Ross Stores, Inc. (ROST) Earns Hold Rating from Royal Bank Of Canada
Royal Bank Of Canada reaffirmed their hold rating on shares of Ross Stores, Inc. (NASDAQ:ROST) in a report published on Monday morning. The firm currently has a $62.00 price objective on the apparel retailer’s stock.
A number of other research analysts have also commented on the stock. BidaskClub lowered shares of Ross Stores from a sell rating to a strong sell rating in a research note on Saturday, June 17th. Zacks Investment Research upgraded shares of Ross Stores from a hold rating to a buy rating and set a $61.00 price objective on the stock in a research note on Wednesday, July 12th. Morgan Stanley reiterated an overweight rating and set a $69.00 price objective on shares of Ross Stores in a research note on Monday, May 22nd. BMO Capital Markets set a $65.00 price objective on shares of Ross Stores and gave the company a hold rating in a research note on Thursday, July 6th. Finally, Telsey Advisory Group upgraded shares of Ross Stores from a market perform rating to an outperform rating and set a $70.00 price objective on the stock in a research note on Friday, July 14th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and fourteen have given a buy rating to the stock. The company presently has an average rating of Buy and a consensus price target of $69.68.
Shares of Ross Stores (NASDAQ ROST) opened at 60.91 on Monday. The company has a 50 day moving average price of $57.77 and a 200-day moving average price of $60.76. Ross Stores has a 12-month low of $52.85 and a 12-month high of $69.81. The firm has a market cap of $23.49 billion, a PE ratio of 20.12 and a beta of 1.09.
Ross Stores (NASDAQ:ROST) last posted its quarterly earnings data on Thursday, August 17th. The apparel retailer reported $0.82 EPS for the quarter, beating the Zacks’ consensus estimate of $0.77 by $0.05. Ross Stores had a net margin of 8.87% and a return on equity of 42.95%. The business had revenue of $3.43 billion for the quarter, compared to analyst estimates of $3.37 billion. During the same quarter last year, the business earned $0.71 earnings per share. The business’s revenue for the quarter was up 7.9% on a year-over-year basis. Analysts expect that Ross Stores will post $3.23 EPS for the current year.
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The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Thursday, September 7th will be given a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 1.05%. The ex-dividend date of this dividend is Wednesday, September 6th. Ross Stores’s payout ratio is 21.12%.
In other Ross Stores news, CEO Barbara Rentler sold 15,492 shares of Ross Stores stock in a transaction that occurred on Tuesday, September 12th. The shares were sold at an average price of $61.00, for a total transaction of $945,012.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 2.30% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Intl Fcstone Inc. purchased a new position in Ross Stores during the 2nd quarter worth approximately $1,225,000. Gs Investments Inc. purchased a new position in Ross Stores during the 2nd quarter worth approximately $1,819,000. Toronto Dominion Bank grew its position in Ross Stores by 24.1% during the 2nd quarter. Toronto Dominion Bank now owns 135,821 shares of the apparel retailer’s stock worth $7,840,000 after purchasing an additional 26,412 shares in the last quarter. Archford Capital Strategies LLC grew its position in Ross Stores by 220.4% during the 2nd quarter. Archford Capital Strategies LLC now owns 26,580 shares of the apparel retailer’s stock worth $222,000 after purchasing an additional 18,285 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd grew its position in Ross Stores by 229.1% during the 2nd quarter. Dynamic Technology Lab Private Ltd now owns 24,053 shares of the apparel retailer’s stock worth $1,389,000 after purchasing an additional 16,744 shares in the last quarter. Hedge funds and other institutional investors own 90.40% of the company’s stock.
Ross Stores Company Profile
Ross Stores, Inc and its subsidiaries operate two brands of off-price retail apparel and home fashion stores-Ross Dress for Less (Ross) and dd’s DISCOUNTS. The Company is the off-price apparel and home fashion chain in the United States, with 1,340 locations in 36 states, the District of Columbia and Guam, as of January 28, 2017.
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