Brokerages Set Ross Stores, Inc. (NASDAQ:ROST) Price Target at $263.76

Shares of Ross Stores, Inc. (NASDAQ:ROST) have been given an average rating of “Moderate Buy” by the twenty-one research firms that are covering the company, MarketBeat reports. Six analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $263.7647.

A number of analysts have weighed in on the stock. Evercore set a $290.00 price target on shares of Ross Stores in a report on Friday, August 21st. Truist Financial boosted their price objective on shares of Ross Stores from $290.00 to $310.00 and gave the stock a “buy” rating in a report on Friday, August 21st. UBS Group upped their price objective on shares of Ross Stores from $232.00 to $239.00 and gave the company a “neutral” rating in a research report on Friday, August 21st. Barclays increased their target price on shares of Ross Stores from $260.00 to $298.00 and gave the company an “overweight” rating in a research note on Friday, August 21st. Finally, Zacks Research lowered Ross Stores from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 4th.

Key Headlines Impacting Ross Stores

Here are the key news stories impacting Ross Stores this week:

• Positive Sentiment: Ross Stores is attracting shoppers from rival retailers as consumers increasingly seek value. New traffic data indicate that Ross is gaining ground among discount-focused shoppers, a trend that could support comparable-store sales and market-share gains. Ross Stores and Target Are Winning Shoppers From Rivals
• Positive Sentiment: Analysts see Ross benefiting from abundant closeout merchandise, stronger brand availability and disciplined pricing. These conditions could improve merchandise margins while value-conscious consumers remain focused on bargains. ROST Sees Strong Closeout Supply
• Positive Sentiment: Brokerages maintain a consensus “Moderate Buy” rating, indicating that analysts generally view the company’s earnings outlook and valuation favorably. Ross Stores Given Moderate Buy Recommendation
• Neutral Sentiment: Ross Stores announced a board refresh that adds two directors while a longtime board member retires. The changes may strengthen oversight and bring new perspectives, but they do not immediately alter the company’s operating outlook. Ross Stores Announces Changes to Board of Directors
• Negative Sentiment: Chief Executive Officer Barbara Rentler sold approximately $11.3 million of ROST stock. Although insider sales can be preplanned and do not necessarily signal weaker fundamentals, the transaction may weigh on investor sentiment. Ross Stores CEO Sells Stock

Ross Stores Stock Performance

ROST opened at $226.61 on Friday. The company has a quick ratio of 0.98, a current ratio of 1.61 and a debt-to-equity ratio of 0.12. The stock’s 50 day moving average price is $237.14 and its two-hundred day moving average price is $226.76. The firm has a market capitalization of $72.39 billion, a P/E ratio of 27.43, a price-to-earnings-growth ratio of 1.90 and a beta of 0.85. Ross Stores has a 12-month low of $143.71 and a 12-month high of $257.00.

Ross Stores (NASDAQ:ROST) last issued its quarterly earnings results on Thursday, August 20th. The apparel retailer reported $2.66 EPS for the quarter, topping analysts’ consensus estimates of $1.95 by $0.71. The company had revenue of $6.26 billion during the quarter, compared to analyst estimates of $6.16 billion. Ross Stores had a return on equity of 39.29% and a net margin of 10.85%.The company’s quarterly revenue was up 13.3% compared to the same quarter last year. During the same period in the previous year, the company earned $1.56 earnings per share. On average, equities analysts forecast that Ross Stores will post 8.15 earnings per share for the current year.

Ross Stores Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders 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 (DPR) is presently 21.55%.

Insider Buying and Selling

In related news, CEO James Conroy sold 49,205 shares of the company’s stock in a transaction on Monday, September 14th. The stock was sold at an average price of $229.48, for a total value of $11,291,563.40. Following the completion of the transaction, the chief executive officer directly owned 134,349 shares in the company, valued at approximately $30,830,408.52. This represents a 26.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Stephen Brinkley sold 6,424 shares of the firm’s stock in a transaction on Monday, September 14th. The stock was sold at an average price of $229.66, for a total value of $1,475,335.84. Following the completion of the transaction, the insider directly owned 51,665 shares of the company’s stock, valued at approximately $11,865,383.90. This trade represents a 11.06% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 2.10% of the company’s stock.

Hedge Funds Weigh In On Ross Stores

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Hilton Head Capital Partners LLC acquired a new position in Ross Stores in the fourth quarter worth about $26,000. Bard Associates Inc. acquired a new stake in Ross Stores during the fourth quarter valued at approximately $31,000. Virtus Advisers LLC bought a new stake in shares of Ross Stores in the 2nd quarter valued at approximately $38,000. Twin Lakes Capital Management LLC bought a new stake in shares of Ross Stores in the 2nd quarter valued at approximately $41,000. Finally, Bell Investment Advisors Inc bought a new stake in shares of Ross Stores in the 2nd quarter valued at approximately $43,000. 86.86% of the stock is owned by institutional investors.

Ross Stores Company Profile

Ross Stores, Inc (NASDAQ: ROST) is an off-price retailer that operates Ross Dress for Less and dd’s DISCOUNTS stores. The company sells a broad selection of apparel, accessories, footwear and home fashion merchandise for women, men and children, generally at prices below those of traditional department and specialty stores.

Ross Stores follows an opportunistic buying model, purchasing name-brand, designer and other merchandise from manufacturers and retailers at discounted prices. Its product assortment changes frequently and can include clothing, shoes, handbags, jewelry, beauty products, furniture, bedding, home décor and other household goods.

Founded in 1950, the company is headquartered in Dublin, California, and serves customers primarily through its store network across the United States and Guam.