Ross Stores, Inc. (NASDAQ:ROST) Given Consensus Rating of “Buy” by Analysts

Ross Stores, Inc. (NASDAQ:ROST) has received an average rating of “Buy” from the eighteen brokerages that are covering the company, Marketbeat reports. Two equities research analysts have rated the stock with a hold recommendation and fourteen have issued a buy recommendation on the company. The average 12 month price objective among brokers that have covered the stock in the last year is $131.43.

Several research firms have commented on ROST. Telsey Advisory Group lifted their price target on Ross Stores from $130.00 to $145.00 and gave the company an “outperform” rating in a report on Monday, May 17th. OTR Global raised Ross Stores from a “mixed” rating to a “positive” rating in a research note on Monday, May 3rd. Northcoast Research raised Ross Stores from a “neutral” rating to a “buy” rating and set a $147.00 price objective on the stock in a research note on Wednesday, May 19th. UBS Group lifted their price objective on Ross Stores from $120.00 to $130.00 and gave the company a “neutral” rating in a research note on Wednesday, May 12th. Finally, Loop Capital lifted their price objective on Ross Stores from $130.00 to $145.00 and gave the company a “buy” rating in a research note on Thursday, April 15th.

In other news, insider Michael Balmuth sold 49,377 shares of the business’s stock in a transaction that occurred on Friday, May 28th. The stock was sold at an average price of $126.03, for a total value of $6,222,983.31. Following the completion of the sale, the insider now directly owns 49,145 shares in the company, valued at approximately $6,193,744.35. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Barbara Rentler sold 45,623 shares of the business’s stock in a transaction that occurred on Monday, March 15th. The shares were sold at an average price of $123.73, for a total value of $5,644,933.79. Following the completion of the sale, the chief executive officer now owns 311,526 shares of the company’s stock, valued at $38,545,111.98. The disclosure for this sale can be found here. Insiders sold a total of 197,741 shares of company stock valued at $24,497,649 over the last quarter. Company insiders own 2.00% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the company. Norges Bank bought a new position in Ross Stores during the 4th quarter worth $443,766,000. Alliancebernstein L.P. grew its stake in Ross Stores by 182.5% during the 1st quarter. Alliancebernstein L.P. now owns 1,965,693 shares of the apparel retailer’s stock worth $235,706,000 after buying an additional 1,269,771 shares during the last quarter. UBS Asset Management Americas Inc. grew its stake in Ross Stores by 88.2% during the 1st quarter. UBS Asset Management Americas Inc. now owns 2,551,704 shares of the apparel retailer’s stock worth $305,975,000 after buying an additional 1,195,520 shares during the last quarter. Oak Ridge Investments LLC grew its stake in Ross Stores by 1,074.1% during the 1st quarter. Oak Ridge Investments LLC now owns 1,165,950 shares of the apparel retailer’s stock worth $139,809,000 after buying an additional 1,066,646 shares during the last quarter. Finally, Primecap Management Co. CA grew its stake in Ross Stores by 6.1% during the 1st quarter. Primecap Management Co. CA now owns 11,642,189 shares of the apparel retailer’s stock worth $1,396,015,000 after buying an additional 672,600 shares during the last quarter. Institutional investors and hedge funds own 83.98% of the company’s stock.

ROST opened at $117.97 on Friday. The company has a quick ratio of 1.33, a current ratio of 1.72 and a debt-to-equity ratio of 0.67. The stock has a market cap of $42.07 billion, a PE ratio of 48.35, a price-to-earnings-growth ratio of 2.88 and a beta of 1.03. The company has a 50-day simple moving average of $126.10. Ross Stores has a 12 month low of $79.65 and a 12 month high of $134.21.

Ross Stores (NASDAQ:ROST) last posted its quarterly earnings results on Wednesday, May 19th. The apparel retailer reported $1.34 EPS for the quarter, beating the consensus estimate of $0.90 by $0.44. The company had revenue of $4.52 billion during the quarter, compared to analysts’ expectations of $3.80 billion. Ross Stores had a return on equity of 32.44% and a net margin of 5.71%. The firm’s revenue was up 145.1% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.29) EPS. Equities research analysts predict that Ross Stores will post 4.3 EPS for the current year.

Ross Stores declared that its Board of Directors has initiated a share buyback plan on Thursday, May 20th that allows the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization allows the apparel retailer to repurchase up to 3.4% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 30th. Shareholders of record on Tuesday, June 8th will be given a $0.285 dividend. This represents a $1.14 dividend on an annualized basis and a dividend yield of 0.97%. The ex-dividend date is Monday, June 7th. Ross Stores’s payout ratio is 97.44%.

Ross Stores Company Profile

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 offer 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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Analyst Recommendations for Ross Stores (NASDAQ:ROST)

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