Ross Stores (NASDAQ:ROST) Lifted to Buy at BidaskClub

BidaskClub upgraded shares of Ross Stores (NASDAQ:ROST) from a hold rating to a buy rating in a report issued on Thursday morning, BidAskClub reports.

Other research analysts have also issued research reports about the stock. Goldman Sachs Group upgraded shares of to a neutral rating and lowered their price target for the stock from GBX 1,855 ($24.24) to GBX 1,800 ($23.52) in a report on Thursday, June 27th. Zacks Investment Research upgraded shares of Gerdau from a sell rating to a hold rating in a report on Monday, May 13th. Robert W. Baird started coverage on shares of TJX Companies in a report on Monday, May 13th. They set an outperform rating and a $63.00 price target for the company. Guggenheim restated a buy rating and set a $60.00 price target on shares of Foot Locker in a report on Friday, May 24th. Finally, Telsey Advisory Group lowered shares of Ross Stores from an outperform rating to a market perform rating and set a $103.00 price target for the company. in a report on Monday, June 24th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and sixteen have given a buy rating to the company’s stock. The stock presently has a consensus rating of Buy and an average price target of $98.64.

Ross Stores stock opened at $106.02 on Thursday. The company has a current ratio of 1.34, a quick ratio of 0.64 and a debt-to-equity ratio of 0.87. Ross Stores has a 52-week low of $75.91 and a 52-week high of $106.78. The stock’s 50 day moving average price is $98.93. The company has a market cap of $38.67 billion, a price-to-earnings ratio of 24.89, a price-to-earnings-growth ratio of 2.26 and a beta of 0.90.

Ross Stores (NASDAQ:ROST) last released its quarterly earnings results on Thursday, May 23rd. The apparel retailer reported $1.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.12 by $0.01. Ross Stores had a net margin of 10.47% and a return on equity of 48.92%. The firm had revenue of $3.80 billion during the quarter, compared to analyst estimates of $3.79 billion. During the same quarter last year, the business earned $1.11 EPS. The company’s revenue was up 5.8% compared to the same quarter last year. Equities research analysts expect that Ross Stores will post 4.51 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Tuesday, June 11th were paid a $0.255 dividend. The ex-dividend date was Monday, June 10th. This represents a $1.02 annualized dividend and a dividend yield of 0.96%. Ross Stores’s dividend payout ratio is currently 23.94%.

In other Ross Stores news, Director George Orban sold 1,000 shares of the business’s stock in a transaction on Wednesday, July 10th. The shares were sold at an average price of $102.50, for a total transaction of $102,500.00. Following the completion of the sale, the director now owns 543,939 shares in the company, valued at approximately $55,753,747.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Michael Balmuth sold 81,049 shares of the business’s stock in a transaction on Friday, May 31st. The shares were sold at an average price of $92.87, for a total transaction of $7,527,020.63. The disclosure for this sale can be found here. Insiders sold a total of 182,049 shares of company stock valued at $17,798,721 in the last quarter. 2.30% of the stock is currently owned by company insiders.

Hedge funds have recently made changes to their positions in the business. First Manhattan Co. bought a new stake in Ross Stores during the 1st quarter valued at $27,000. CI Investments Inc. bought a new stake in Ross Stores during the 4th quarter valued at $26,000. Berman Capital Advisors LLC bought a new stake in Ross Stores during the 4th quarter valued at $32,000. Omnia Family Wealth LLC increased its stake in Ross Stores by 1,387.5% during the 4th quarter. Omnia Family Wealth LLC now owns 476 shares of the apparel retailer’s stock valued at $40,000 after purchasing an additional 444 shares in the last quarter. Finally, Thor Advisors LLC bought a new stake in Ross Stores during the 1st quarter valued at $54,000. Institutional investors and hedge funds own 89.62% of the company’s stock.

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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