Ross Stores (NASDAQ:ROST) PT Raised to $72.00 at Buckingham Research

Ross Stores (NASDAQ:ROST) had its price objective boosted by Buckingham Research from $71.00 to $72.00 in a report released on Friday, November 17th. The firm currently has a neutral rating on the apparel retailer’s stock.

Several other brokerages have also recently weighed in on ROST. Zacks Investment Research upgraded Ross Stores from a hold rating to a buy rating and set a $60.00 price objective for the company in a report on Monday, August 21st. Instinet restated a buy rating and issued a $74.00 price objective on shares of Ross Stores in a report on Sunday, August 20th. UBS decreased their price objective on Ross Stores from $70.00 to $64.00 and set a neutral rating for the company in a report on Friday, August 18th. SunTrust Banks set a $80.00 price objective on Ross Stores and gave the company a buy rating in a report on Friday, November 17th. Finally, Bank of America reiterated a buy rating and issued a $80.00 target price on shares of Ross Stores in a research note on Sunday, August 20th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and fifteen have issued a buy rating to the stock. The stock presently has a consensus rating of Buy and a consensus price target of $73.71.

Ross Stores (NASDAQ ROST) opened at $75.73 on Friday. The stock has a market capitalization of $29,200.88, a PE ratio of 24.19, a price-to-earnings-growth ratio of 2.31 and a beta of 1.15. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.68 and a current ratio of 1.57. Ross Stores has a 1-year low of $52.85 and a 1-year high of $77.20.

Ross Stores (NASDAQ:ROST) last released its earnings results on Thursday, November 16th. The apparel retailer reported $0.72 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.67 by $0.05. The firm had revenue of $3.33 billion during the quarter, compared to analysts’ expectations of $3.26 billion. Ross Stores had a return on equity of 43.21% and a net margin of 8.93%. The company’s revenue was up 7.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.62 EPS. equities analysts forecast that Ross Stores will post 3.28 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, December 1st will be given a dividend of $0.16 per share. The ex-dividend date is Thursday, November 30th. This represents a $0.64 annualized dividend and a yield of 0.85%. Ross Stores’s dividend payout ratio (DPR) is presently 20.45%.

In other news, CEO Barbara Rentler sold 15,492 shares of Ross Stores stock in a transaction that occurred on Tuesday, September 12th. The shares were sold at an average price of $61.00, for a total value of $945,012.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Brian R. Morrow sold 6,157 shares of Ross Stores stock in a transaction that occurred on Wednesday, October 4th. The shares were sold at an average price of $65.30, for a total transaction of $402,052.10. The disclosure for this sale can be found here. Company insiders own 2.30% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ROST. Flossbach Von Storch AG raised its position in shares of Ross Stores by 7,335.3% in the second quarter. Flossbach Von Storch AG now owns 5,000,270 shares of the apparel retailer’s stock valued at $288,666,000 after buying an additional 4,933,020 shares in the last quarter. Janus Henderson Group PLC increased its stake in Ross Stores by 3,501.6% in the second quarter. Janus Henderson Group PLC now owns 1,942,654 shares of the apparel retailer’s stock valued at $112,149,000 after acquiring an additional 1,888,715 shares during the last quarter. Alliancebernstein L.P. increased its stake in Ross Stores by 68.4% in the second quarter. Alliancebernstein L.P. now owns 4,604,774 shares of the apparel retailer’s stock valued at $265,834,000 after acquiring an additional 1,870,314 shares during the last quarter. Nordea Investment Management AB increased its stake in Ross Stores by 8,982.4% in the third quarter. Nordea Investment Management AB now owns 1,617,840 shares of the apparel retailer’s stock valued at $104,464,000 after acquiring an additional 1,600,027 shares during the last quarter. Finally, Renaissance Technologies LLC increased its stake in Ross Stores by 393.0% in the second quarter. Renaissance Technologies LLC now owns 1,573,128 shares of the apparel retailer’s stock valued at $90,817,000 after acquiring an additional 1,254,028 shares during the last quarter. Institutional investors own 90.97% of the company’s stock.

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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.

Analyst Recommendations for Ross Stores (NASDAQ:ROST)

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