Ross Stores, Inc. (NASDAQ:ROST) Given Average Rating of “Moderate Buy” by Analysts

Ross Stores, Inc. (NASDAQ:ROST) has been assigned an average recommendation of “Moderate Buy” from the twenty-one research firms that are covering the company, MarketBeat.com reports. Six investment analysts have rated the stock with a hold recommendation and fifteen have given a buy recommendation to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $263.7647.

ROST has been the topic of several recent analyst reports. Truist Financial raised their target price on Ross Stores from $290.00 to $310.00 and gave the stock a “buy” rating in a research note on Friday, August 21st. The Goldman Sachs Group reaffirmed a “buy” rating and set a $270.00 price target on shares of Ross Stores in a research report on Friday, May 22nd. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $294.00 price objective on shares of Ross Stores in a report on Friday, August 21st. Barclays lifted their price objective on Ross Stores from $260.00 to $298.00 and gave the stock an “overweight” rating in a research report on Friday, August 21st. Finally, Telsey Advisory Group upped their target price on Ross Stores from $265.00 to $280.00 and gave the company an “outperform” rating in a report on Friday, August 14th.

Ross Stores Stock Down 0.6%

Shares of NASDAQ ROST opened at $228.55 on Monday. The firm’s fifty day moving average is $233.95 and its 200 day moving average is $223.45. Ross Stores has a 52 week low of $143.39 and a 52 week high of $257.00. The company has a quick ratio of 0.98, a current ratio of 1.61 and a debt-to-equity ratio of 0.12. The company has a market cap of $73.31 billion, a price-to-earnings ratio of 27.67, a PEG ratio of 1.93 and a beta of 0.86.

Ross Stores (NASDAQ:ROST) last announced its quarterly earnings results on Thursday, August 20th. The apparel retailer reported $2.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.95 by $0.71. Ross Stores had a net margin of 10.85% and a return on equity of 39.29%. The business had revenue of $6.26 billion for the quarter, compared to analyst estimates of $6.16 billion. During the same quarter last year, the firm earned $1.56 EPS. The company’s revenue was up 13.3% on a year-over-year basis. On average, equities research analysts expect that Ross Stores will post 8.15 earnings per share for the current year.

Ross Stores Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 8th will be given 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 of this dividend is Tuesday, September 8th. Ross Stores’s payout ratio is presently 21.55%.

Institutional Investors Weigh In On Ross Stores

Several institutional investors and hedge funds have recently modified their holdings of the stock. Greenleaf Trust boosted its stake in shares of Ross Stores by 0.9% during the 2nd quarter. Greenleaf Trust now owns 6,026 shares of the apparel retailer’s stock valued at $1,283,000 after purchasing an additional 51 shares in the last quarter. Cooper Financial Group raised its stake in Ross Stores by 2.8% in the second quarter. Cooper Financial Group now owns 1,919 shares of the apparel retailer’s stock worth $409,000 after buying an additional 52 shares in the last quarter. Independent Advisor Alliance lifted its holdings in Ross Stores by 1.7% in the fourth quarter. Independent Advisor Alliance now owns 3,309 shares of the apparel retailer’s stock worth $596,000 after buying an additional 55 shares during the period. CYBER HORNET ETFs LLC boosted its position in Ross Stores by 6.1% during the 4th quarter. CYBER HORNET ETFs LLC now owns 954 shares of the apparel retailer’s stock valued at $172,000 after acquiring an additional 55 shares in the last quarter. Finally, MCF Advisors LLC boosted its position in Ross Stores by 4.6% during the 4th quarter. MCF Advisors LLC now owns 1,292 shares of the apparel retailer’s stock valued at $233,000 after acquiring an additional 57 shares in the last quarter. 86.86% of the stock is owned by hedge funds and other institutional investors.

Ross Stores Company Profile

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.