Evercore ISI Increases Ross Stores (NASDAQ:ROST) Price Target to $165.00

Ross Stores (NASDAQ:ROSTFree Report) had its price objective boosted by Evercore ISI from $155.00 to $165.00 in a report released on Friday morning, Benzinga reports. The brokerage currently has an outperform rating on the apparel retailer’s stock.

Several other research firms have also commented on ROST. Telsey Advisory Group reissued a market perform rating and issued a $160.00 target price on shares of Ross Stores in a report on Friday. UBS Group increased their target price on Ross Stores from $142.00 to $145.00 and gave the company a neutral rating in a report on Wednesday, March 6th. Citigroup increased their target price on Ross Stores from $147.00 to $172.00 and gave the company a buy rating in a report on Wednesday, March 6th. Guggenheim increased their target price on Ross Stores from $140.00 to $165.00 and gave the company a buy rating in a report on Wednesday, March 6th. Finally, BMO Capital Markets increased their target price on Ross Stores from $138.00 to $165.00 and gave the company an outperform rating in a report on Wednesday, March 6th. Four equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat.com, Ross Stores has an average rating of Moderate Buy and a consensus price target of $156.58.

Check Out Our Latest Research Report on ROST

Ross Stores Stock Up 7.8 %

Ross Stores stock opened at $142.13 on Friday. Ross Stores has a twelve month low of $100.66 and a twelve month high of $151.12. The stock’s fifty day simple moving average is $136.85 and its 200-day simple moving average is $137.76. The company has a current ratio of 1.77, a quick ratio of 1.24 and a debt-to-equity ratio of 0.45. The firm has a market capitalization of $47.86 billion, a P/E ratio of 23.97, a P/E/G ratio of 2.14 and a beta of 1.06.

Ross Stores (NASDAQ:ROSTGet Free Report) last posted its quarterly earnings data on Thursday, May 23rd. The apparel retailer reported $1.46 earnings per share for the quarter, topping analysts’ consensus estimates of $1.35 by $0.11. Ross Stores had a return on equity of 42.95% and a net margin of 9.60%. The business had revenue of $4.86 billion for the quarter, compared to analyst estimates of $4.83 billion. During the same quarter in the prior year, the company earned $1.09 earnings per share. The company’s revenue was up 8.1% on a year-over-year basis. As a group, equities analysts expect that Ross Stores will post 5.93 earnings per share for the current fiscal year.

Ross Stores declared that its board has initiated a share buyback program on Tuesday, March 5th that authorizes the company to buyback $2.10 billion in outstanding shares. This buyback authorization authorizes the apparel retailer to buy up to 4.3% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

Ross Stores Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Tuesday, June 11th will be issued a dividend of $0.3675 per share. This represents a $1.47 dividend on an annualized basis and a dividend yield of 1.03%. The ex-dividend date of this dividend is Tuesday, June 11th. Ross Stores’s dividend payout ratio is currently 24.79%.

Insider Buying and Selling

In related news, insider Michael K. Kobayashi sold 13,860 shares of the firm’s stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $147.46, for a total transaction of $2,043,795.60. Following the transaction, the insider now owns 61,657 shares of the company’s stock, valued at $9,091,941.22. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other Ross Stores news, Director Patricia H. Mueller sold 2,265 shares of Ross Stores stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $145.38, for a total value of $329,285.70. Following the sale, the director now owns 1,914 shares of the company’s stock, valued at approximately $278,257.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Michael K. Kobayashi sold 13,860 shares of Ross Stores stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $147.46, for a total value of $2,043,795.60. Following the completion of the sale, the insider now directly owns 61,657 shares in the company, valued at approximately $9,091,941.22. The disclosure for this sale can be found here. Insiders have sold a total of 71,097 shares of company stock valued at $10,396,178 over the last quarter. 2.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Ross Stores

A number of institutional investors have recently added to or reduced their stakes in ROST. Private Advisor Group LLC boosted its holdings in Ross Stores by 2.2% in the 3rd quarter. Private Advisor Group LLC now owns 8,271 shares of the apparel retailer’s stock valued at $934,000 after purchasing an additional 177 shares in the last quarter. Signaturefd LLC lifted its position in shares of Ross Stores by 7.5% during the 3rd quarter. Signaturefd LLC now owns 5,182 shares of the apparel retailer’s stock valued at $585,000 after acquiring an additional 363 shares during the period. NBC Securities Inc. acquired a new stake in shares of Ross Stores during the 3rd quarter valued at approximately $503,000. Ieq Capital LLC lifted its position in shares of Ross Stores by 7.8% during the 3rd quarter. Ieq Capital LLC now owns 10,448 shares of the apparel retailer’s stock valued at $1,180,000 after acquiring an additional 754 shares during the period. Finally, Los Angeles Capital Management LLC lifted its position in shares of Ross Stores by 157.7% during the 3rd quarter. Los Angeles Capital Management LLC now owns 66,773 shares of the apparel retailer’s stock valued at $7,542,000 after acquiring an additional 40,866 shares during the period. Hedge funds and other institutional investors own 86.86% of the company’s stock.

Ross Stores Company Profile

(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 to middle income households; and dd's DISCOUNTS stores sell its products at department and discount stores for households with moderate income.

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