Telsey Advisory Group upgraded shares of Ross Stores, Inc. (NASDAQ:ROST) from a market perform rating to an outperform rating in a research report sent to investors on Friday, MarketBeat Ratings reports. They currently have $70.00 price target on the apparel retailer’s stock. The analysts noted that the move was a valuation call.
ROST has been the topic of a number of other research reports. Royal Bank Of Canada set a $67.00 price objective on shares of Ross Stores and gave the stock a hold rating in a report on Monday, June 19th. Zacks Investment Research raised shares of Ross Stores from a hold rating to a buy rating and set a $61.00 price objective on the stock in a report on Wednesday, July 12th. William Blair reissued an outperform rating on shares of Ross Stores in a report on Monday, May 22nd. Jefferies Group LLC set a $63.00 price objective on shares of Ross Stores and gave the stock a hold rating in a report on Thursday, April 6th. Finally, BMO Capital Markets set a $65.00 price objective on shares of Ross Stores and gave the stock a hold rating in a report on Friday, May 19th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and fifteen have assigned a buy rating to the company. The company has an average rating of Buy and a consensus price target of $69.23.
Ross Stores (ROST) traded down 0.73% during mid-day trading on Friday, reaching $54.33. 2,698,261 shares of the company’s stock traded hands. The stock’s 50 day moving average is $61.07 and its 200-day moving average is $64.95. The stock has a market capitalization of $21.14 billion, a PE ratio of 18.61 and a beta of 1.12. Ross Stores has a 52 week low of $53.89 and a 52 week high of $69.81.
Ross Stores (NASDAQ:ROST) last released its quarterly earnings data on Thursday, May 18th. The apparel retailer reported $0.82 earnings per share for the quarter, topping analysts’ consensus estimates of $0.80 by $0.02. Ross Stores had a net margin of 8.77% and a return on equity of 42.56%. The company had revenue of $3.31 billion for the quarter, compared to analysts’ expectations of $3.27 billion. During the same quarter last year, the company earned $0.73 earnings per share. The firm’s revenue for the quarter was up 7.0% on a year-over-year basis. On average, equities analysts anticipate that Ross Stores will post $3.16 EPS for the current year.
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The business also recently announced a quarterly dividend, which was paid on Friday, June 30th. Shareholders of record on Tuesday, June 6th were given a dividend of $0.16 per share. The ex-dividend date of this dividend was Friday, June 2nd. This represents a $0.64 annualized dividend and a dividend yield of 1.18%. Ross Stores’s payout ratio is currently 21.92%.
In other Ross Stores news, Director Sharon D. Garrett sold 16,130 shares of the business’s stock in a transaction on Friday, May 26th. The shares were sold at an average price of $63.23, for a total transaction of $1,019,899.90. Following the sale, the director now directly owns 4,967 shares in the company, valued at approximately $314,063.41. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.30% of the stock is currently owned by insiders.
Several large investors have recently modified their holdings of ROST. National Pension Service raised its stake in shares of Ross Stores by 4.3% in the first quarter. National Pension Service now owns 355,177 shares of the apparel retailer’s stock valued at $23,658,000 after buying an additional 14,712 shares during the last quarter. Gulf International Bank UK Ltd raised its stake in shares of Ross Stores by 1.2% in the first quarter. Gulf International Bank UK Ltd now owns 124,802 shares of the apparel retailer’s stock valued at $8,220,000 after buying an additional 1,500 shares during the last quarter. Creative Planning increased its position in Ross Stores by 6.4% in the first quarter. Creative Planning now owns 13,856 shares of the apparel retailer’s stock valued at $913,000 after buying an additional 832 shares during the period. Raymond James Trust N.A. increased its position in Ross Stores by 3.7% in the first quarter. Raymond James Trust N.A. now owns 20,789 shares of the apparel retailer’s stock valued at $1,369,000 after buying an additional 748 shares during the period. Finally, Chevy Chase Trust Holdings Inc. increased its position in Ross Stores by 2.4% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 341,873 shares of the apparel retailer’s stock valued at $22,519,000 after buying an additional 8,038 shares during the period. Institutional investors own 90.25% 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.
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