Ross Stores Inc. (ROST) Given a $68.00 Price Target by RBC Capital Markets Analysts
RBC Capital Markets set a $68.00 price objective on Ross Stores Inc. (NASDAQ:ROST) in a research report released on Friday morning. The brokerage currently has a hold rating on the apparel retailer’s stock.
Several other analysts have also commented on the company. Vetr lowered Ross Stores from a buy rating to a hold rating and set a $65.00 target price on the stock. in a report on Monday, August 15th. Jefferies Group reissued a hold rating and issued a $57.00 price objective (up from $51.00) on shares of Ross Stores in a report on Friday, August 19th. Buckingham Research raised Ross Stores from a neutral rating to a buy rating in a report on Thursday, August 25th. Bank of America Corp. set a $70.00 price objective on Ross Stores and gave the company a buy rating in a report on Monday, September 12th. Finally, Zacks Investment Research lowered Ross Stores from a buy rating to a hold rating in a report on Tuesday, September 27th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and fifteen have given a buy rating to the company’s stock. The stock currently has a consensus rating of Buy and a consensus target price of $66.52.
Shares of Ross Stores (NASDAQ:ROST) remained flat at $68.00 during mid-day trading on Friday. The company had a trading volume of 1,211,412 shares. Ross Stores has a 52-week low of $49.06 and a 52-week high of $68.84. The stock’s 50 day moving average price is $63.60 and its 200 day moving average price is $59.95. The company has a market capitalization of $26.97 billion, a PE ratio of 25.89 and a beta of 0.94.
Ross Stores (NASDAQ:ROST) last posted its earnings results on Thursday, November 17th. The apparel retailer reported $0.62 EPS for the quarter, topping the consensus estimate of $0.56 by $0.06. The firm had revenue of $3.10 billion for the quarter. Ross Stores had a return on equity of 42.09% and a net margin of 8.58%. The firm’s revenue was up 10.9% on a year-over-year basis. During the same period last year, the business earned $0.53 earnings per share. On average, equities analysts expect that Ross Stores will post $2.76 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 30th. Stockholders of record on Wednesday, December 7th will be issued a $0.135 dividend. This represents a $0.54 annualized dividend and a dividend yield of 0.79%. The ex-dividend date is Monday, December 5th. Ross Stores’s payout ratio is currently 19.85%.
In other Ross Stores news, insider James S. Fassio sold 12,000 shares of the company’s stock in a transaction that occurred on Thursday, September 22nd. The stock was sold at an average price of $63.35, for a total transaction of $760,200.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Gregory L. Quesnel sold 16,000 shares of the company’s stock in a transaction that occurred on Monday, October 3rd. The shares were sold at an average price of $64.39, for a total value of $1,030,240.00. Following the sale, the director now directly owns 19,370 shares of the company’s stock, valued at $1,247,234.30. The disclosure for this sale can be found here. 2.40% of the stock is owned by insiders.
A number of hedge funds have recently bought and sold shares of ROST. Exxonmobil Investment Management Inc. TX increased its stake in Ross Stores by 5.5% in the second quarter. Exxonmobil Investment Management Inc. TX now owns 104,007 shares of the apparel retailer’s stock valued at $5,896,000 after buying an additional 5,398 shares in the last quarter. DNB Asset Management AS increased its stake in Ross Stores by 2.0% in the second quarter. DNB Asset Management AS now owns 30,580 shares of the apparel retailer’s stock valued at $1,734,000 after buying an additional 600 shares in the last quarter. Alecta Pensionsforsakring Omsesidigt increased its stake in Ross Stores by 4.7% in the second quarter. Alecta Pensionsforsakring Omsesidigt now owns 5,000,000 shares of the apparel retailer’s stock valued at $283,400,000 after buying an additional 225,000 shares in the last quarter. Origin Asset Management LLP bought a new stake in Ross Stores during the first quarter valued at approximately $17,090,000. Finally, BlueMountain Capital Management LLC increased its stake in Ross Stores by 636.9% in the first quarter. BlueMountain Capital Management LLC now owns 15,695 shares of the apparel retailer’s stock valued at $909,000 after buying an additional 13,565 shares in the last quarter. 88.94% of the stock is owned by hedge funds and other institutional investors.
Ross Stores Company Profile
Ross Stores, Inc is an off-price retailer of name brand and designer apparel, accessories, footwear, and home fashions for the entire family. The Company operates two brands of off-price retail apparel and home fashion stores, Ross Dress for Less (Ross) and dd’s DISCOUNTS. As of December 31, 2014, the Company operated 1,210 Ross locations in 33 states, the District of Columbia and Guam, and 152 dd’s DISCOUNTS stores in 15 states.
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