Ross Stores (NASDAQ:ROST) Rating Increased to Buy at BidaskClub

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Ross Stores (NASDAQ:ROST) was upgraded by analysts at BidaskClub from a “hold” rating to a “buy” rating in a note issued to investors on Thursday, BidAskClub reports.

Other equities analysts have also recently issued research reports about the company. Guggenheim reaffirmed a “buy” rating and issued a $60.00 target price on shares of Foot Locker in a report on Friday, May 24th. Robert W. Baird initiated coverage on TJX Companies in a research note on Monday, May 13th. They issued an “outperform” rating and a $63.00 price target for the company. Zacks Investment Research raised Gerdau from a “sell” rating to a “hold” rating in a research note on Monday, May 13th. Goldman Sachs Group raised to a “neutral” rating and decreased their price target for the company from GBX 1,855 ($24.24) to GBX 1,800 ($23.52) in a research note on Thursday, June 27th. Finally, Telsey Advisory Group cut Ross Stores from an “outperform” rating to a “market perform” rating and set a $103.00 price target for the company. in a research note on Monday, June 24th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and sixteen have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $98.64.

Shares of ROST opened at $106.02 on Thursday. Ross Stores has a 12-month low of $75.91 and a 12-month high of $106.78. The stock has a 50-day moving average price of $98.93. The company has a current ratio of 1.34, a quick ratio of 0.64 and a debt-to-equity ratio of 0.87. The firm has a market cap of $38.67 billion, a PE ratio of 24.89, a PEG ratio of 2.19 and a beta of 0.90.

Ross Stores (NASDAQ:ROST) last issued its earnings results on Thursday, May 23rd. The apparel retailer reported $1.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.12 by $0.01. Ross Stores had a return on equity of 48.92% and a net margin of 10.47%. The business had revenue of $3.80 billion during the quarter, compared to analysts’ expectations of $3.79 billion. During the same quarter in the prior year, the firm earned $1.11 EPS. The business’s revenue for the quarter was up 5.8% compared to the same quarter last year. As a group, equities analysts forecast that Ross Stores will post 4.51 earnings per share for the current fiscal year.

In related news, CEO Barbara Rentler sold 40,000 shares of the stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $99.16, for a total transaction of $3,966,400.00. Following the completion of the sale, the chief executive officer now directly owns 473,922 shares of the company’s stock, valued at $46,994,105.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Michael Balmuth sold 81,049 shares of the firm’s stock in a transaction on Friday, May 31st. The stock was sold at an average price of $92.87, for a total value of $7,527,020.63. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 182,049 shares of company stock worth $17,798,721. 2.30% of the stock is owned by corporate insiders.

Several institutional investors have recently bought and sold shares of the company. Geode Capital Management LLC increased its holdings in shares of Ross Stores by 8.1% in the fourth quarter. Geode Capital Management LLC now owns 6,088,490 shares of the apparel retailer’s stock worth $505,856,000 after buying an additional 456,445 shares during the period. Northern Trust Corp increased its holdings in shares of Ross Stores by 2.2% in the first quarter. Northern Trust Corp now owns 4,828,660 shares of the apparel retailer’s stock worth $449,548,000 after buying an additional 105,658 shares during the period. Norges Bank purchased a new position in shares of Ross Stores in the fourth quarter worth about $298,173,000. Janus Henderson Group PLC increased its holdings in shares of Ross Stores by 17.9% in the first quarter. Janus Henderson Group PLC now owns 2,499,921 shares of the apparel retailer’s stock worth $232,744,000 after buying an additional 379,598 shares during the period. Finally, California Public Employees Retirement System increased its holdings in shares of Ross Stores by 21.0% in the first quarter. California Public Employees Retirement System now owns 2,410,916 shares of the apparel retailer’s stock worth $224,456,000 after buying an additional 418,404 shares during the period. 89.62% of the stock is owned by hedge funds and other institutional investors.

Ross Stores Company Profile

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. Its stores 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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