Several other equities research analysts have also issued reports on ROST. Zacks Investment Research raised Ross Stores from a hold rating to a buy rating and set a $103.00 target price for the company in a research report on Wednesday, January 23rd. Loop Capital raised their target price on Ross Stores to $105.00 and gave the company a buy rating in a research report on Thursday, January 24th. Guggenheim reaffirmed a buy rating and set a $105.00 target price on shares of Ross Stores in a research report on Tuesday, March 5th. Credit Suisse Group lifted their price objective on Ross Stores from $95.00 to $100.00 and gave the stock an outperform rating in a report on Wednesday, March 6th. Finally, Wells Fargo & Co lifted their price objective on Ross Stores from $92.00 to $104.00 and gave the stock an outperform rating in a report on Wednesday, March 6th. Ten investment analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company’s stock. Ross Stores currently has an average rating of Buy and a consensus target price of $97.84.
Shares of Ross Stores stock opened at $94.53 on Wednesday. Ross Stores has a 1 year low of $75.91 and a 1 year high of $104.35. The firm has a market cap of $35.79 billion, a PE ratio of 22.19, a price-to-earnings-growth ratio of 2.08 and a beta of 0.89. The company has a quick ratio of 0.82, a current ratio of 1.69 and a debt-to-equity ratio of 0.09.
Ross Stores (NASDAQ:ROST) last announced its earnings results on Tuesday, March 5th. The apparel retailer reported $1.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.13 by $0.07. Ross Stores had a return on equity of 49.58% and a net margin of 10.60%. The firm had revenue of $4.11 billion during the quarter, compared to analyst estimates of $4.05 billion. Equities analysts expect that Ross Stores will post 4.5 earnings per share for the current fiscal year.
Ross Stores declared that its board has authorized a share buyback plan on Tuesday, March 5th that authorizes the company to buyback $2.55 billion in shares. This buyback authorization authorizes the apparel retailer to buy up to 7.3% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s leadership believes its shares are undervalued.
In other news, EVP Michael J. Hartshorn sold 9,924 shares of Ross Stores stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $91.48, for a total transaction of $907,847.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Bernard G. Brautigan sold 12,000 shares of Ross Stores stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $91.18, for a total value of $1,094,160.00. Following the sale, the insider now owns 174,450 shares of the company’s stock, valued at approximately $15,906,351. The disclosure for this sale can be found here. In the last quarter, insiders have sold 137,054 shares of company stock valued at $12,504,328. Corporate insiders own 2.30% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the company. First Manhattan Co. bought a new stake in shares of Ross Stores during the 1st quarter valued at about $27,000. Bollard Group LLC bought a new stake in shares of Ross Stores during the 4th quarter valued at about $25,000. CI Investments Inc. bought a new stake in shares of Ross Stores during the 4th quarter valued at about $26,000. Athena Capital Advisors LLC bought a new stake in shares of Ross Stores during the 4th quarter valued at about $29,000. Finally, Berman Capital Advisors LLC bought a new stake in shares of Ross Stores during the 4th quarter valued at about $32,000. Hedge funds and other institutional investors own 88.31% of the company’s stock.
About Ross Stores
Ross Stores, Inc, together with its subsidiaries, operates off-price retail apparel and home fashion stores under the Ross Dress for Less and dd's DISCOUNTS brands. Its stores primarily offers apparel, accessories, footwear, and home fashions. The company's Ross Dress for Less stores sell its products at department and specialty stores primarily to middle income households; and dd's DISCOUNTS stores sell its products at department and discount stores regular prices to customers from households with moderate income.
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