BMO Capital Markets set a $65.00 target price on Ross Stores, Inc. (NASDAQ:ROST) in a research note released on Tuesday, August 8th. The brokerage currently has a hold rating on the apparel retailer’s stock.
A number of other brokerages also recently commented on ROST. Zacks Investment Research downgraded shares of Ross Stores from a hold rating to a sell rating in a research note on Tuesday, May 2nd. Royal Bank Of Canada set a $70.00 target price on shares of Ross Stores and gave the stock a hold rating in a research note on Monday, May 15th. Jefferies Group LLC reiterated a hold rating and set a $63.00 target price on shares of Ross Stores in a research note on Tuesday, May 16th. Morgan Stanley reiterated an overweight rating and set a $69.00 target price on shares of Ross Stores in a research note on Monday, May 22nd. Finally, William Blair restated an outperform rating on shares of Ross Stores in a research note on Monday, May 22nd. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and fifteen have issued a buy rating to the company’s stock. Ross Stores currently has an average rating of Buy and an average price target of $69.87.
Shares of Ross Stores (NASDAQ ROST) traded up 10.67% during trading on Tuesday, reaching $59.02. The company’s stock had a trading volume of 14,140,321 shares. Ross Stores has a 12-month low of $52.85 and a 12-month high of $69.81. The company has a 50 day moving average of $55.18 and a 200-day moving average of $62.10. The stock has a market cap of $22.97 billion, a price-to-earnings ratio of 20.22 and a beta of 1.10. Ross Stores also was the target of unusually large options trading on Tuesday. Traders acquired 12,143 call options on the company. This is an increase of approximately 1,039% compared to the typical daily volume of 1,066 call options.
Ross Stores (NASDAQ:ROST) last posted its quarterly earnings data on Thursday, August 17th. The apparel retailer reported $0.82 earnings per share for the quarter, topping analysts’ consensus estimates of $0.77 by $0.05. Ross Stores had a return on equity of 42.56% and a net margin of 8.77%. The business had revenue of $3.43 billion for the quarter, compared to analyst estimates of $3.37 billion. During the same quarter in the prior year, the company earned $0.71 earnings per share. The company’s revenue was up 7.9% on a year-over-year basis. Analysts forecast that Ross Stores will post $3.17 EPS for the current year.
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The firm also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Thursday, September 7th will be paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.08%. The ex-dividend date of this dividend is Wednesday, September 6th. Ross Stores’s dividend payout ratio is presently 21.92%.
In other news, Director Sharon D. Garrett sold 16,130 shares of the firm’s stock in a transaction on Friday, May 26th. The shares were sold at an average price of $63.23, for a total value of $1,019,899.90. Following the transaction, the director now owns 4,967 shares of the company’s stock, valued at approximately $314,063.41. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 2.30% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in ROST. Guardian Life Insurance Co. of America increased its stake in Ross Stores by 0.7% in the first quarter. Guardian Life Insurance Co. of America now owns 1,529 shares of the apparel retailer’s stock valued at $101,000 after buying an additional 10 shares during the period. Balentine LLC increased its stake in Ross Stores by 0.3% in the second quarter. Balentine LLC now owns 1,775 shares of the apparel retailer’s stock valued at $102,000 after buying an additional 5 shares during the period. TrimTabs Asset Management LLC increased its stake in Ross Stores by 89.2% in the first quarter. TrimTabs Asset Management LLC now owns 1,646 shares of the apparel retailer’s stock valued at $108,000 after buying an additional 776 shares during the period. Parkside Financial Bank & Trust increased its stake in Ross Stores by 3.4% in the second quarter. Parkside Financial Bank & Trust now owns 1,868 shares of the apparel retailer’s stock valued at $108,000 after buying an additional 61 shares during the period. Finally, Parallel Advisors LLC increased its stake in Ross Stores by 39.1% in the first quarter. Parallel Advisors LLC now owns 1,701 shares of the apparel retailer’s stock valued at $111,000 after buying an additional 478 shares during the period. 90.20% of the stock is currently owned by hedge funds and other institutional investors.
Ross Stores Company Profile
Ross Stores, Inc and its subsidiaries operate two brands of off-price retail apparel and home fashion stores-Ross Dress for Less (Ross) and dd’s DISCOUNTS. The Company is the off-price apparel and home fashion chain in the United States, with 1,340 locations in 36 states, the District of Columbia and Guam, as of January 28, 2017.
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