Analysts’ Recent Ratings Updates for Ross Stores (ROST)

A number of research firms have changed their ratings and price targets for Ross Stores (NASDAQ: ROST):

  • 5/22/2019 – Ross Stores was upgraded by analysts at BidaskClub from a “hold” rating to a “buy” rating.
  • 5/13/2019 – Ross Stores is now covered by analysts at Robert W. Baird. They set an “outperform” rating and a $108.00 price target on the stock.
  • 5/13/2019 – Ross Stores was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. According to Zacks, “Ross Stores boasts a robust surprise trend, having delivered 11th consecutive earnings beat in fourth-quarter fiscal 2018, with 10 positive sales surprises in 11 quarters. Moreover, its commitment to price management, merchandise initiatives, cost containment and store expansion bode well. Further, the recently raised dividend and new share buyback program highlight its balance sheet strength and ability to generate cash to fund growth initiatives. However, the company lagged the industry in the past three months owing to expectations of higher freight costs and wage investments in fiscal 2019, which have been hurting margins for a while. These headwinds hurt operating margin and led to higher cost of goods sold and SG&A expenses, in fourth-quarter fiscal 2018. This along with expectations of difficult comparisons, a competitive landscape and macroeconomic headwinds led to a soft outlook for the first quarter and fiscal 2019.”
  • 5/7/2019 – Ross Stores was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “Ross Stores has underperformed the industry in the past three months owing to expectations of higher freight costs and wage investments in fiscal 2019, which have been hurting margins for a while. These headwinds hurt operating margin and led to higher cost of goods sold and SG&A expenses, in fourth-quarter fiscal 2018. This along with expectations of difficult comparisons, a competitive landscape and macroeconomic headwinds led to a soft outlook for the first quarter and fiscal 2019. Further, the company has been witnessing softness in the ladies apparel business, which is likely to continue in the fiscal first quarter. However, the company boasts a robust surprise trend, having delivered 11th consecutive earnings beat in fourth-quarter fiscal 2018, with 10 positive sales surprises in 11 quarters. Moreover, its commitment to price management, merchandise initiatives, cost containment and store expansion are encouraging.”
  • 4/3/2019 – Ross Stores was upgraded by analysts at BidaskClub from a “sell” rating to a “hold” rating.

ROST opened at $94.53 on Thursday. The firm has a market capitalization of $35.79 billion, a P/E ratio of 22.19, a PEG ratio of 2.08 and a beta of 0.89. Ross Stores, Inc. has a 1 year low of $75.91 and a 1 year high of $104.35. The company has a quick ratio of 0.82, a current ratio of 1.69 and a debt-to-equity ratio of 0.09.

Ross Stores (NASDAQ:ROST) last released its quarterly earnings results on Tuesday, March 5th. The apparel retailer reported $1.20 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.13 by $0.07. The business had revenue of $4.11 billion during the quarter, compared to the consensus estimate of $4.05 billion. Ross Stores had a return on equity of 49.58% and a net margin of 10.60%. On average, research analysts expect that Ross Stores, Inc. will post 4.5 EPS for the current fiscal year.

In other news, Chairman Michael Balmuth sold 25,689 shares of the company’s stock in a transaction on 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 transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Michael J. Hartshorn sold 9,924 shares of the company’s stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $91.48, for a total value of $907,847.52. The disclosure for this sale can be found here. Insiders sold a total of 137,054 shares of company stock valued at $12,504,328 over the last 90 days. 2.30% of the stock is currently owned by corporate insiders.

Large investors have recently added to or reduced their stakes in the company. Advisor Group Inc. raised its holdings in shares of Ross Stores by 11.7% during the 4th quarter. Advisor Group Inc. now owns 35,082 shares of the apparel retailer’s stock worth $2,921,000 after buying an additional 3,663 shares in the last quarter. Cetera Advisor Networks LLC raised its holdings in shares of Ross Stores by 440.8% during the 4th quarter. Cetera Advisor Networks LLC now owns 13,027 shares of the apparel retailer’s stock worth $1,083,000 after buying an additional 10,618 shares in the last quarter. State of Alaska Department of Revenue raised its holdings in shares of Ross Stores by 1.3% during the 1st quarter. State of Alaska Department of Revenue now owns 180,979 shares of the apparel retailer’s stock worth $16,848,000 after buying an additional 2,324 shares in the last quarter. Legacy Advisors LLC acquired a new position in shares of Ross Stores during the 1st quarter worth $67,000. Finally, Comerica Securities Inc. raised its holdings in shares of Ross Stores by 20.4% during the 4th quarter. Comerica Securities Inc. now owns 4,218 shares of the apparel retailer’s stock worth $351,000 after buying an additional 716 shares in the last quarter. Hedge funds and other institutional investors own 88.31% of the company’s stock.

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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