Shares of Ross Stores, Inc. (NASDAQ:ROST) have received an average recommendation of “Buy” from the twenty-eight analysts that are currently covering the firm, MarketBeat reports. Ten investment analysts have rated the stock with a hold recommendation and eighteen have given a buy recommendation to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $97.91.
A number of research firms recently weighed in on ROST. Guggenheim reiterated a “buy” rating and issued a $105.00 price target on shares of Ross Stores in a research report on Friday. BidaskClub upgraded Ross Stores from a “hold” rating to a “buy” rating in a research report on Wednesday. Zacks Investment Research upgraded Ross Stores from a “sell” rating to a “hold” rating in a research report on Monday, May 13th. Robert W. Baird began coverage on Ross Stores in a research report on Monday, May 13th. They issued an “outperform” rating and a $108.00 price target for the company. Finally, Credit Suisse Group increased their price target on Ross Stores from $95.00 to $100.00 and gave the company an “outperform” rating in a research report on Wednesday, March 6th.
In other news, EVP Michael J. Hartshorn sold 9,924 shares of the firm’s stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $91.48, for a total transaction of $907,847.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Michael Balmuth sold 25,689 shares of the firm’s stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $90.77, for a total value of $2,331,790.53. Following the sale, the chairman now directly owns 51,998 shares of the company’s stock, valued at $4,719,858.46. The disclosure for this sale can be found here. Over the last three months, insiders sold 137,054 shares of company stock valued at $12,504,328. Company insiders own 2.30% of the company’s stock.
NASDAQ:ROST opened at $92.78 on Thursday. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.69 and a quick ratio of 0.82. Ross Stores has a 1-year low of $75.91 and a 1-year high of $104.35. The firm has a market capitalization of $34.09 billion, a P/E ratio of 21.78, a P/E/G ratio of 2.08 and a beta of 0.89.
Ross Stores (NASDAQ:ROST) last released its quarterly earnings results on Thursday, May 23rd. The apparel retailer reported $1.13 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.12 by $0.01. Ross Stores had a return on equity of 49.58% and a net margin of 10.60%. The business had revenue of $3.80 billion during the quarter, compared to analyst estimates of $3.79 billion. During the same quarter last year, the company posted $1.11 EPS. Ross Stores’s revenue for the quarter was up 5.8% on a year-over-year basis. Research analysts expect that Ross Stores will post 4.5 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Tuesday, June 11th will be paid a $0.255 dividend. This represents a $1.02 annualized dividend and a yield of 1.10%. The ex-dividend date of this dividend is Monday, June 10th. Ross Stores’s dividend payout ratio is currently 23.94%.
Ross Stores announced that its Board of Directors has initiated a stock repurchase program on Tuesday, March 5th that allows the company to repurchase $2.55 billion in shares. This repurchase authorization allows the apparel retailer to purchase up to 7.3% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its shares are 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. Its stores 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.
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