Ross Stores, Inc. (NASDAQ:ROST) Stock Has Consensus Price Target of $263.76 According to Brokerages

Ross Stores, Inc. (NASDAQ:ROST) has earned a consensus rating of “Moderate Buy” from the twenty ratings firms that are covering the stock, Marketbeat.com reports. Four analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating on the company. The average 12 month price objective among analysts that have covered the stock in the last year is $263.76.

Several analysts recently issued reports on the company. JPMorgan Chase & Co. increased their price target on Ross Stores from $262.00 to $272.00 and gave the company an “overweight” rating in a report on Friday, August 21st. Telsey Advisory Group raised their price objective on Ross Stores from $265.00 to $280.00 and gave the company an “outperform” rating in a research report on Friday, August 14th. Wells Fargo & Company boosted their price objective on Ross Stores from $245.00 to $248.00 and gave the stock an “equal weight” rating in a research note on Friday, August 21st. Citigroup boosted their price objective on Ross Stores from $270.00 to $290.00 and gave the stock a “buy” rating in a research note on Friday, August 21st. Finally, Evercore set a $290.00 target price on Ross Stores in a research report on Friday, August 21st.

Ross Stores Price Performance

ROST opened at $234.83 on Tuesday. The company has a quick ratio of 0.98, a current ratio of 1.61 and a debt-to-equity ratio of 0.12. Ross Stores has a 52-week low of $154.69 and a 52-week high of $257.00. The company has a 50 day moving average of $233.19 and a two-hundred day moving average of $229.36. The company has a market cap of $75.02 billion, a P/E ratio of 28.43, a P/E/G ratio of 1.94 and a beta of 0.83.

Ross Stores (NASDAQ:ROST) last released its quarterly earnings data on Thursday, August 20th. The apparel retailer reported $2.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.95 by $0.71. Ross Stores had a net margin of 10.85% and a return on equity of 39.29%. The company had revenue of $6.26 billion during the quarter, compared to analyst estimates of $6.16 billion. During the same quarter in the prior year, the business earned $1.56 earnings per share. The business’s quarterly revenue was up 13.3% compared to the same quarter last year. On average, analysts expect that Ross Stores will post 8.15 earnings per share for the current year.

Ross Stores Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Tuesday, September 8th were issued a dividend of $0.4450 per share. This represents a $1.78 annualized dividend and a dividend yield of 0.8%. The ex-dividend date was Tuesday, September 8th. Ross Stores’s dividend payout ratio (DPR) is presently 21.55%.

Insider Activity at Ross Stores

In other Ross Stores news, CEO James Conroy sold 49,205 shares of the company’s stock in a transaction that occurred on Monday, September 14th. The stock was sold at an average price of $229.48, for a total value of $11,291,563.40. Following the completion of the transaction, the chief executive officer owned 134,349 shares in the company, valued at $30,830,408.52. This represents a 26.81% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Stephen C. Brinkley sold 6,424 shares of the stock in a transaction that occurred on Monday, September 14th. The shares were sold at an average price of $229.66, for a total transaction of $1,475,335.84. Following the completion of the sale, the insider directly owned 51,665 shares of the company’s stock, valued at $11,865,383.90. This trade represents a 11.06% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 2.10% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Bard Associates Inc. acquired a new stake in Ross Stores during the 4th quarter valued at $31,000. Virtus Advisers LLC acquired a new position in Ross Stores in the 2nd quarter worth $38,000. Twin Lakes Capital Management LLC acquired a new position in Ross Stores in the 2nd quarter worth $41,000. Bell Investment Advisors Inc acquired a new position in Ross Stores in the 2nd quarter worth $43,000. Finally, BOK Financial Private Wealth Inc. purchased a new position in Ross Stores in the 2nd quarter valued at about $44,000. 86.86% of the stock is owned by institutional investors and hedge funds.

Ross Stores Company Profile

Ross Stores, Inc is an American off-price apparel and home fashion retailer headquartered in Dublin, California. The company operates primarily through its Ross Dress for Less stores, offering customers discounted prices on clothing, footwear, accessories, and home furnishings from a range of national and private-label brands.

Ross Stores also operates dd’s DISCOUNTS, a chain focused on value-oriented merchandise for families and communities seeking lower-priced apparel, footwear, accessories, and home products.