Ross Stores, Inc. (ROST) Given a $78.00 Price Target at Cowen and Company

Cowen and Company set a $78.00 price objective on Ross Stores, Inc. (NASDAQ:ROST) in a research report report published on Saturday morning. The firm currently has a buy rating on the apparel retailer’s stock.

ROST has been the topic of several other research reports. BMO Capital Markets lifted their target price on shares of Ross Stores from $65.00 to $71.00 and gave the company a market perform rating in a report on Friday. Jefferies Group LLC restated a hold rating and set a $63.00 target price on shares of Ross Stores in a report on Tuesday, September 12th. MKM Partners lifted their target price on shares of Ross Stores from $77.00 to $78.00 and gave the company a buy rating in a report on Friday, August 18th. Royal Bank Of Canada restated a hold rating and set a $62.00 target price on shares of Ross Stores in a report on Monday, September 18th. Finally, J P Morgan Chase & Co upgraded shares of Ross Stores from a neutral rating to an overweight rating and lifted their target price for the company from $65.00 to $74.00 in a report on Monday, September 25th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and fifteen have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of Buy and a consensus target price of $73.71.

Ross Stores (NASDAQ ROST) traded up $6.56 during trading hours on Friday, hitting $72.25. 2,543,042 shares of the company traded hands, compared to its average volume of 2,500,157. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.64 and a quick ratio of 0.76. The firm has a market cap of $27,859.02, a price-to-earnings ratio of 23.08, a price-to-earnings-growth ratio of 2.24 and a beta of 1.10. Ross Stores has a 1-year low of $52.85 and a 1-year 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, beating the Thomson Reuters’ consensus estimate of $0.67 by $0.05. The business had revenue of $3.33 billion for the quarter, compared to analyst estimates of $3.26 billion. Ross Stores had a net margin of 8.93% and a return on equity of 43.48%. The business’s quarterly revenue was up 7.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.62 EPS. equities research analysts forecast that Ross Stores will post 3.28 EPS for the current year.

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The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Friday, December 1st will be given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.89%. The ex-dividend date is Thursday, November 30th. Ross Stores’s dividend payout ratio is presently 20.45%.

In other Ross Stores news, CEO Barbara Rentler sold 15,492 shares of the company’s stock in a transaction dated Tuesday, September 12th. The shares were sold at an average price of $61.00, for a total value of $945,012.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Brian R. Morrow sold 6,157 shares of the company’s stock in a transaction dated Wednesday, October 4th. The stock was sold at an average price of $65.30, for a total transaction of $402,052.10. The disclosure for this sale can be found here. 2.30% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Balentine LLC grew its position in Ross Stores by 0.3% in the 2nd quarter. Balentine LLC now owns 1,775 shares of the apparel retailer’s stock worth $102,000 after purchasing an additional 5 shares during the last quarter. Parkside Financial Bank & Trust grew its position in Ross Stores by 3.4% in the 2nd quarter. Parkside Financial Bank & Trust now owns 1,868 shares of the apparel retailer’s stock worth $108,000 after purchasing an additional 61 shares during the last quarter. Acrospire Investment Management LLC grew its position in Ross Stores by 100.0% in the 2nd quarter. Acrospire Investment Management LLC now owns 2,000 shares of the apparel retailer’s stock worth $115,000 after purchasing an additional 1,000 shares during the last quarter. Zions Bancorporation grew its position in Ross Stores by 338.9% in the 3rd quarter. Zions Bancorporation now owns 2,120 shares of the apparel retailer’s stock worth $137,000 after purchasing an additional 1,637 shares during the last quarter. Finally, Welch Group LLC grew its position in Ross Stores by 35.2% in the 2nd quarter. Welch Group LLC now owns 2,752 shares of the apparel retailer’s stock worth $159,000 after purchasing an additional 716 shares during the last quarter. Hedge funds and other institutional investors own 90.51% of the company’s stock.

Ross Stores Company Profile

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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