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

Ross Stores, Inc. (NASDAQ:ROST) has received a consensus recommendation of “Buy” from the twenty-nine ratings firms that are currently covering the stock, Marketbeat Ratings reports. Eleven analysts have rated the stock with a hold rating and eighteen have issued a buy rating on the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $97.17.

A number of research analysts have recently issued reports on the stock. BidaskClub upgraded shares of Ross Stores from a “sell” rating to a “hold” rating in a report on Wednesday, April 3rd. DA Davidson lifted their price objective on shares of Ross Stores to $92.00 and gave the company a “neutral” rating in a report on Thursday, March 7th. Wells Fargo & Co lifted their price objective on shares of Ross Stores from $92.00 to $104.00 and gave the company an “outperform” rating in a report on Wednesday, March 6th. Credit Suisse Group lifted their price objective on shares of Ross Stores from $95.00 to $100.00 and gave the company an “outperform” rating in a report on Wednesday, March 6th. Finally, Guggenheim reiterated a “buy” rating and set a $105.00 price objective on shares of Ross Stores in a report on Tuesday, March 5th.

In other Ross Stores news, insider Bernard G. Brautigan sold 19,384 shares of Ross Stores stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $93.56, for a total value of $1,813,567.04. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Chairman Michael Balmuth sold 25,689 shares of Ross Stores stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $90.77, for a total transaction of $2,331,790.53. Following the completion of the sale, the chairman now directly owns 51,998 shares in the company, valued at approximately $4,719,858.46. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 137,054 shares of company stock worth $12,504,328. 2.40% of the stock is owned by corporate insiders.

Hedge funds have recently made changes to their positions in the business. JPMorgan Chase & Co. boosted its holdings in Ross Stores by 33.8% during the third quarter. JPMorgan Chase & Co. now owns 13,907,770 shares of the apparel retailer’s stock valued at $1,378,259,000 after purchasing an additional 3,512,781 shares in the last quarter. Kentucky Retirement Systems bought a new position in Ross Stores in the 3rd quarter worth approximately $1,340,000. Standard Life Aberdeen plc raised its position in Ross Stores by 21.1% in the 3rd quarter. Standard Life Aberdeen plc now owns 395,696 shares of the apparel retailer’s stock worth $39,220,000 after purchasing an additional 69,063 shares during the last quarter. Kepos Capital LP raised its position in Ross Stores by 9.8% in the 3rd quarter. Kepos Capital LP now owns 59,952 shares of the apparel retailer’s stock worth $5,941,000 after purchasing an additional 5,332 shares during the last quarter. Finally, Legal & General Group Plc raised its position in Ross Stores by 0.5% in the 3rd quarter. Legal & General Group Plc now owns 1,921,724 shares of the apparel retailer’s stock worth $190,464,000 after purchasing an additional 9,526 shares during the last quarter. 91.14% of the stock is currently owned by institutional investors and hedge funds.

NASDAQ:ROST traded up $0.53 during trading hours on Friday, reaching $98.55. The company had a trading volume of 1,441,046 shares, compared to its average volume of 1,757,153. The stock has a market capitalization of $36.21 billion, a price-to-earnings ratio of 23.13, a PEG ratio of 2.11 and a beta of 0.89. Ross Stores has a twelve month low of $75.91 and a twelve month high of $104.35. The company has a current ratio of 1.69, a quick ratio of 0.82 and a debt-to-equity ratio of 0.09.

Ross Stores (NASDAQ:ROST) last issued its quarterly earnings data on Tuesday, March 5th. The apparel retailer reported $1.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.13 by $0.07. The firm had revenue of $4.11 billion during the quarter, compared to analysts’ expectations of $4.05 billion. Ross Stores had a net margin of 10.60% and a return on equity of 49.58%. Equities analysts predict that Ross Stores will post 4.5 earnings per share for the current fiscal year.

Ross Stores declared that its board has authorized a stock repurchase program on Tuesday, March 5th that permits the company to buyback $2.55 billion in outstanding shares. This buyback authorization permits the apparel retailer to purchase up to 7.3% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.

The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Monday, March 18th were issued a dividend of $0.255 per share. The ex-dividend date of this dividend was Wednesday, March 6th. This is a boost from Ross Stores’s previous quarterly dividend of $0.23. This represents a $1.02 annualized dividend and a yield of 1.04%. Ross Stores’s payout ratio is 23.94%.

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. Its stores 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.

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Analyst Recommendations for Ross Stores (NASDAQ:ROST)

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