Analysts Set Ross Stores, Inc. (NASDAQ:ROST) Price Target at $156.58

Ross Stores, Inc. (NASDAQ:ROSTGet Free Report) has earned a consensus rating of “Moderate Buy” from the eighteen research firms that are currently covering the company, MarketBeat.com reports. Four equities research analysts have rated the stock with a hold recommendation and fourteen have assigned a buy recommendation to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $156.58.

ROST has been the subject of several analyst reports. Evercore ISI boosted their price target on Ross Stores from $155.00 to $165.00 and gave the company an “outperform” rating in a report on Friday, May 24th. Morgan Stanley raised their price objective on Ross Stores from $159.00 to $161.00 and gave the stock an “overweight” rating in a report on Friday, May 24th. The Goldman Sachs Group boosted their target price on Ross Stores from $143.00 to $163.00 and gave the stock a “buy” rating in a report on Wednesday, March 6th. Telsey Advisory Group restated a “market perform” rating and issued a $160.00 price target on shares of Ross Stores in a report on Friday, June 14th. Finally, Barclays boosted their price objective on shares of Ross Stores from $163.00 to $165.00 and gave the stock an “overweight” rating in a research note on Friday, May 24th.

View Our Latest Research Report on ROST

Insider Buying and Selling

In other Ross Stores news, CMO Brian R. Morrow sold 10,734 shares of the stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $146.00, for a total transaction of $1,567,164.00. Following the sale, the chief marketing officer now directly owns 62,711 shares of the company’s stock, valued at $9,155,806. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, COO Michael J. Hartshorn sold 19,014 shares of the company’s stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $146.39, for a total transaction of $2,783,459.46. Following the completion of the transaction, the chief operating officer now directly owns 119,962 shares in the company, valued at approximately $17,561,237.18. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CMO Brian R. Morrow sold 10,734 shares of the firm’s stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $146.00, for a total value of $1,567,164.00. Following the completion of the sale, the chief marketing officer now owns 62,711 shares in the company, valued at $9,155,806. The disclosure for this sale can be found here. Insiders have sold 48,717 shares of company stock worth $7,141,031 over the last ninety days. 2.10% of the stock is owned by insiders.

Institutional Trading of Ross Stores

Large investors have recently modified their holdings of the company. Riverview Trust Co acquired a new stake in shares of Ross Stores in the first quarter valued at approximately $26,000. Rise Advisors LLC bought a new position in Ross Stores in the 1st quarter worth approximately $27,000. Geneos Wealth Management Inc. increased its position in Ross Stores by 52.9% in the 4th quarter. Geneos Wealth Management Inc. now owns 240 shares of the apparel retailer’s stock valued at $33,000 after acquiring an additional 83 shares during the period. Rock Creek Group LP bought a new stake in Ross Stores during the 3rd quarter valued at $35,000. Finally, Raleigh Capital Management Inc. boosted its position in Ross Stores by 41.8% during the 4th quarter. Raleigh Capital Management Inc. now owns 251 shares of the apparel retailer’s stock worth $35,000 after acquiring an additional 74 shares during the period. Institutional investors and hedge funds own 86.86% of the company’s stock.

Ross Stores Price Performance

ROST stock opened at $148.69 on Friday. The stock’s 50 day moving average price is $136.81 and its 200 day moving average price is $139.70. The firm has a market cap of $49.60 billion, a P/E ratio of 25.07, a PEG ratio of 2.64 and a beta of 1.08. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.03 and a current ratio of 1.54. Ross Stores has a 1 year low of $106.47 and a 1 year high of $151.12.

Ross Stores (NASDAQ:ROSTGet Free Report) last issued its quarterly earnings data on Thursday, May 23rd. The apparel retailer reported $1.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.35 by $0.11. The business had revenue of $4.86 billion for the quarter, compared to the consensus estimate of $4.83 billion. Ross Stores had a return on equity of 42.24% and a net margin of 9.60%. The business’s revenue was up 8.1% on a year-over-year basis. During the same period in the prior year, the business earned $1.09 earnings per share. On average, sell-side analysts expect that Ross Stores will post 5.97 earnings per share for the current fiscal year.

Ross Stores announced that its Board of Directors has authorized a share buyback plan on Tuesday, March 5th that permits the company to repurchase $2.10 billion in shares. This repurchase authorization permits the apparel retailer to purchase up to 4.3% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its shares are undervalued.

Ross Stores Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Tuesday, June 11th will be given a dividend of $0.3675 per share. The ex-dividend date of this dividend is Tuesday, June 11th. This represents a $1.47 annualized dividend and a dividend yield of 0.99%. Ross Stores’s payout ratio is 24.79%.

About Ross Stores

(Get Free Report

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 brand names in the United States. Its stores primarily offer apparel, accessories, footwear, and home fashions. The company's Ross Dress for Less stores sell its products at department and specialty stores to middle income households; and dd's DISCOUNTS stores sell its products at department and discount stores for households with moderate income.

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Analyst Recommendations for Ross Stores (NASDAQ:ROST)

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