BidaskClub cut shares of Ross Stores (NASDAQ:ROST) from a strong-buy rating to a buy rating in a report issued on Friday morning, BidAskClub reports.
Other research analysts have also issued research reports about the company. Wells Fargo & Co raised their target price on Ross Stores from $116.00 to $125.00 and gave the company a buy rating in a report on Friday, November 22nd. They noted that the move was a valuation call. Robert W. Baird reiterated an outperform rating and issued a $114.00 target price (up previously from $108.00) on shares of Ross Stores in a research note on Friday, August 23rd. Bank of America set a $120.00 target price on shares of Ross Stores and gave the company a buy rating in a report on Friday, August 23rd. Barclays initiated coverage on shares of Ross Stores in a report on Tuesday, November 12th. They issued an overweight rating and a $124.00 target price for the company. Finally, ValuEngine lowered shares of Ross Stores from a buy rating to a hold rating in a research report on Wednesday, September 4th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and thirteen have assigned a buy rating to the stock. The stock has an average rating of Buy and an average target price of $114.50.
Shares of Ross Stores stock opened at $113.91 on Friday. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.50 and a current ratio of 1.26. Ross Stores has a 52 week low of $75.91 and a 52 week high of $117.58. The stock has a 50 day moving average price of $112.45 and a two-hundred day moving average price of $105.97. The stock has a market capitalization of $41.20 billion, a PE ratio of 26.74, a price-to-earnings-growth ratio of 2.38 and a beta of 0.81.
Ross Stores (NASDAQ:ROST) last issued its earnings results on Thursday, November 21st. The apparel retailer reported $1.03 earnings per share for the quarter, topping analysts’ consensus estimates of $0.97 by $0.06. Ross Stores had a return on equity of 49.88% and a net margin of 10.47%. The company had revenue of $3.85 billion for the quarter, compared to analyst estimates of $3.77 billion. During the same period in the prior year, the firm earned $0.91 earnings per share. Ross Stores’s revenue for the quarter was up 8.4% on a year-over-year basis. Research analysts forecast that Ross Stores will post 4.57 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 6th will be paid a $0.255 dividend. This represents a $1.02 dividend on an annualized basis and a yield of 0.90%. The ex-dividend date is Thursday, December 5th. Ross Stores’s payout ratio is 23.94%.
In other Ross Stores news, CEO Barbara Rentler sold 25,000 shares of the business’s stock in a transaction on Monday, September 30th. The stock was sold at an average price of $110.01, for a total value of $2,750,250.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider James S. Fassio sold 15,000 shares of the business’s stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $108.66, for a total value of $1,629,900.00. 2.30% of the stock is owned by corporate insiders.
Several hedge funds have recently bought and sold shares of the company. Bailard Inc. grew its holdings in Ross Stores by 2.5% during the 3rd quarter. Bailard Inc. now owns 4,104 shares of the apparel retailer’s stock valued at $451,000 after buying an additional 99 shares in the last quarter. TrinityPoint Wealth LLC grew its stake in Ross Stores by 4.0% during the second quarter. TrinityPoint Wealth LLC now owns 2,619 shares of the apparel retailer’s stock valued at $277,000 after acquiring an additional 101 shares in the last quarter. Benjamin Edwards Inc. grew its stake in Ross Stores by 12.3% during the third quarter. Benjamin Edwards Inc. now owns 984 shares of the apparel retailer’s stock valued at $108,000 after acquiring an additional 108 shares in the last quarter. ETF Managers Group LLC grew its stake in Ross Stores by 6.0% during the second quarter. ETF Managers Group LLC now owns 1,955 shares of the apparel retailer’s stock valued at $197,000 after acquiring an additional 111 shares in the last quarter. Finally, Rowland & Co. Investment Counsel ADV increased its holdings in Ross Stores by 1.3% during the 3rd quarter. Rowland & Co. Investment Counsel ADV now owns 8,841 shares of the apparel retailer’s stock worth $972,000 after acquiring an additional 111 shares during the period. Institutional investors own 87.25% 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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