Ross Stores, Inc. (ROST) Receives Consensus Rating of “Buy” from Analysts

Shares of Ross Stores, Inc. (NASDAQ:ROST) have been assigned a consensus recommendation of “Buy” from the twenty-five ratings firms that are currently covering the company, MarketBeat.com reports. Nine research analysts have rated the stock with a hold recommendation and sixteen have assigned a buy recommendation to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $74.00.

ROST has been the topic of several research analyst reports. BidaskClub raised shares of Ross Stores from a “hold” rating to a “buy” rating in a report on Wednesday, December 27th. Jefferies Group set a $66.00 target price on shares of Ross Stores and gave the stock a “hold” rating in a report on Saturday, November 18th. Cowen set a $78.00 target price on shares of Ross Stores and gave the stock a “buy” rating in a report on Saturday, November 18th. Telsey Advisory Group reissued a “buy” rating on shares of Ross Stores in a report on Friday, November 17th. Finally, SunTrust Banks set a $80.00 target price on shares of Ross Stores and gave the stock a “buy” rating in a report on Friday, November 17th.

Several institutional investors have recently made changes to their positions in the stock. Balentine LLC grew its stake in shares of Ross Stores by 0.3% during the 2nd quarter. Balentine LLC now owns 1,775 shares of the apparel retailer’s stock worth $102,000 after purchasing an additional 5 shares during the period. Acrospire Investment Management LLC lifted its position in shares of Ross Stores by 100.0% during the 2nd quarter. Acrospire Investment Management LLC now owns 2,000 shares of the apparel retailer’s stock valued at $115,000 after buying an additional 1,000 shares in the last quarter. Zions Bancorporation lifted its position in shares of Ross Stores by 338.9% during the 3rd quarter. Zions Bancorporation now owns 2,120 shares of the apparel retailer’s stock valued at $137,000 after buying an additional 1,637 shares in the last quarter. Sun Life Financial INC lifted its position in shares of Ross Stores by 20,314.3% during the 2nd quarter. Sun Life Financial INC now owns 2,858 shares of the apparel retailer’s stock valued at $165,000 after buying an additional 2,844 shares in the last quarter. Finally, Cadinha & Co. LLC purchased a new position in shares of Ross Stores during the 3rd quarter valued at approximately $211,000. 91.43% of the stock is owned by hedge funds and other institutional investors.

Shares of Ross Stores (NASDAQ:ROST) traded up $1.06 during mid-day trading on Monday, hitting $81.97. 2,224,400 shares of the stock were exchanged, compared to its average volume of 2,396,875. Ross Stores has a 52-week low of $52.85 and a 52-week high of $82.12. The company has a market capitalization of $31,060.00, a price-to-earnings ratio of 26.19, a PEG ratio of 2.50 and a beta of 1.14. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.57 and a quick ratio of 0.68.

Ross Stores (NASDAQ:ROST) last announced its quarterly earnings results on Thursday, November 16th. The apparel retailer reported $0.72 EPS for the quarter, topping analysts’ consensus estimates of $0.67 by $0.05. The firm had revenue of $3.33 billion during the quarter, compared to analyst estimates of $3.26 billion. Ross Stores had a net margin of 8.93% and a return on equity of 43.21%. The business’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same period in the previous year, the business posted $0.62 earnings per share. sell-side analysts forecast that Ross Stores will post 3.28 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 29th. Investors of record on Friday, December 1st were given a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 0.78%. The ex-dividend date was Thursday, November 30th. Ross Stores’s payout ratio is currently 20.45%.

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About Ross Stores

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.

Analyst Recommendations for Ross Stores (NASDAQ:ROST)

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