Ross Stores (NASDAQ:ROST) Upgraded at Zacks Research

Zacks Research upgraded shares of Ross Stores (NASDAQ:ROST) from a hold rating to a strong-buy rating in a research report sent to investors on Tuesday,Zacks reports.

A number of other equities research analysts also recently issued reports on ROST. Wells Fargo & Company upped their price objective on shares of Ross Stores from $245.00 to $248.00 and gave the stock an “equal weight” rating in a research report on Friday, August 21st. Evercore set a $290.00 target price on shares of Ross Stores in a research report on Friday, August 21st. Telsey Advisory Group boosted their target price on Ross Stores from $265.00 to $280.00 and gave the stock an “outperform” rating in a research note on Friday, August 14th. Wall Street Zen downgraded Ross Stores from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 20th. Finally, Sanford C. Bernstein upped their target price on Ross Stores from $230.00 to $240.00 and gave the company a “market perform” rating in a report on Friday, August 21st. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Ross Stores currently has a consensus rating of “Moderate Buy” and a consensus target price of $263.76.

Ross Stores Trading Down 0.1%

NASDAQ ROST opened at $225.20 on Tuesday. The company has a current ratio of 1.61, a quick ratio of 0.98 and a debt-to-equity ratio of 0.12. The business has a fifty day simple moving average of $235.65 and a 200 day simple moving average of $228.87. Ross Stores has a 12 month low of $147.49 and a 12 month high of $257.00. The firm has a market capitalization of $71.94 billion, a P/E ratio of 27.26, a PEG ratio of 1.89 and a beta of 0.83.

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

Ross Stores Announces Dividend

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

Insider Transactions at Ross Stores

In other Ross Stores news, insider Stephen Brinkley sold 6,424 shares of Ross Stores stock in a transaction dated Monday, September 14th. The shares were sold at an average price of $229.66, for a total value of $1,475,335.84. Following the sale, the insider owned 51,665 shares of the company’s stock, valued at approximately $11,865,383.90. The trade was a 11.06% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO James Conroy sold 49,205 shares of Ross Stores stock in a transaction that occurred on Monday, September 14th. The stock was sold at an average price of $229.48, for a total transaction of $11,291,563.40. Following the completion of the sale, the chief executive officer directly owned 134,349 shares in the company, valued at $30,830,408.52. This trade represents a 26.81% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 2.10% of the company’s stock.

Institutional Trading of Ross Stores

Several hedge funds have recently made changes to their positions in the company. Hilton Head Capital Partners LLC bought a new position in shares of Ross Stores during the 4th quarter worth $26,000. Bard Associates Inc. bought a new stake in Ross Stores in the 4th quarter valued at about $31,000. Virtus Advisers LLC purchased a new stake in Ross Stores during the second quarter valued at about $38,000. Twin Lakes Capital Management LLC purchased a new stake in Ross Stores during the second quarter valued at about $41,000. Finally, Bell Investment Advisors Inc bought a new position in Ross Stores during the second quarter worth about $43,000. 86.86% of the stock is currently owned by institutional investors.

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.