Ross Stores, Inc. (NASDAQ:ROST) Given Average Recommendation of “Moderate Buy” by Analysts
by Amy Steele · The Cerbat GemRoss Stores, Inc. (NASDAQ:ROST – Get Free Report) has been given a consensus recommendation of “Moderate Buy” by the twenty-one ratings firms that are presently covering the stock, Marketbeat reports. Five research analysts have rated the stock with a hold rating and sixteen have issued a buy rating on the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $212.0588.
Several equities research analysts recently issued reports on ROST shares. Barclays increased their target price on shares of Ross Stores from $205.00 to $221.00 and gave the stock an “overweight” rating in a report on Monday, March 2nd. Zacks Research cut shares of Ross Stores from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 2nd. Citigroup raised their target price on shares of Ross Stores from $224.00 to $240.00 and gave the stock a “buy” rating in a research note on Wednesday, March 4th. Telsey Advisory Group restated an “outperform” rating and set a $240.00 target price on shares of Ross Stores in a research note on Thursday, March 26th. Finally, Deutsche Bank Aktiengesellschaft set a $221.00 target price on shares of Ross Stores in a research note on Thursday, January 8th.
View Our Latest Report on Ross Stores
Ross Stores Stock Performance
Shares of NASDAQ:ROST traded down $0.39 during trading on Tuesday, hitting $225.78. The company’s stock had a trading volume of 284,878 shares, compared to its average volume of 2,475,073. The company has a 50-day moving average of $213.92 and a 200-day moving average of $189.69. Ross Stores has a 12 month low of $124.49 and a 12 month high of $230.44. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.58 and a quick ratio of 1.04. The firm has a market cap of $72.73 billion, a price-to-earnings ratio of 34.16, a P/E/G ratio of 3.08 and a beta of 0.92.
Ross Stores (NASDAQ:ROST – Get Free Report) last issued its quarterly earnings data on Tuesday, March 3rd. The apparel retailer reported $2.00 earnings per share for the quarter, topping the consensus estimate of $1.90 by $0.10. Ross Stores had a net margin of 9.43% and a return on equity of 36.70%. The firm had revenue of $6.64 billion for the quarter, compared to analysts’ expectations of $6.42 billion. During the same quarter in the prior year, the business earned $1.65 EPS. The business’s quarterly revenue was up 12.2% on a year-over-year basis. On average, sell-side analysts expect that Ross Stores will post 7.32 earnings per share for the current year.
Ross Stores Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Friday, March 13th were paid a dividend of $0.445 per share. This represents a $1.78 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date was Friday, March 13th. This is a positive change from Ross Stores’s previous quarterly dividend of $0.41. Ross Stores’s dividend payout ratio (DPR) is 26.93%.
Insiders Place Their Bets
In other Ross Stores news, Director Patricia H. Mueller sold 1,881 shares of the firm’s stock in a transaction that occurred on Tuesday, March 10th. The shares were sold at an average price of $213.13, for a total transaction of $400,897.53. Following the sale, the director owned 2,159 shares in the company, valued at approximately $460,147.67. This trade represents a 46.56% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Michael J. Hartshorn sold 15,813 shares of the firm’s stock in a transaction that occurred on Wednesday, March 25th. The stock was sold at an average price of $214.91, for a total transaction of $3,398,371.83. Following the sale, the chief operating officer owned 116,028 shares in the company, valued at approximately $24,935,577.48. The trade was a 11.99% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 25,756 shares of company stock worth $5,521,004. Company insiders own 2.10% of the company’s stock.
Institutional Investors Weigh In On Ross Stores
Several institutional investors and hedge funds have recently modified their holdings of ROST. Norges Bank bought a new stake in shares of Ross Stores during the fourth quarter valued at approximately $868,360,000. Holocene Advisors LP bought a new stake in shares of Ross Stores during the third quarter valued at approximately $351,763,000. Marshall Wace LLP raised its position in shares of Ross Stores by 1,908.8% during the third quarter. Marshall Wace LLP now owns 1,816,763 shares of the apparel retailer’s stock valued at $276,857,000 after buying an additional 1,726,324 shares during the last quarter. Bank of America Corp DE raised its position in shares of Ross Stores by 20.9% during the second quarter. Bank of America Corp DE now owns 9,582,401 shares of the apparel retailer’s stock valued at $1,222,523,000 after buying an additional 1,657,008 shares during the last quarter. Finally, Viking Global Investors LP raised its position in shares of Ross Stores by 56.5% during the fourth quarter. Viking Global Investors LP now owns 3,167,479 shares of the apparel retailer’s stock valued at $570,590,000 after buying an additional 1,143,611 shares during the last quarter. Institutional investors own 86.86% of the company’s stock.
About Ross Stores
Ross Stores, Inc (NASDAQ: ROST) is an American off‑price retailer headquartered in Dublin, California, that operates the Ross Dress for Less and dd’s DISCOUNTS store formats. The company sells a broad assortment of apparel, footwear, home fashions, accessories and other soft goods, positioning itself as a value-oriented destination for brand‑name and fashion merchandise at reduced prices.
Ross’s business model centers on opportunistic buying of excess inventory, closeouts, cancelled orders and overstocks from manufacturers, department stores and other suppliers.