Ross Stores’ (ROST) Market Perform Rating Reiterated at Telsey Advisory Group

Telsey Advisory Group reissued their market perform rating on shares of Ross Stores (NASDAQ:ROST) in a research report sent to investors on Tuesday morning, Benzinga reports. They currently have a $175.00 price target on the apparel retailer’s stock.

ROST has been the topic of several other reports. Gordon Haskett upgraded Ross Stores to a “strong-buy” rating in a report on Friday, August 23rd. UBS Group increased their price objective on Ross Stores from $147.00 to $167.00 and gave the company a “neutral” rating in a report on Friday, August 23rd. Loop Capital lifted their target price on Ross Stores from $170.00 to $190.00 and gave the stock a “buy” rating in a report on Friday, August 23rd. Wells Fargo & Company upped their price target on Ross Stores from $160.00 to $175.00 and gave the company an “overweight” rating in a research report on Friday, August 23rd. Finally, Robert W. Baird raised their price objective on Ross Stores from $162.00 to $180.00 and gave the stock an “outperform” rating in a research report on Friday, August 23rd. Three investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $169.71.

Ross Stores Stock Performance

Shares of NASDAQ:ROST opened at $140.06 on Tuesday. Ross Stores has a 1 year low of $116.50 and a 1 year high of $163.60. The stock has a market capitalization of $46.47 billion, a price-to-earnings ratio of 22.59, a price-to-earnings-growth ratio of 2.26 and a beta of 1.09. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.56 and a quick ratio of 1.05. The company’s 50 day simple moving average is $148.27 and its 200 day simple moving average is $143.52.

Ross Stores (NASDAQ:ROST) last released its earnings results on Thursday, August 22nd. The apparel retailer reported $1.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.50 by $0.09. Ross Stores had a return on equity of 42.43% and a net margin of 9.82%. The firm had revenue of $5.29 billion for the quarter, compared to analysts’ expectations of $5.25 billion. During the same quarter in the previous year, the business posted $1.32 earnings per share. The business’s revenue for the quarter was up 7.1% on a year-over-year basis. As a group, research analysts predict that Ross Stores will post 6.2 EPS for the current fiscal year.

Ross Stores Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Tuesday, September 10th were paid a $0.3675 dividend. The ex-dividend date of this dividend was Tuesday, September 10th. This represents a $1.47 dividend on an annualized basis and a yield of 1.05%. Ross Stores’s dividend payout ratio (DPR) is presently 23.71%.

Insider Transactions at Ross Stores

In related news, Chairman Michael Balmuth sold 14,887 shares of Ross Stores stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $152.22, for a total value of $2,266,099.14. Following the completion of the sale, the chairman now owns 11,133 shares of the company’s stock, valued at approximately $1,694,665.26. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Ross Stores news, CEO Barbara Rentler sold 48,885 shares of the firm’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $153.93, for a total transaction of $7,524,868.05. Following the transaction, the chief executive officer now directly owns 311,853 shares in the company, valued at approximately $48,003,532.29. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Michael Balmuth sold 14,887 shares of Ross Stores stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $152.22, for a total transaction of $2,266,099.14. Following the transaction, the chairman now directly owns 11,133 shares in the company, valued at $1,694,665.26. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 72,138 shares of company stock valued at $11,093,051 over the last ninety days. 2.10% of the stock is owned by company insiders.

Institutional Investors Weigh In On Ross Stores

Institutional investors have recently added to or reduced their stakes in the company. Kerusso Capital Management LLC boosted its stake in shares of Ross Stores by 6.5% in the 3rd quarter. Kerusso Capital Management LLC now owns 14,526 shares of the apparel retailer’s stock worth $2,186,000 after buying an additional 881 shares during the last quarter. Bridges Investment Management Inc. lifted its holdings in Ross Stores by 7.5% during the third quarter. Bridges Investment Management Inc. now owns 2,641 shares of the apparel retailer’s stock worth $397,000 after acquiring an additional 185 shares during the period. Capital Performance Advisors LLP purchased a new position in Ross Stores in the third quarter worth $156,000. Summit Global Investments grew its stake in Ross Stores by 62.8% in the 3rd quarter. Summit Global Investments now owns 17,202 shares of the apparel retailer’s stock valued at $2,589,000 after purchasing an additional 6,633 shares during the period. Finally, Portside Wealth Group LLC increased its position in shares of Ross Stores by 10.2% during the 3rd quarter. Portside Wealth Group LLC now owns 2,324 shares of the apparel retailer’s stock valued at $350,000 after purchasing an additional 216 shares during the last quarter. 86.86% of the stock is owned by institutional investors.

Ross Stores Company Profile

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.