Ross Stores, Inc. (ROST) Receives Average Rating of “Buy” from Analysts

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Shares of Ross Stores, Inc. (NASDAQ:ROST) have received a consensus rating of “Buy” from the twenty-eight analysts that are covering the firm, Marketbeat Ratings reports. Seven equities research analysts have rated the stock with a hold recommendation, twenty have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $83.64.

A number of equities analysts have weighed in on the company. Morgan Stanley boosted their price target on Ross Stores from $89.00 to $94.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 7th. BMO Capital Markets reissued a “hold” rating and set a $78.00 price target on shares of Ross Stores in a research report on Wednesday, March 7th. Buckingham Research reaffirmed a “neutral” rating and issued a $86.00 target price (up previously from $82.00) on shares of Ross Stores in a research report on Wednesday, March 7th. Deutsche Bank began coverage on Ross Stores in a research report on Monday, April 30th. They issued a “buy” rating and a $94.00 target price on the stock. Finally, OTR Global began coverage on Ross Stores in a research report on Tuesday, May 8th. They issued a “positive” rating on the stock.

In related news, insider Bernard G. Brautigan sold 18,171 shares of the business’s stock in a transaction that occurred on Friday, March 23rd. The stock was sold at an average price of $75.71, for a total value of $1,375,726.41. Following the completion of the sale, the insider now directly owns 170,718 shares in the company, valued at $12,925,059.78. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Barbara Rentler sold 32,430 shares of the business’s stock in a transaction that occurred on Thursday, April 5th. The shares were sold at an average price of $79.53, for a total value of $2,579,157.90. Following the completion of the sale, the chief executive officer now owns 534,318 shares of the company’s stock, valued at $42,494,310.54. The disclosure for this sale can be found here. Over the last quarter, insiders sold 222,787 shares of company stock valued at $17,545,146. 2.40% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ROST. Aperio Group LLC lifted its stake in Ross Stores by 6.3% during the fourth quarter. Aperio Group LLC now owns 202,962 shares of the apparel retailer’s stock worth $16,288,000 after purchasing an additional 12,064 shares during the last quarter. US Bancorp DE lifted its stake in Ross Stores by 1.0% during the fourth quarter. US Bancorp DE now owns 182,758 shares of the apparel retailer’s stock worth $14,666,000 after purchasing an additional 1,792 shares during the last quarter. Public Employees Retirement Association of Colorado lifted its stake in Ross Stores by 3.2% during the fourth quarter. Public Employees Retirement Association of Colorado now owns 72,037 shares of the apparel retailer’s stock worth $5,781,000 after purchasing an additional 2,210 shares during the last quarter. Meeder Asset Management Inc. lifted its stake in Ross Stores by 277.3% during the fourth quarter. Meeder Asset Management Inc. now owns 23,035 shares of the apparel retailer’s stock worth $1,850,000 after purchasing an additional 16,929 shares during the last quarter. Finally, American Century Companies Inc. lifted its stake in Ross Stores by 0.8% during the fourth quarter. American Century Companies Inc. now owns 2,293,964 shares of the apparel retailer’s stock worth $184,091,000 after purchasing an additional 19,251 shares during the last quarter. Hedge funds and other institutional investors own 87.89% of the company’s stock.

NASDAQ ROST traded down $0.19 during trading on Thursday, reaching $84.50. 2,244,424 shares of the company’s stock were exchanged, compared to its average volume of 2,730,499. The company has a market cap of $32.40 billion, a PE ratio of 25.30, a price-to-earnings-growth ratio of 2.11 and a beta of 1.06. The company has a quick ratio of 0.74, a current ratio of 1.64 and a debt-to-equity ratio of 0.10. Ross Stores has a fifty-two week low of $52.85 and a fifty-two week high of $86.33.

Ross Stores (NASDAQ:ROST) last announced its quarterly earnings results on Thursday, May 24th. The apparel retailer reported $1.11 earnings per share for the quarter, topping analysts’ consensus estimates of $1.07 by $0.04. The firm had revenue of $3.59 billion for the quarter, compared to the consensus estimate of $3.54 billion. Ross Stores had a return on equity of 46.48% and a net margin of 10.13%. The business’s revenue was up 8.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.82 earnings per share. research analysts anticipate that Ross Stores will post 4.05 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, June 29th. Investors of record on Tuesday, June 12th will be paid a $0.225 dividend. This represents a $0.90 annualized dividend and a dividend yield of 1.07%. The ex-dividend date of this dividend is Monday, June 11th. Ross Stores’s dividend payout ratio (DPR) is currently 26.95%.

Ross Stores announced that its Board of Directors has initiated a stock repurchase plan on Tuesday, March 6th that authorizes the company to repurchase $200.00 million in shares. This repurchase authorization authorizes the apparel retailer to purchase shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

Ross Stores Company Profile

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 brands in the United States. It primarily offers 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 regular prices to customers from households with moderate income.

Analyst Recommendations for Ross Stores (NASDAQ:ROST)

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