Ross Stores Inc. (NASDAQ:ROST)‘s stock had its “buy” rating reiterated by equities researchers at Guggenheim in a research note issued on Friday. They currently have a $70.00 price target on the apparel retailer’s stock. Guggenheim’s target price suggests a potential upside of 8.98% from the company’s previous close.
Other equities analysts also recently issued reports about the stock. Vetr raised shares of Ross Stores from a “hold” rating to a “buy” rating and set a $65.00 price objective for the company in a research note on Monday, August 1st. Citigroup Inc. upped their price objective on shares of Ross Stores from $65.00 to $72.00 and gave the company a “buy” rating in a research note on Friday, August 19th. Zacks Investment Research raised shares of Ross Stores from a “hold” rating to a “buy” rating and set a $66.00 price objective for the company in a research note on Wednesday, July 20th. Miller Tabak started coverage on shares of Ross Stores in a research note on Friday, June 24th. They issued a “buy” rating and a $66.00 price target for the company. Finally, Deutsche Bank AG reissued a “buy” rating on shares of Ross Stores in a research note on Tuesday, June 14th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and fifteen have issued a buy rating to the company. Ross Stores presently has an average rating of “Buy” and an average target price of $65.29.
Ross Stores (NASDAQ:ROST) opened at 64.23 on Friday. The stock has a market cap of $25.47 billion, a P/E ratio of 24.45 and a beta of 0.94. Ross Stores has a 52 week low of $43.47 and a 52 week high of $66.28. The stock has a 50 day moving average price of $63.00 and a 200-day moving average price of $58.53.
Ross Stores (NASDAQ:ROST) last issued its quarterly earnings data on Thursday, August 18th. The apparel retailer reported $0.71 EPS for the quarter, beating the consensus estimate of $0.67 by $0.04. The firm earned $3.18 billion during the quarter, compared to the consensus estimate of $3.13 billion. Ross Stores had a net margin of 8.55% and a return on equity of 42.01%. The company’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.63 earnings per share. On average, equities analysts anticipate that Ross Stores will post $2.75 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 30th. Investors of record on Friday, September 2nd were issued a $0.135 dividend. This represents a $0.54 annualized dividend and a yield of 0.84%. The ex-dividend date was Wednesday, August 31st. Ross Stores’s dividend payout ratio is currently 20.53%.
In related news, Director George Orban sold 56,000 shares of the firm’s stock in a transaction that occurred on Friday, July 8th. The shares were sold at an average price of $57.52, for a total value of $3,221,120.00. Following the sale, the director now owns 506,750 shares in the company, valued at $29,148,260. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Barbara Rentler sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, September 19th. The stock was sold at an average price of $62.54, for a total transaction of $1,250,800.00. The disclosure for this sale can be found here. 2.40% of the stock is currently owned by corporate insiders.
A number of large investors have recently modified their holdings of the company. Evercore Wealth Management LLC boosted its stake in shares of Ross Stores by 29.1% in the second quarter. Evercore Wealth Management LLC now owns 1,929 shares of the apparel retailer’s stock valued at $109,000 after buying an additional 435 shares in the last quarter. NN Investment Partners Holdings N.V. bought a new stake in shares of Ross Stores during the first quarter valued at about $140,000. Carroll Financial Associates Inc. boosted its stake in shares of Ross Stores by 0.7% in the second quarter. Carroll Financial Associates Inc. now owns 2,605 shares of the apparel retailer’s stock valued at $147,000 after buying an additional 17 shares in the last quarter. Independent Portfolio Consultants Inc. bought a new stake in shares of Ross Stores during the second quarter valued at about $151,000. Finally, Citizens Financial Group Inc RI boosted its stake in shares of Ross Stores by 51.6% in the first quarter. Citizens Financial Group Inc RI now owns 2,737 shares of the apparel retailer’s stock valued at $159,000 after buying an additional 931 shares in the last quarter. Institutional investors own 90.21% of the company’s stock.
About Ross Stores
Ross Stores, Inc is an off-price retailer of name brand and designer apparel, accessories, footwear, and home fashions for the entire family. The Company operates two brands of off-price retail apparel and home fashion stores, Ross Dress for Less (Ross) and dd’s DISCOUNTS. As of December 31, 2014, the Company operated 1,210 Ross locations in 33 states, the District of Columbia and Guam, and 152 dd’s DISCOUNTS stores in 15 states.
Receive News & Ratings for Ross Stores Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ross Stores Inc. and related companies with MarketBeat.com's FREE daily email newsletter.