Ross Stores, Inc. (ROST) Given New $71.00 Price Target at BMO Capital Markets
Ross Stores, Inc. (NASDAQ:ROST) had its target price boosted by BMO Capital Markets from $65.00 to $71.00 in a research report report published on Friday morning. BMO Capital Markets currently has a market perform rating on the apparel retailer’s stock.
Other equities research analysts have also recently issued reports about the company. Royal Bank Of Canada restated a hold rating and set a $62.00 target price on shares of Ross Stores in a research report on Monday, September 18th. Telsey Advisory Group restated a buy rating on shares of Ross Stores in a research report on Friday. SunTrust Banks, Inc. set a $80.00 target price on Ross Stores and gave the company a buy rating in a research report on Friday. Morgan Stanley raised their target price on Ross Stores from $70.00 to $77.00 and gave the company an overweight rating in a research report on Friday. Finally, Nomura raised their target price on Ross Stores from $74.00 to $80.00 and gave the company a buy rating in a research report on Friday. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and fifteen have issued a buy rating to the company’s stock. The company has an average rating of Buy and a consensus price target of $72.48.
Ross Stores (NASDAQ:ROST) traded up $6.56 during trading hours on Friday, hitting $72.25. The stock had a trading volume of 2,543,042 shares, compared to its average volume of 2,958,363. Ross Stores has a 52-week low of $52.85 and a 52-week high of $73.94. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.64 and a quick ratio of 0.76. The firm has a market cap of $25,330.00, a PE ratio of 21.28, a PEG ratio of 2.00 and a beta of 1.09.
Ross Stores (NASDAQ:ROST) last posted its earnings results on Thursday, November 16th. The apparel retailer reported $0.72 EPS for the quarter, beating the Zacks’ consensus estimate of $0.67 by $0.05. Ross Stores had a return on equity of 42.95% and a net margin of 8.87%. The firm had revenue of $3.33 billion for the quarter, compared to analysts’ expectations of $3.26 billion. During the same period last year, the firm earned $0.62 EPS. The company’s quarterly revenue was up 7.8% on a year-over-year basis. equities research analysts expect that Ross Stores will post 3.22 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 1st will be issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 0.89%. The ex-dividend date of this dividend is Thursday, November 30th. Ross Stores’s dividend payout ratio is currently 21.12%.
In other news, insider Brian R. Morrow sold 6,157 shares of Ross Stores stock in a transaction that occurred on Wednesday, October 4th. The shares were sold at an average price of $65.30, for a total transaction of $402,052.10. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, 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 disclosure for this sale can be found here. Insiders own 2.30% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in the company. Archford Capital Strategies LLC raised its position in shares of Ross Stores by 40.9% during the 3rd quarter. Archford Capital Strategies LLC now owns 8,284 shares of the apparel retailer’s stock valued at $535,000 after buying an additional 2,406 shares during the period. Algert Global LLC purchased a new stake in shares of Ross Stores during the 3rd quarter valued at approximately $2,497,000. Hahn Capital Management LLC raised its position in shares of Ross Stores by 1.0% during the 3rd quarter. Hahn Capital Management LLC now owns 579,082 shares of the apparel retailer’s stock valued at $37,391,000 after buying an additional 5,506 shares during the period. Gyroscope Capital Management Group LLC purchased a new stake in shares of Ross Stores during the 3rd quarter valued at approximately $356,000. Finally, Colony Group LLC raised its position in shares of Ross Stores by 1.0% during the 3rd quarter. Colony Group LLC now owns 274,217 shares of the apparel retailer’s stock valued at $17,706,000 after buying an additional 2,648 shares during the period. 90.51% of the stock is currently owned by hedge funds and other institutional investors.
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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