Ross Stores, Inc. (NASDAQ:ROST) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of Ross Stores, Inc. (NASDAQ:ROSTGet Free Report) have received a consensus recommendation of “Moderate Buy” from the eighteen research firms that are currently covering the stock, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating on the company. The average 12-month price target among brokers that have covered the stock in the last year is $155.21.

Several research firms recently issued reports on ROST. Guggenheim upped their target price on Ross Stores from $140.00 to $165.00 and gave the stock a “buy” rating in a report on Wednesday, March 6th. Wells Fargo & Company upped their target price on Ross Stores from $140.00 to $150.00 and gave the stock an “overweight” rating in a report on Friday, December 22nd. Barclays upped their target price on Ross Stores from $160.00 to $163.00 and gave the stock an “overweight” rating in a report on Wednesday, March 6th. BMO Capital Markets upped their target price on Ross Stores from $138.00 to $165.00 and gave the stock an “outperform” rating in a report on Wednesday, March 6th. Finally, UBS Group boosted their price target on Ross Stores from $142.00 to $145.00 and gave the stock a “neutral” rating in a research report on Wednesday, March 6th.

Read Our Latest Stock Analysis on Ross Stores

Ross Stores Stock Down 0.3 %

NASDAQ ROST opened at $146.76 on Monday. The stock has a fifty day moving average of $145.18 and a 200-day moving average of $132.15. The stock has a market capitalization of $49.41 billion, a P/E ratio of 26.40, a price-to-earnings-growth ratio of 2.09 and a beta of 1.04. Ross Stores has a 52 week low of $99.00 and a 52 week high of $151.12. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.24 and a current ratio of 1.77.

Ross Stores (NASDAQ:ROSTGet Free Report) last announced its quarterly earnings data on Tuesday, March 5th. The apparel retailer reported $1.82 EPS for the quarter, topping analysts’ consensus estimates of $1.63 by $0.19. The business had revenue of $6.02 billion during the quarter, compared to analysts’ expectations of $5.81 billion. Ross Stores had a return on equity of 41.15% and a net margin of 9.20%. The firm’s quarterly revenue was up 15.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.31 earnings per share. On average, equities research analysts forecast that Ross Stores will post 5.89 EPS for the current year.

Ross Stores Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were issued a dividend of $0.3675 per share. This is a positive change from Ross Stores’s previous quarterly dividend of $0.34. This represents a $1.47 dividend on an annualized basis and a dividend yield of 1.00%. The ex-dividend date of this dividend was Thursday, March 14th. Ross Stores’s dividend payout ratio is currently 26.44%.

Ross Stores announced that its board has authorized a share buyback program on Tuesday, March 5th that permits the company to buyback $2.10 billion in shares. This buyback authorization permits the apparel retailer to purchase up to 4.3% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its stock is undervalued.

Insider Transactions at Ross Stores

In related news, COO Michael J. Hartshorn sold 19,014 shares of the stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $146.39, for a total value of $2,783,459.46. Following the completion of the transaction, the chief operating officer now directly owns 119,962 shares of the company’s stock, valued at $17,561,237.18. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other Ross Stores news, COO Michael J. Hartshorn sold 21,056 shares of the firm’s stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $145.14, for a total transaction of $3,056,067.84. Following the completion of the transaction, the chief operating officer now owns 114,488 shares of the company’s stock, valued at $16,616,788.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Michael J. Hartshorn sold 19,014 shares of the firm’s stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $146.39, for a total transaction of $2,783,459.46. Following the sale, the chief operating officer now directly owns 119,962 shares of the company’s stock, valued at approximately $17,561,237.18. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 53,069 shares of company stock worth $7,735,977. Company insiders own 2.00% of the company’s stock.

Institutional Investors Weigh In On Ross Stores

Several institutional investors and hedge funds have recently made changes to their positions in ROST. First Capital Advisors Group LLC. purchased a new position in shares of Ross Stores during the 2nd quarter worth $27,000. Resurgent Financial Advisors LLC purchased a new position in shares of Ross Stores during the 4th quarter worth $29,000. Quarry LP purchased a new position in shares of Ross Stores during the 1st quarter worth $29,000. Clearstead Advisors LLC boosted its stake in shares of Ross Stores by 458.0% during the 3rd quarter. Clearstead Advisors LLC now owns 279 shares of the apparel retailer’s stock worth $32,000 after acquiring an additional 229 shares during the last quarter. Finally, Geneos Wealth Management Inc. boosted its stake in shares of Ross Stores by 52.9% during the 4th quarter. Geneos Wealth Management Inc. now owns 240 shares of the apparel retailer’s stock worth $33,000 after acquiring an additional 83 shares during the last quarter. Institutional investors own 86.86% of the company’s stock.

About Ross Stores

(Get Free Report

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 brand names in the United States. Its stores primarily offer 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 for households with moderate income.

Featured Articles

Analyst Recommendations for Ross Stores (NASDAQ:ROST)

Receive News & Ratings for Ross Stores Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ross Stores and related companies with MarketBeat.com's FREE daily email newsletter.