Credit Suisse Group set a $66.00 target price on Ross Stores, Inc. (NASDAQ:ROST) in a report published on Friday morning. The brokerage currently has a hold rating on the apparel retailer’s stock.
Other equities analysts have also issued research reports about the stock. Zacks Investment Research upgraded shares of Ross Stores from a hold rating to a buy rating and set a $61.00 target price for the company in a research report on Wednesday, July 12th. BMO Capital Markets set a $65.00 target price on shares of Ross Stores and gave the stock a hold rating in a research report on Thursday, July 6th. Royal Bank Of Canada set a $67.00 target price on shares of Ross Stores and gave the stock a hold rating in a research report on Monday, June 19th. Jefferies Group LLC restated a hold rating and set a $63.00 target price on shares of Ross Stores in a research report on Tuesday, May 16th. Finally, Telsey Advisory Group dropped their target price on shares of Ross Stores from $77.00 to $70.00 and set a market perform rating for the company in a research report on Friday, May 19th. One analyst has rated the stock with a sell rating, nine have given a hold rating and fourteen have assigned a buy rating to the company. The stock has a consensus rating of Buy and a consensus target price of $69.05.
Ross Stores (NASDAQ:ROST) opened at 58.56 on Friday. The firm has a 50-day moving average of $55.20 and a 200 day moving average of $61.99. Ross Stores has a one year low of $52.85 and a one year high of $69.81. The company has a market capitalization of $22.43 billion, a P/E ratio of 19.34 and a beta of 1.10.
Ross Stores (NASDAQ:ROST) last announced its quarterly earnings data on Thursday, August 17th. The apparel retailer reported $0.82 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.77 by $0.05. Ross Stores had a net margin of 8.87% and a return on equity of 42.95%. The firm had revenue of $3.43 billion during the quarter, compared to analysts’ expectations of $3.37 billion. During the same period in the prior year, the company posted $0.71 earnings per share. The company’s revenue for the quarter was up 7.9% compared to the same quarter last year. On average, equities analysts forecast that Ross Stores will post $3.24 EPS for the current fiscal year.
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The company also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Thursday, September 7th will be issued a $0.16 dividend. The ex-dividend date of this dividend is Wednesday, September 6th. This represents a $0.64 annualized dividend and a dividend yield of 1.09%. Ross Stores’s dividend payout ratio (DPR) is presently 21.12%.
In other news, Director Sharon D. Garrett sold 16,130 shares of the firm’s stock in a transaction dated Friday, May 26th. The shares were sold at an average price of $63.23, for a total value of $1,019,899.90. Following the completion of the sale, the director now owns 4,967 shares in the company, valued at approximately $314,063.41. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 2.30% of the stock is currently owned by company insiders.
Several large investors have recently added to or reduced their stakes in ROST. Toronto Dominion Bank raised its stake in Ross Stores by 24.1% in the second quarter. Toronto Dominion Bank now owns 135,821 shares of the apparel retailer’s stock valued at $7,840,000 after buying an additional 26,412 shares during the period. Archford Capital Strategies LLC raised its stake in Ross Stores by 220.4% in the second quarter. Archford Capital Strategies LLC now owns 26,580 shares of the apparel retailer’s stock valued at $222,000 after buying an additional 18,285 shares during the period. Dynamic Technology Lab Private Ltd raised its stake in Ross Stores by 229.1% in the second quarter. Dynamic Technology Lab Private Ltd now owns 24,053 shares of the apparel retailer’s stock valued at $1,389,000 after buying an additional 16,744 shares during the period. WINTON GROUP Ltd raised its stake in Ross Stores by 7.1% in the second quarter. WINTON GROUP Ltd now owns 40,620 shares of the apparel retailer’s stock valued at $2,345,000 after buying an additional 2,709 shares during the period. Finally, Wasatch Advisors Inc. purchased a new stake in Ross Stores during the second quarter valued at about $283,000. Hedge funds and other institutional investors own 90.20% 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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