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.
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%.
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.
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