Trading Report: The Ross Stores Inc. (ROST) Receives Consensus Rating of “Hold” from Brokerages

The Ross Stores Inc. (ROST) Receives Consensus Rating of “Hold” from Brokerages

Shares of Ross Stores Inc. (NASDAQ:ROST) have earned an average rating of “Hold” from the twenty-seven brokerages that are currently covering the stock. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and fourteen have issued a buy rating on the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $65.29.

ROST has been the subject of a number of recent research reports. Nomura set a $70.00 target price on Ross Stores and gave the company a “buy” rating in a research note on Friday, August 19th. Citigroup Inc. boosted their target price on Ross Stores from $65.00 to $72.00 and gave the company a “buy” rating in a research note on Friday, August 19th. Vetr raised Ross Stores from a “hold” rating to a “buy” rating and set a $65.00 target price for the company in a research note on Monday, August 1st. Zacks Investment Research raised Ross Stores from a “hold” rating to a “buy” rating and set a $66.00 target price for the company in a research note on Wednesday, July 20th. Finally, SunTrust Banks Inc. boosted their target price on Ross Stores from $67.00 to $75.00 and gave the company a “buy” rating in a research note on Friday, August 19th.

In related news, Director Gregory L. Quesnel sold 16,000 shares of the firm’s stock in a transaction on Monday, October 3rd. The stock was sold at an average price of $64.39, for a total value of $1,030,240.00. Following the transaction, the director now directly owns 19,370 shares of the company’s stock, valued at approximately $1,247,234.30. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider James S. Fassio sold 12,000 shares of the firm’s stock in a transaction on Thursday, September 22nd. The stock was sold at an average price of $63.35, for a total value of $760,200.00. The disclosure for this sale can be found here. Insiders own 2.40% of the company’s stock.

A number of institutional investors have recently made changes to their positions in the company. Evercore Wealth Management LLC boosted its position in shares of Ross Stores by 29.1% in the second quarter. Evercore Wealth Management LLC now owns 1,929 shares of the apparel retailer’s stock worth $109,000 after buying an additional 435 shares in the last quarter. NN Investment Partners Holdings N.V. bought a new position in shares of Ross Stores during the first quarter worth approximately $140,000. Carroll Financial Associates Inc. boosted its position in shares of Ross Stores by 0.7% in the second quarter. Carroll Financial Associates Inc. now owns 2,605 shares of the apparel retailer’s stock worth $147,000 after buying an additional 17 shares in the last quarter. Independent Portfolio Consultants Inc. bought a new position in shares of Ross Stores during the second quarter worth approximately $151,000. Finally, Citizens Financial Group Inc RI boosted its position in shares of Ross Stores by 51.6% in the first quarter. Citizens Financial Group Inc RI now owns 2,737 shares of the apparel retailer’s stock worth $159,000 after buying an additional 931 shares in the last quarter. 90.20% of the stock is currently owned by institutional investors.

Shares of Ross Stores (NASDAQ:ROST) opened at 62.28 on Tuesday. Ross Stores has a 52 week low of $43.47 and a 52 week high of $66.28. The firm has a market cap of $24.70 billion, a PE ratio of 23.71 and a beta of 0.94. The firm has a 50-day moving average price of $63.38 and a 200-day moving average price of $59.31.

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 analysts’ consensus estimates of $0.67 by $0.04. Ross Stores had a return on equity of 42.01% and a net margin of 8.55%. The company earned $3.18 billion during the quarter, compared to analyst estimates of $3.13 billion. During the same quarter in the previous year, the company posted $0.63 EPS. Ross Stores’s revenue for the quarter was up 7.2% on a year-over-year basis. On average, equities research analysts predict that Ross Stores will post $2.75 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Friday, September 30th. Stockholders of record on Friday, September 2nd were issued a dividend of $0.135 per share. The ex-dividend date of this dividend was Wednesday, August 31st. This represents a $0.54 annualized dividend and a dividend yield of 0.87%. Ross Stores’s payout ratio is 20.53%.

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