Investors Buy Ross Stores Inc. (ROST) on Weakness
Investors purchased shares of Ross Stores Inc. (NASDAQ:ROST) on weakness during trading on Tuesday. $24.06 million flowed into the stock on the tick-up and $19.59 million flowed out of the stock on the tick-down, for a money net flow of $4.47 million into the stock. Of all equities tracked, Ross Stores had the 48th highest net in-flow for the day. Ross Stores traded down ($0.15) for the day and closed at $63.11
Several equities research analysts have recently issued reports on ROST shares. Piper Jaffray Cos. cut shares of Ross Stores from a “neutral” rating to an “underweight” rating and reduced their price objective for the company from $56.00 to $55.00 in a research report on Wednesday, May 11th. Wedbush boosted their price target on shares of Ross Stores from $65.00 to $67.00 and gave the stock an “outperform” rating in a research report on Friday, August 19th. Citigroup Inc. boosted their price target on shares of Ross Stores from $65.00 to $72.00 and gave the stock a “buy” rating in a research report on Friday, August 19th. Zacks Investment Research upgraded shares of Ross Stores from a “sell” rating to a “hold” rating in a research report on Tuesday, May 10th. Finally, Royal Bank Of Canada boosted their price target on shares of Ross Stores from $56.00 to $65.00 and gave the stock a “sector perform” rating in a research report on Friday, August 19th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and fifteen have given a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $64.87.
The company’s 50 day moving average is $61.44 and its 200-day moving average is $57.50. The stock has a market capitalization of $24.52 billion and a price-to-earnings ratio of 23.72.
Ross Stores (NASDAQ:ROST) last released its earnings results on Thursday, August 18th. The apparel retailer reported $0.71 earnings per share for the quarter, beating the consensus estimate of $0.67 by $0.04. The firm earned $3.18 billion during the quarter, compared to analyst estimates of $3.13 billion. The business’s revenue was up 7.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.63 earnings per share. On average, equities research analysts predict that Ross Stores Inc. will post $2.75 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 30th. Stockholders of record on Friday, September 2nd will be paid a $0.135 dividend. This represents a $0.54 annualized dividend and a dividend yield of 0.87%. The ex-dividend date of this dividend is Wednesday, August 31st.
In other news, Director George Orban sold 56,000 shares of Ross Stores stock in a transaction dated Friday, July 8th. The stock was sold at an average price of $57.52, for a total value of $3,221,120.00. Following the completion of the transaction, the director now owns 506,750 shares in the company, valued at approximately $29,148,260. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.
An institutional investor recently raised its position in Ross Stores stock. KBC Group NV increased its stake in shares of Ross Stores Inc. (NASDAQ:ROST) by 7.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 45,181 shares of the apparel retailer’s stock after buying an additional 3,232 shares during the period. KBC Group NV’s holdings in Ross Stores were worth $2,431,000 at the end of the most recent quarter.
Ross Stores, Inc is an off-price retailer of name brand and designer apparel, accessories, footwear, and home fashions for the entire family. The Company operates two brands of off-price retail apparel and home fashion stores, Ross Dress for Less (Ross) and dd’s DISCOUNTS. As of December 31, 2014, the Company operated 1,210 Ross locations in 33 states, the District of Columbia and Guam, and 152 dd’s DISCOUNTS stores in 15 states.
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