Ross Stores (NASDAQ:ROST) Price Target Lowered to $80.00 at Loop Capital

Ross Stores (NASDAQ:ROST – Get Rating) had its price objective reduced by Loop Capital from $95.00 to $80.00 in a report issued on Friday morning, The Fly reports. They currently have a hold rating on the apparel retailer’s stock.

Other research analysts also recently issued research reports about the stock. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Ross Stores from $122.00 to $123.00 in a research note on Monday, May 16th. Citigroup cut their target price on shares of Ross Stores from $125.00 to $100.00 and set a buy rating for the company in a research note on Friday. JPMorgan Chase & Co. cut their target price on shares of Ross Stores from $125.00 to $119.00 in a research note on Monday, May 16th. TheStreet raised shares of Ross Stores from a c+ rating to a b- rating in a research note on Tuesday, May 3rd. Finally, Truist Financial lowered their price target on Ross Stores from $136.00 to $122.00 in a report on Friday, February 18th. Six equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of Buy and a consensus price target of $102.73.

NASDAQ:ROST opened at $78.75 on Friday. The company has a market capitalization of $27.67 billion, a PE ratio of 17.54, a price-to-earnings-growth ratio of 1.84 and a beta of 0.92. The company has a quick ratio of 1.24, a current ratio of 1.77 and a debt-to-equity ratio of 0.60. Ross Stores has a 52-week low of $69.75 and a 52-week high of $127.58. The stock has a fifty day simple moving average of $95.75 and a 200-day simple moving average of $100.64.

Ross Stores (NASDAQ:ROST – Get Rating) last released its quarterly earnings results on Thursday, May 19th. The apparel retailer reported $0.97 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.00 by ($0.03). Ross Stores had a return on equity of 39.79% and a net margin of 8.46%. The firm had revenue of $4.33 billion for the quarter, compared to analyst estimates of $4.54 billion. During the same period last year, the firm earned $1.34 EPS. The company’s quarterly revenue was down 4.1% compared to the same quarter last year. As a group, equities analysts anticipate that Ross Stores will post 5.04 earnings per share for the current year.

Ross Stores announced that its Board of Directors has initiated a share buyback program on Tuesday, March 1st that permits the company to buyback $1.90 billion in shares. This buyback authorization permits the apparel retailer to buy up to 6% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its shares are undervalued.

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 30th. Stockholders of record on Tuesday, June 7th will be issued a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.57%. The ex-dividend date of this dividend is Monday, June 6th. Ross Stores’s payout ratio is currently 27.62%.

Large investors have recently modified their holdings of the company. Advisory Services Network LLC lifted its position in Ross Stores by 52.6% during the 1st quarter. Advisory Services Network LLC now owns 4,371 shares of the apparel retailer’s stock worth $394,000 after acquiring an additional 1,506 shares in the last quarter. Neuberger Berman Group LLC lifted its position in Ross Stores by 15.0% during the 1st quarter. Neuberger Berman Group LLC now owns 14,679 shares of the apparel retailer’s stock worth $1,328,000 after acquiring an additional 1,916 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position in Ross Stores by 59.3% during the 1st quarter. The Manufacturers Life Insurance Company now owns 493,575 shares of the apparel retailer’s stock worth $44,989,000 after acquiring an additional 183,649 shares in the last quarter. Toroso Investments LLC lifted its position in Ross Stores by 62.3% during the 1st quarter. Toroso Investments LLC now owns 15,489 shares of the apparel retailer’s stock worth $1,401,000 after acquiring an additional 5,943 shares in the last quarter. Finally, Walleye Capital LLC lifted its position in Ross Stores by 8.9% during the 1st quarter. Walleye Capital LLC now owns 174,856 shares of the apparel retailer’s stock worth $15,817,000 after acquiring an additional 14,259 shares in the last quarter. Institutional investors and hedge funds own 87.02% of the company’s stock.

Ross Stores Company Profile (Get Rating)

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 brand names. 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 for households with moderate income.

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