Ross Stores (ROST) Upgraded by BidaskClub to “Strong-Buy”

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BidaskClub upgraded shares of Ross Stores (NASDAQ:ROST) from a buy rating to a strong-buy rating in a report published on Friday.

A number of other equities research analysts also recently weighed in on the company. Loop Capital lifted their target price on Ross Stores from $88.00 to $95.00 and gave the stock a buy rating in a research report on Wednesday, June 27th. Zacks Investment Research downgraded Ross Stores from a buy rating to a hold rating in a research report on Monday, July 23rd. Wedbush began coverage on Ross Stores in a research report on Friday, June 22nd. They set a neutral rating and a $90.00 target price on the stock. Guggenheim reissued a buy rating and set a $100.00 target price on shares of Ross Stores in a research report on Wednesday, July 25th. Finally, Telsey Advisory Group lifted their target price on Ross Stores from $98.00 to $105.00 and gave the stock an outperform rating in a research report on Friday, August 24th. Twelve equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of Buy and a consensus target price of $96.04.

Shares of NASDAQ:ROST traded up $1.55 during midday trading on Friday, hitting $95.87. The company’s stock had a trading volume of 2,986,232 shares, compared to its average volume of 2,705,214. The company has a market cap of $37.00 billion, a P/E ratio of 28.70, a P/E/G ratio of 2.41 and a beta of 1.09. Ross Stores has a fifty-two week low of $62.34 and a fifty-two week high of $100.58. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.85 and a current ratio of 1.71.

Ross Stores (NASDAQ:ROST) last issued its quarterly earnings results on Thursday, August 23rd. The apparel retailer reported $1.04 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.01 by $0.03. The company had revenue of $3.74 billion for the quarter, compared to the consensus estimate of $3.66 billion. Ross Stores had a return on equity of 47.56% and a net margin of 10.41%. The firm’s revenue was up 8.9% compared to the same quarter last year. During the same period last year, the business posted $0.82 earnings per share. As a group, equities analysts predict that Ross Stores will post 4.12 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 28th. Shareholders of record on Thursday, September 13th were issued a dividend of $0.225 per share. This represents a $0.90 dividend on an annualized basis and a yield of 0.94%. The ex-dividend date was Wednesday, September 12th. Ross Stores’s payout ratio is 26.95%.

In other Ross Stores news, Director Norman A. Ferber sold 10,144 shares of Ross Stores stock in a transaction that occurred on Monday, August 27th. The stock was sold at an average price of $94.90, for a total transaction of $962,665.60. Following the sale, the director now directly owns 25,127 shares of the company’s stock, valued at $2,384,552.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.40% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Voya Investment Management LLC raised its stake in shares of Ross Stores by 379.2% in the second quarter. Voya Investment Management LLC now owns 1,769,749 shares of the apparel retailer’s stock valued at $149,986,000 after acquiring an additional 1,400,405 shares during the last quarter. Marshall Wace LLP raised its stake in shares of Ross Stores by 3,515.8% in the second quarter. Marshall Wace LLP now owns 789,183 shares of the apparel retailer’s stock valued at $66,883,000 after acquiring an additional 767,357 shares during the last quarter. Massachusetts Financial Services Co. MA raised its stake in shares of Ross Stores by 15.6% in the second quarter. Massachusetts Financial Services Co. MA now owns 5,360,522 shares of the apparel retailer’s stock valued at $454,305,000 after acquiring an additional 724,764 shares during the last quarter. Jennison Associates LLC raised its stake in shares of Ross Stores by 70.2% in the second quarter. Jennison Associates LLC now owns 1,710,090 shares of the apparel retailer’s stock valued at $144,930,000 after acquiring an additional 705,317 shares during the last quarter. Finally, Millennium Management LLC raised its stake in shares of Ross Stores by 29.8% in the first quarter. Millennium Management LLC now owns 2,603,686 shares of the apparel retailer’s stock valued at $203,035,000 after acquiring an additional 598,433 shares during the last quarter. 88.24% of the stock is currently owned by institutional investors.

About Ross Stores

Ross Stores, Inc, together with its subsidiaries, operates off-price retail apparel and home fashion stores under the Ross Dress for Less and dd's DISCOUNTS brands in the United States. It primarily offers apparel, accessories, footwear, and home fashions. The company's Ross Dress for Less stores sell its products at department and specialty stores primarily to middle income households; and dd's DISCOUNTS stores sell its products at department and discount stores regular prices to customers from households with moderate income.

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Analyst Recommendations for Ross Stores (NASDAQ:ROST)

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