average volume of 2,733,155. The company has a market cap of $36.82 billion, a price-to-earnings ratio of 23.90, a PEG ratio of 2.15 and a beta of 0.89. The company has a current ratio of 1.34, a quick ratio of 0.64 and a debt-to-equity ratio of 0.87. Ross Stores has a 12-month low of $75.91 and a 12-month high of $104.35. The business has a 50-day moving average price of $96.18.
Ross Stores (NASDAQ:ROST) last released its earnings results on Thursday, May 23rd. The apparel retailer reported $1.13 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.12 by $0.01. The firm had revenue of $3.80 billion during the quarter, compared to analysts’ expectations of $3.79 billion. Ross Stores had a net margin of 10.47% and a return on equity of 48.92%. Ross Stores’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same period in the previous year, the company earned $1.11 EPS. On average, equities research analysts anticipate that Ross Stores will post 4.51 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Tuesday, June 11th will be issued a dividend of $0.255 per share. The ex-dividend date is Monday, June 10th. This represents a $1.02 annualized dividend and a dividend yield of 1.00%. Ross Stores’s payout ratio is 23.94%.
Ross Stores declared that its board has authorized a stock buyback plan on Tuesday, March 5th that allows the company to buyback $2.55 billion in outstanding shares. This buyback authorization allows the apparel retailer to reacquire up to 7.3% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.
In related news, CEO Barbara Rentler sold 40,000 shares of Ross Stores stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $99.16, for a total transaction of $3,966,400.00. Following the transaction, the chief executive officer now owns 473,922 shares in the company, valued at approximately $46,994,105.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Michael J. Hartshorn sold 9,924 shares of Ross Stores stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $91.48, for a total transaction of $907,847.52. The disclosure for this sale can be found here. Insiders have sold a total of 200,357 shares of company stock worth $18,790,335 in the last 90 days. Company insiders own 2.30% of the company’s stock.
Several large investors have recently bought and sold shares of the stock. Nordea Investment Management AB increased its position in shares of Ross Stores by 17.9% in the 1st quarter. Nordea Investment Management AB now owns 868,185 shares of the apparel retailer’s stock worth $80,828,000 after purchasing an additional 131,730 shares during the last quarter. Cerebellum GP LLC bought a new stake in shares of Ross Stores in the 1st quarter worth about $326,000. Accident Compensation Corp bought a new stake in shares of Ross Stores in the 1st quarter worth about $205,000. Clearbridge Investments LLC increased its position in shares of Ross Stores by 4.1% in the 1st quarter. Clearbridge Investments LLC now owns 1,170,464 shares of the apparel retailer’s stock worth $108,970,000 after purchasing an additional 45,713 shares during the last quarter. Finally, Belpointe Asset Management LLC bought a new stake in shares of Ross Stores in the 1st quarter worth about $191,000. Institutional investors and hedge funds own 88.91% of the company’s stock.
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. Its stores 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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