Shares of Ross Stores, Inc. (NASDAQ:ROST – Get Free Report) have received an average recommendation of “Moderate Buy” from the twenty research firms that are currently covering the company, Marketbeat reports. Four equities research analysts have rated the stock with a hold recommendation, fourteen have issued a buy recommendation and two have issued a strong buy recommendation on the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $263.76.
Several equities research analysts recently weighed in on ROST shares. Telsey Advisory Group boosted their price target on shares of Ross Stores from $265.00 to $280.00 and gave the stock an “outperform” rating in a research report on Friday, August 14th. Zacks Research upgraded shares of Ross Stores from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 6th. Jefferies Financial Group increased their price objective on shares of Ross Stores from $265.00 to $285.00 and gave the company a “buy” rating in a research report on Friday, August 21st. Morgan Stanley lifted their price objective on shares of Ross Stores from $231.00 to $234.00 and gave the stock an “equal weight” rating in a research note on Friday, August 21st. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $294.00 target price on shares of Ross Stores in a report on Friday, August 21st.
Read Our Latest Stock Analysis on ROST
Ross Stores Stock Performance
NASDAQ ROST opened at $238.66 on Tuesday. The stock has a market capitalization of $76.24 billion, a PE ratio of 28.89, a P/E/G ratio of 1.99 and a beta of 0.83. The business has a 50 day simple moving average of $232.50 and a two-hundred day simple moving average of $229.71. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.61 and a quick ratio of 0.98. Ross Stores has a 1-year low of $154.87 and a 1-year high of $257.00.
Ross Stores (NASDAQ:ROST – Get Free Report) last released its quarterly earnings data on Thursday, August 20th. The apparel retailer reported $2.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.95 by $0.71. The business had revenue of $6.26 billion for the quarter, compared to the consensus estimate of $6.16 billion. Ross Stores had a return on equity of 39.29% and a net margin of 10.85%. The company’s revenue was up 13.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.56 EPS. On average, research analysts predict that Ross Stores will post 8.15 EPS for the current fiscal year.
Ross Stores Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Tuesday, September 8th were issued a $0.4450 dividend. The ex-dividend date of this dividend was Tuesday, September 8th. This represents a $1.78 dividend on an annualized basis and a dividend yield of 0.7%. Ross Stores’s dividend payout ratio (DPR) is presently 21.55%.
Insider Activity
In other Ross Stores news, insider Stephen C. Brinkley sold 6,424 shares of the company’s stock in a transaction that occurred on Monday, September 14th. The stock was sold at an average price of $229.66, for a total transaction of $1,475,335.84. Following the sale, the insider directly owned 51,665 shares in the company, valued at $11,865,383.90. This represents a 11.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO James Conroy sold 49,205 shares of the firm’s stock in a transaction that occurred on Monday, September 14th. The shares were sold at an average price of $229.48, for a total value of $11,291,563.40. Following the completion of the sale, the chief executive officer directly owned 134,349 shares of the company’s stock, valued at $30,830,408.52. The trade was a 26.81% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 2.10% of the company’s stock.
Hedge Funds Weigh In On Ross Stores
Institutional investors and hedge funds have recently modified their holdings of the stock. Net Worth Advisory Group increased its position in shares of Ross Stores by 4.2% during the 3rd quarter. Net Worth Advisory Group now owns 1,047 shares of the apparel retailer’s stock valued at $245,000 after purchasing an additional 42 shares during the period. Greenleaf Trust raised its stake in shares of Ross Stores by 0.9% in the 2nd quarter. Greenleaf Trust now owns 6,026 shares of the apparel retailer’s stock worth $1,283,000 after buying an additional 51 shares in the last quarter. Cooper Financial Group lifted its holdings in shares of Ross Stores by 2.8% in the second quarter. Cooper Financial Group now owns 1,919 shares of the apparel retailer’s stock valued at $409,000 after buying an additional 52 shares during the period. RFG Advisory LLC lifted its holdings in shares of Ross Stores by 3.8% in the second quarter. RFG Advisory LLC now owns 1,430 shares of the apparel retailer’s stock valued at $304,000 after buying an additional 52 shares during the period. Finally, Eastern Bank boosted its stake in Ross Stores by 0.5% during the third quarter. Eastern Bank now owns 10,557 shares of the apparel retailer’s stock valued at $2,464,000 after buying an additional 57 shares in the last quarter. Hedge funds and other institutional investors own 86.86% of the company’s stock.
About Ross Stores
Ross Stores, Inc is an off-price apparel and home fashion retailer headquartered in Dublin, California. The company operates primarily through its Ross Dress for Less stores, which offer branded and designer apparel, accessories, footwear, and home merchandise at discounts to regular department and specialty store prices.
Ross Stores also operates dd’s DISCOUNTS, a chain focused on value-oriented apparel, accessories, footwear, and home products. Both retail formats generally purchase merchandise opportunistically from manufacturers, department stores, and other suppliers, allowing the company to offer changing assortments and discounted prices.
Founded in 1950, Ross Stores serves customers across the United States through its store network and e-commerce presence.
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