Ross Stores, Inc. (NASDAQ:ROST) Receives $263.76 Average PT from Analysts

Shares of Ross Stores, Inc. (NASDAQ:ROST) have earned an average recommendation of “Moderate Buy” from the twenty-one analysts that are currently covering the firm, Marketbeat.com reports. Six equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating on the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $263.7647.

Several analysts have recently issued reports on the company. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $294.00 price target on shares of Ross Stores in a research note on Friday, August 21st. Morgan Stanley boosted their target price on Ross Stores from $231.00 to $234.00 and gave the stock an “equal weight” rating in a report on Friday, August 21st. Barclays upped their target price on Ross Stores from $260.00 to $298.00 and gave the stock an “overweight” rating in a research report on Friday, August 21st. Jefferies Financial Group increased their price target on Ross Stores from $265.00 to $285.00 and gave the company a “buy” rating in a report on Friday, August 21st. Finally, The Goldman Sachs Group reiterated a “buy” rating and set a $270.00 price target on shares of Ross Stores in a report on Friday, May 22nd.

Ross Stores Price Performance

ROST stock opened at $228.55 on Monday. The company has a current ratio of 1.61, a quick ratio of 0.98 and a debt-to-equity ratio of 0.12. Ross Stores has a 1 year low of $143.39 and a 1 year high of $257.00. The company has a fifty day simple moving average of $233.95 and a 200 day simple moving average of $223.66. The firm has a market cap of $73.31 billion, a PE ratio of 27.67, a PEG ratio of 1.92 and a beta of 0.86.

Ross Stores (NASDAQ:ROST) last issued 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. Ross Stores had a net margin of 10.85% and a return on equity of 39.29%. The firm had revenue of $6.26 billion during the quarter, compared to analysts’ expectations of $6.16 billion. During the same period in the prior year, the company posted $1.56 earnings per share. Ross Stores’s revenue for the quarter was up 13.3% on a year-over-year basis. Sell-side analysts anticipate that Ross Stores will post 8.15 EPS for the current fiscal year.

Ross Stores Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 8th will be issued a dividend of $0.445 per share. This represents a $1.78 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend is Tuesday, September 8th. Ross Stores’s dividend payout ratio is currently 21.55%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of ROST. Woodline Partners LP increased its stake in shares of Ross Stores by 39.9% in the first quarter. Woodline Partners LP now owns 27,875 shares of the apparel retailer’s stock worth $3,562,000 after purchasing an additional 7,951 shares during the period. Geneos Wealth Management Inc. lifted its position in shares of Ross Stores by 23.5% during the 1st quarter. Geneos Wealth Management Inc. now owns 615 shares of the apparel retailer’s stock worth $79,000 after purchasing an additional 117 shares during the last quarter. NewEdge Advisors LLC boosted its stake in Ross Stores by 35.8% during the 2nd quarter. NewEdge Advisors LLC now owns 10,581 shares of the apparel retailer’s stock valued at $1,350,000 after purchasing an additional 2,792 shares during the period. Treasurer of the State of North Carolina boosted its stake in Ross Stores by 1.0% during the 2nd quarter. Treasurer of the State of North Carolina now owns 150,491 shares of the apparel retailer’s stock valued at $19,200,000 after purchasing an additional 1,508 shares during the period. Finally, Main Street Financial Solutions LLC boosted its stake in Ross Stores by 2.2% during the 2nd quarter. Main Street Financial Solutions LLC now owns 12,580 shares of the apparel retailer’s stock valued at $1,605,000 after purchasing an additional 265 shares during the period. Institutional investors own 86.86% of the company’s stock.

About Ross Stores

Ross Stores, Inc (NASDAQ: ROST) is an American off?price retailer headquartered in Dublin, California, that operates the Ross Dress for Less and dd’s DISCOUNTS store formats. The company sells a broad assortment of apparel, footwear, home fashions, accessories and other soft goods, positioning itself as a value-oriented destination for brand?name and fashion merchandise at reduced prices.

Ross’s business model centers on opportunistic buying of excess inventory, closeouts, cancelled orders and overstocks from manufacturers, department stores and other suppliers.