Ross Stores, Inc. (ROST) Given “Sector Perform” Rating at Royal Bank Of Canada

Royal Bank Of Canada reaffirmed their sector perform rating on shares of Ross Stores, Inc. (NASDAQ:ROST) in a research note issued to investors on Friday morning. Royal Bank Of Canada currently has a $70.00 target price on the apparel retailer’s stock, up from their previous target price of $62.00.

A number of other research firms have also commented on ROST. Telsey Advisory Group restated a buy rating on shares of Ross Stores in a research report on Friday. SunTrust Banks, Inc. set a $80.00 price objective on shares of Ross Stores and gave the company a buy rating in a research report on Friday. Buckingham Research restated a neutral rating and issued a $71.00 price objective on shares of Ross Stores in a research report on Thursday, October 19th. Zacks Investment Research upgraded shares of Ross Stores from a hold rating to a buy rating and set a $69.00 price objective for the company in a research report on Thursday, September 14th. Finally, J P Morgan Chase & Co upgraded shares of Ross Stores from a neutral rating to an overweight rating and raised their price objective for the company from $65.00 to $74.00 in a research report on Monday, September 25th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and fifteen have issued a buy rating to the company’s stock. Ross Stores currently has a consensus rating of Buy and an average target price of $72.48.

Ross Stores (NASDAQ:ROST) traded up $6.56 on Friday, hitting $72.25. 2,543,042 shares of the stock traded hands, compared to its average volume of 2,958,363. The stock has a market capitalization of $25,330.00, a P/E ratio of 21.28, a price-to-earnings-growth ratio of 2.00 and a beta of 1.09. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.64 and a quick ratio of 0.76. Ross Stores has a 52-week low of $52.85 and a 52-week high of $73.94.

Ross Stores (NASDAQ:ROST) last posted its earnings results on Thursday, November 16th. The apparel retailer reported $0.72 earnings per share for the quarter, topping the consensus estimate of $0.67 by $0.05. The firm had revenue of $3.33 billion during the quarter, compared to the consensus estimate of $3.26 billion. Ross Stores had a net margin of 8.87% and a return on equity of 42.95%. The company’s revenue was up 7.8% on a year-over-year basis. During the same quarter last year, the company earned $0.62 earnings per share. research analysts expect that Ross Stores will post 3.22 earnings per share for the current year.

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The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 1st will be issued a $0.16 dividend. The ex-dividend date is Thursday, November 30th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.89%. Ross Stores’s payout ratio is 21.12%.

In related news, insider Brian R. Morrow sold 6,157 shares of Ross Stores stock in a transaction on Wednesday, October 4th. The shares were sold at an average price of $65.30, for a total value of $402,052.10. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Barbara Rentler sold 15,492 shares of Ross Stores stock in a transaction on Tuesday, September 12th. The stock was sold at an average price of $61.00, for a total transaction of $945,012.00. The disclosure for this sale can be found here. Insiders own 2.30% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of ROST. Flossbach Von Storch AG increased its stake in shares of Ross Stores by 7,335.3% in the second quarter. Flossbach Von Storch AG now owns 5,000,270 shares of the apparel retailer’s stock worth $288,666,000 after buying an additional 4,933,020 shares during the period. Janus Henderson Group PLC increased its stake in shares of Ross Stores by 3,501.6% in the second quarter. Janus Henderson Group PLC now owns 1,942,654 shares of the apparel retailer’s stock worth $112,149,000 after buying an additional 1,888,715 shares during the period. Alliancebernstein L.P. increased its stake in shares of Ross Stores by 68.4% in the second quarter. Alliancebernstein L.P. now owns 4,604,774 shares of the apparel retailer’s stock worth $265,834,000 after buying an additional 1,870,314 shares during the period. Nordea Investment Management AB increased its stake in shares of Ross Stores by 8,982.4% in the third quarter. Nordea Investment Management AB now owns 1,617,840 shares of the apparel retailer’s stock worth $104,464,000 after buying an additional 1,600,027 shares during the period. Finally, Renaissance Technologies LLC increased its stake in shares of Ross Stores by 393.0% in the second quarter. Renaissance Technologies LLC now owns 1,573,128 shares of the apparel retailer’s stock worth $90,817,000 after buying an additional 1,254,028 shares during the period. 90.51% of the stock is currently owned by institutional investors.

About Ross Stores

Ross Stores, Inc and its subsidiaries operate two brands of off-price retail apparel and home fashion stores-Ross Dress for Less (Ross) and dd’s DISCOUNTS. The Company is the off-price apparel and home fashion chain in the United States, with 1,340 locations in 36 states, the District of Columbia and Guam, as of January 28, 2017.

Analyst Recommendations for Ross Stores (NASDAQ:ROST)

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