Shares of Ross Stores (NASDAQ:ROST) have been assigned an average rating of “Buy” from the twenty-six ratings firms that are presently covering the firm, MarketBeat reports. Seven equities research analysts have rated the stock with a hold rating and nineteen have issued a buy rating on the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $82.62.
ROST has been the topic of a number of recent research reports. BMO Capital Markets restated a “hold” rating and issued a $78.00 target price on shares of Ross Stores in a report on Wednesday, March 7th. Morgan Stanley raised their target price on Ross Stores from $89.00 to $94.00 and gave the company an “overweight” rating in a report on Wednesday, March 7th. Buckingham Research restated a “neutral” rating and issued a $86.00 target price (up previously from $82.00) on shares of Ross Stores in a report on Wednesday, March 7th. Deutsche Bank initiated coverage on Ross Stores in a report on Monday, April 30th. They issued a “buy” rating and a $94.00 target price on the stock. Finally, OTR Global initiated coverage on Ross Stores in a report on Tuesday, May 8th. They issued a “positive” rating on the stock.
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In related news, CEO Barbara Rentler sold 32,430 shares of the stock in a transaction that occurred on Thursday, April 5th. The stock was sold at an average price of $79.53, for a total transaction of $2,579,157.90. Following the completion of the sale, the chief executive officer now directly owns 534,318 shares of the company’s stock, valued at $42,494,310.54. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Lisa R. Panattoni sold 12,471 shares of the stock in a transaction that occurred on Thursday, April 5th. The shares were sold at an average price of $79.48, for a total value of $991,195.08. Following the sale, the insider now directly owns 93,711 shares of the company’s stock, valued at $7,448,150.28. The disclosure for this sale can be found here. Insiders have sold 256,652 shares of company stock valued at $19,829,016 over the last ninety days. 2.30% of the stock is currently owned by company insiders.
Several institutional investors and hedge funds have recently modified their holdings of the stock. Lucia Wealth Services LLC purchased a new stake in Ross Stores in the first quarter worth $112,000. Well Done LLC purchased a new stake in Ross Stores in the first quarter worth $113,000. Cerebellum GP LLC purchased a new stake in Ross Stores in the fourth quarter worth $132,000. Ballew Advisors Inc purchased a new stake in Ross Stores in the first quarter worth $134,000. Finally, Sit Investment Associates Inc. increased its position in Ross Stores by 255.1% in the fourth quarter. Sit Investment Associates Inc. now owns 1,900 shares of the apparel retailer’s stock worth $152,000 after buying an additional 1,365 shares during the last quarter. 90.21% of the stock is owned by institutional investors.
Ross Stores traded down $0.95, hitting $82.48, on Friday, MarketBeat reports. The stock had a trading volume of 1,516,613 shares, compared to its average volume of 2,583,546. The firm has a market cap of $31.57 billion, a P/E ratio of 24.69, a PEG ratio of 2.07 and a beta of 1.06. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.78 and a current ratio of 1.64. Ross Stores has a 52 week low of $83.07 and a 52 week high of $84.50.
Ross Stores (NASDAQ:ROST) last announced its quarterly earnings results on Tuesday, March 6th. The apparel retailer reported $0.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.93 by $0.05. The business had revenue of $4.07 billion for the quarter, compared to analyst estimates of $3.95 billion. Ross Stores had a return on equity of 44.53% and a net margin of 9.64%. equities analysts forecast that Ross Stores will post 4.03 earnings per share for the current fiscal year.
Ross Stores announced that its Board of Directors has approved a share buyback plan on Tuesday, March 6th that allows the company to buyback $200.00 million in shares. This buyback authorization allows the apparel retailer to repurchase shares of its stock through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its stock is undervalued.
About Ross Stores
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 brands in the United States. It primarily offers apparel, accessories, footwear, and home fashions. The company's Ross Dress for Less stores sell its products at department and specialty stores primarily to middle income households; and dd's DISCOUNTS stores sell its products at department and discount stores regular prices to customers from households with moderate income.