Ross Stores Inc. (ROST) PT Raised to $70.00 at Telsey Advisory Group
Ross Stores Inc. (NASDAQ:ROST) had its price target raised by Telsey Advisory Group from $68.00 to $70.00 in a report issued on Friday. The brokerage currently has a “market perform” rating on the apparel retailer’s stock. Telsey Advisory Group’s price objective would suggest a potential upside of 3.05% from the company’s current price.
ROST has been the subject of a number of other reports. Goldman Sachs Group Inc. reaffirmed a “neutral” rating and set a $64.00 target price on shares of Ross Stores in a report on Monday, August 1st. Buckingham Research raised shares of Ross Stores from a “neutral” rating to a “buy” rating in a research note on Thursday, August 25th. SunTrust Banks Inc. increased their price objective on shares of Ross Stores from $67.00 to $75.00 and gave the stock a “buy” rating in a research note on Friday, August 19th. Citigroup Inc. increased their price objective on shares of Ross Stores from $65.00 to $72.00 and gave the stock a “buy” rating in a research note on Friday, August 19th. Finally, Stifel Nicolaus reissued a “hold” rating on shares of Ross Stores in a research note on Friday, August 19th. One research 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. The company has a consensus rating of “Buy” and a consensus price target of $66.52.
Shares of Ross Stores (NASDAQ:ROST) opened at 67.93 on Friday. The company has a market capitalization of $26.94 billion, a P/E ratio of 25.86 and a beta of 0.94. The firm has a 50-day moving average of $63.70 and a 200 day moving average of $60.07. Ross Stores has a 1-year low of $49.06 and a 1-year high of $68.84.
Ross Stores (NASDAQ:ROST) last announced its earnings results on Thursday, November 17th. The apparel retailer reported $0.62 EPS for the quarter, beating the Zacks’ consensus estimate of $0.56 by $0.06. Ross Stores had a net margin of 8.58% and a return on equity of 42.09%. The business earned $3.10 billion during the quarter. During the same period in the prior year, the company posted $0.53 earnings per share. The firm’s quarterly revenue was up 10.9% on a year-over-year basis. On average, analysts anticipate that Ross Stores will post $2.76 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 30th. Shareholders of record on Wednesday, December 7th will be given a dividend of $0.135 per share. This represents a $0.54 dividend on an annualized basis and a yield of 0.79%. The ex-dividend date of this dividend is Monday, December 5th. Ross Stores’s dividend payout ratio (DPR) is 19.85%.
In other news, insider James S. Fassio sold 12,000 shares of Ross Stores stock in a transaction that occurred on Thursday, September 22nd. The shares were sold at an average price of $63.35, for a total value of $760,200.00. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Barbara Rentler sold 12,840 shares of Ross Stores stock in a transaction that occurred on Thursday, September 22nd. The stock was sold at an average price of $63.76, for a total transaction of $818,678.40. Following the completion of the transaction, the chief executive officer now directly owns 542,851 shares in the company, valued at approximately $34,612,179.76. The disclosure for this sale can be found here. 2.40% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently modified their holdings of the company. D.A. Davidson & CO. increased its position in shares of Ross Stores by 69.7% in the third quarter. D.A. Davidson & CO. now owns 66,371 shares of the apparel retailer’s stock worth $4,263,000 after buying an additional 27,269 shares during the last quarter. Piedmont Investment Advisors LLC purchased a new position in shares of Ross Stores during the third quarter worth about $5,842,000. Price T Rowe Associates Inc. MD increased its position in shares of Ross Stores by 19.4% in the third quarter. Price T Rowe Associates Inc. MD now owns 22,761,511 shares of the apparel retailer’s stock worth $1,463,565,000 after buying an additional 3,702,651 shares during the last quarter. Cornerstone Capital Management Holdings LLC. increased its position in shares of Ross Stores by 79.5% in the third quarter. Cornerstone Capital Management Holdings LLC. now owns 247,638 shares of the apparel retailer’s stock worth $15,921,000 after buying an additional 109,693 shares during the last quarter. Finally, Credit Suisse AG increased its position in shares of Ross Stores by 9.0% in the third quarter. Credit Suisse AG now owns 997,111 shares of the apparel retailer’s stock worth $64,115,000 after buying an additional 82,447 shares during the last quarter. 88.94% of the stock is currently 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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