Ross Stores Inc. (ROST) Given Hold Rating at Credit Suisse Group AG
Credit Suisse Group AG reiterated their hold rating on shares of Ross Stores Inc. (NASDAQ:ROST) in a research report report published on Friday. Credit Suisse Group AG currently has a $60.00 price objective on the apparel retailer’s stock.
“We raise FY16 EPS estimate to $2.82 from $2.76, and raise FY17E EPS estimate to $3.10 from $3.03.”,” Credit Suisse Group AG’s analyst commented.
A number of other brokerages also recently issued reports on ROST. Royal Bank Of Canada boosted their price objective on Ross Stores from $56.00 to $65.00 and gave the company a sector perform rating in a research note on Friday, August 19th. JPMorgan Chase & Co. boosted their price objective on Ross Stores from $51.00 to $66.00 and gave the company a neutral rating in a research note on Friday, August 19th. Wedbush boosted their price objective on Ross Stores from $65.00 to $67.00 and gave the company an outperform rating in a research note on Friday, August 19th. Telsey Advisory Group boosted their price objective on Ross Stores from $68.00 to $70.00 and gave the company a market perform rating in a research note on Friday. Finally, Stifel Nicolaus reiterated a hold rating on shares of Ross Stores in a research note on Friday, August 19th. One analyst has rated the stock with a sell rating, twelve have given a hold rating and fifteen have assigned a buy rating to the company’s stock. Ross Stores currently has an average rating of Buy and a consensus price target of $66.52.
Shares of Ross Stores (NASDAQ:ROST) remained flat at $68.00 during midday trading on Friday. 1,211,412 shares of the company were exchanged. Ross Stores has a 52 week low of $49.06 and a 52 week high of $68.84. The firm has a market cap of $26.97 billion, a PE ratio of 25.89 and a beta of 0.94. The company has a 50-day moving average price of $63.60 and a 200 day moving average price of $59.95.
Ross Stores (NASDAQ:ROST) last released its quarterly earnings results on Thursday, November 17th. The apparel retailer reported $0.62 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.56 by $0.06. The business earned $3.10 billion during the quarter. Ross Stores had a return on equity of 42.09% and a net margin of 8.58%. The company’s revenue for the quarter was up 10.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.53 earnings per share. On average, equities research analysts anticipate that Ross Stores will post $2.76 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 30th. Investors of record on Wednesday, December 7th will be paid a dividend of $0.135 per share. This represents a $0.54 dividend on an annualized basis and a dividend yield of 0.79%. The ex-dividend date of this dividend is Monday, December 5th. Ross Stores’s dividend payout ratio (DPR) is currently 19.85%.
In related news, CEO Barbara Rentler sold 20,000 shares of the company’s stock in a transaction on Monday, September 19th. The stock was sold at an average price of $62.54, for a total transaction of $1,250,800.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider James S. Fassio sold 12,000 shares of the company’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. Corporate insiders own 2.40% of the company’s stock.
Large investors have recently modified their holdings of the company. Exxonmobil Investment Management Inc. TX boosted 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 worth $5,896,000 after buying an additional 5,398 shares during the period. DNB Asset Management AS boosted 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 worth $1,734,000 after buying an additional 600 shares during the period. Alecta Pensionsforsakring Omsesidigt boosted 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 worth $283,400,000 after buying an additional 225,000 shares during the period. Origin Asset Management LLP acquired a new stake in Ross Stores during the first quarter worth approximately $17,090,000. Finally, BlueMountain Capital Management LLC boosted 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 worth $909,000 after buying an additional 13,565 shares during the period. Hedge funds and other institutional investors own 88.94% of the company’s stock.
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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