Ross Stores, Inc. (NASDAQ:ROST) saw a significant decrease in short interest during the month of October. As of October 13th, there was short interest totalling 13,223,514 shares, a decrease of 12.9% from the September 29th total of 15,183,468 shares. Approximately 3.5% of the shares of the company are sold short. Based on an average daily volume of 2,403,359 shares, the days-to-cover ratio is currently 5.5 days.
In other news, insider Brian R. Morrow sold 6,157 shares of the company’s stock in a transaction that occurred on Wednesday, October 4th. The stock was sold at an average price of $65.30, for a total value of $402,052.10. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Barbara Rentler sold 15,492 shares of the stock in a transaction that occurred on Tuesday, September 12th. The stock was sold at an average price of $61.00, for a total value of $945,012.00. The disclosure for this sale can be found here. 2.30% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently modified their holdings of ROST. Balentine LLC grew its position in shares of Ross Stores by 0.3% during the 2nd quarter. Balentine LLC now owns 1,775 shares of the apparel retailer’s stock valued at $102,000 after purchasing an additional 5 shares in the last quarter. Alps Advisors Inc. grew its position in shares of Ross Stores by 0.3% during the 2nd quarter. Alps Advisors Inc. now owns 7,118 shares of the apparel retailer’s stock valued at $411,000 after purchasing an additional 19 shares in the last quarter. First Heartland Consultants Inc. grew its position in shares of Ross Stores by 0.6% during the 2nd quarter. First Heartland Consultants Inc. now owns 6,136 shares of the apparel retailer’s stock valued at $354,000 after purchasing an additional 34 shares in the last quarter. Parkside Financial Bank & Trust grew its position in shares of Ross Stores by 3.4% during the 2nd quarter. Parkside Financial Bank & Trust now owns 1,868 shares of the apparel retailer’s stock valued at $108,000 after purchasing an additional 61 shares in the last quarter. Finally, New Amsterdam Partners LLC NY grew its position in shares of Ross Stores by 0.8% during the 2nd quarter. New Amsterdam Partners LLC NY now owns 8,375 shares of the apparel retailer’s stock valued at $483,000 after purchasing an additional 64 shares in the last quarter. 90.36% of the stock is currently owned by institutional investors and hedge funds.
Ross Stores (ROST) traded up $1.19 during trading hours on Friday, hitting $65.76. 3,430,700 shares of the company were exchanged, compared to its average volume of 2,921,492. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.64 and a quick ratio of 0.76. The company has a market cap of $24,897.68, a PE ratio of 21.31, a PEG ratio of 2.00 and a beta of 1.10. Ross Stores has a 52 week low of $52.85 and a 52 week high of $69.81.
Ross Stores (NASDAQ:ROST) last issued its earnings results on Thursday, August 17th. The apparel retailer reported $0.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.77 by $0.05. Ross Stores had a net margin of 8.87% and a return on equity of 42.95%. The business had revenue of $3.43 billion for the quarter, compared to analysts’ expectations of $3.37 billion. During the same quarter in the previous year, the firm posted $0.71 EPS. The business’s revenue for the quarter was up 7.9% compared to the same quarter last year. sell-side analysts anticipate that Ross Stores will post 3.22 EPS for the current year.
A number of equities research analysts recently issued reports on ROST shares. Instinet reissued a “buy” rating and set a $74.00 price target on shares of Ross Stores in a research report on Sunday, August 20th. Zacks Investment Research downgraded Ross Stores from a “buy” rating to a “hold” rating in a report on Wednesday, August 23rd. Credit Suisse Group reaffirmed a “neutral” rating and issued a $64.00 target price (down previously from $70.00) on shares of Ross Stores in a report on Wednesday, August 2nd. BidaskClub raised Ross Stores from a “strong sell” rating to a “sell” rating in a report on Monday, July 31st. Finally, Deutsche Bank AG reaffirmed a “buy” rating and issued a $75.00 target price on shares of Ross Stores in a report on Monday, August 21st. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and thirteen have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $70.21.
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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