Ross Stores, Inc. (NASDAQ:ROST) VP Michael J. Hartshorn sold 5,060 shares of the stock in a transaction on Wednesday, March 21st. The stock was sold at an average price of $77.63, for a total value of $392,807.80. Following the completion of the transaction, the vice president now owns 82,992 shares of the company’s stock, valued at approximately $6,442,668.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.
Ross Stores, Inc. (ROST) traded down $0.20 during trading on Friday, reaching $74.84. The company’s stock had a trading volume of 2,330,881 shares, compared to its average volume of 2,711,775. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.64 and a quick ratio of 0.78. The firm has a market capitalization of $29,581.92, a price-to-earnings ratio of 21.08, a price-to-earnings-growth ratio of 1.92 and a beta of 1.09. Ross Stores, Inc. has a 12 month low of $52.85 and a 12 month high of $85.66.
Ross Stores (NASDAQ:ROST) last posted its earnings results on Tuesday, March 6th. The apparel retailer reported $0.98 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.93 by $0.05. The company had revenue of $4.07 billion for the quarter, compared to analyst estimates of $3.95 billion. Ross Stores had a return on equity of 44.53% and a net margin of 9.64%. equities research analysts anticipate that Ross Stores, Inc. will post 4.03 earnings per share for the current fiscal year.
Ross Stores announced that its board has authorized a stock buyback plan on Tuesday, March 6th that permits the company to repurchase $200.00 million in outstanding shares. This repurchase authorization permits the apparel retailer to reacquire shares of its stock through open market purchases. Shares repurchase plans are typically a sign that the company’s board believes its shares are undervalued.
Several research analysts have issued reports on ROST shares. BidaskClub upgraded Ross Stores from a “hold” rating to a “buy” rating in a research report on Wednesday, December 27th. Zacks Investment Research cut Ross Stores from a “buy” rating to a “hold” rating in a research report on Friday, March 9th. Wells Fargo reiterated a “buy” rating and issued a $86.00 price objective (down previously from $91.00) on shares of Ross Stores in a research report on Wednesday, March 7th. Cowen set a $85.00 price objective on Ross Stores and gave the stock a “buy” rating in a research report on Tuesday, March 6th. Finally, Deutsche Bank set a $92.00 price objective on Ross Stores and gave the stock a “buy” rating in a research report on Wednesday, March 7th. Eight research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. Ross Stores presently has an average rating of “Buy” and a consensus price target of $81.86.
Several institutional investors and hedge funds have recently bought and sold shares of ROST. Cerebellum GP LLC acquired a new stake in shares of Ross Stores during the fourth quarter valued at $132,000. Zions Bancorporation boosted its stake in shares of Ross Stores by 338.9% during the third quarter. Zions Bancorporation now owns 2,120 shares of the apparel retailer’s stock valued at $137,000 after acquiring an additional 1,637 shares during the last quarter. Sit Investment Associates Inc. boosted its stake in shares of Ross Stores by 255.1% during the fourth quarter. Sit Investment Associates Inc. now owns 1,900 shares of the apparel retailer’s stock valued at $152,000 after acquiring an additional 1,365 shares during the last quarter. Harvest Fund Management Co. Ltd acquired a new stake in shares of Ross Stores during the fourth quarter valued at $159,000. Finally, Financial Gravity Companies Inc. acquired a new stake in shares of Ross Stores during the fourth quarter valued at $164,000. 89.57% of the stock is currently owned by institutional investors and hedge funds.
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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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