Ross Stores Inc. (NASDAQ:ROST) was upgraded by Zacks Investment Research from a “sell” rating to a “buy” rating in a research note issued on Monday. The brokerage presently has a $76.00 price objective on the apparel retailer’s stock. Zacks Investment Research’s price target would indicate a potential upside of 10.24% from the stock’s previous close.

According to Zacks, “Ross Stores reported a robust third-quarter fiscal 2016, wherein both top and the bottom lines beat our estimates as well as the company’s projections. Moreover, earnings and sales improved year over year. The strong results stemmed from impressive dd’s DISCOUNT performance as well as the improvement made in the ladies’ apparel business as customers favorably responded to its improved merchandise. Though Ross Stores expects to face challenges related to strong comparisons, amid macroeconomic uncertainty and a volatile retail landscape, it remains confident of performing well in the upcoming holiday season. While the company trimmed its fourth quarter earnings guidance due to the aforementioned headwinds, it raised its earnings forecast for fiscal 2016 on the back of solid year-to-date results. The company’s solid financial status, ongoing merchandise initiatives and consistent focus on store expansion bode well.”

A number of other analysts also recently weighed in on the stock. Cowen and Company set a $74.00 price target on shares of Ross Stores and gave the company a “buy” rating in a report on Saturday. BMO Capital Markets reissued a “hold” rating on shares of Ross Stores in a report on Saturday. Telsey Advisory Group increased their price target on shares of Ross Stores from $68.00 to $70.00 and gave the company a “market perform” rating in a report on Friday, November 18th. Wedbush reissued an “outperform” rating and issued a $71.00 price target (up from $67.00) on shares of Ross Stores in a report on Friday, November 18th. Finally, RBC Capital Markets set a $68.00 price target on shares of Ross Stores and gave the company a “hold” rating in a report on Friday, November 18th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and thirteen have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $67.08.

Analyst Recommendations for Ross Stores (NASDAQ:ROST)

Shares of Ross Stores (NASDAQ:ROST) opened at 68.94 on Monday. Ross Stores has a 12 month low of $49.06 and a 12 month high of $69.81. The company has a market cap of $27.34 billion, a P/E ratio of 26.24 and a beta of 0.94. The company’s 50 day moving average is $63.83 and its 200-day moving average is $60.16.

Ross Stores (NASDAQ:ROST) last posted its quarterly earnings data on Thursday, November 17th. The apparel retailer reported $0.62 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.56 by $0.06. The business earned $3.10 billion during the quarter. Ross Stores had a net margin of 8.58% and a return on equity of 42.09%. Ross Stores’s quarterly revenue was up 10.9% on a year-over-year basis. During the same period in the prior year, the company posted $0.53 earnings per share. Analysts expect that Ross Stores will post $2.76 EPS for the current fiscal year.

The company 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 annualized dividend and a yield of 0.78%. The ex-dividend date of this dividend is Monday, December 5th. Ross Stores’s payout ratio is 19.85%.

In other Ross Stores 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 document filed with the SEC, which is available at this hyperlink. Also, CEO Barbara Rentler sold 12,840 shares of Ross Stores stock in a transaction that occurred on Thursday, September 22nd. The shares were 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. Corporate insiders own 2.40% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in ROST. Vanguard Group Inc. raised its position in shares of Ross Stores by 1.2% in the second quarter. Vanguard Group Inc. now owns 38,030,533 shares of the apparel retailer’s stock worth $2,155,952,000 after buying an additional 464,766 shares during the last quarter. FMR LLC raised its position in shares of Ross Stores by 5.4% in the second quarter. FMR LLC now owns 36,204,880 shares of the apparel retailer’s stock worth $2,052,454,000 after buying an additional 1,852,111 shares during the last quarter. Price T Rowe Associates Inc. MD raised 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. Primecap Management Co. CA raised its position in shares of Ross Stores by 1.7% in the second quarter. Primecap Management Co. CA now owns 15,296,500 shares of the apparel retailer’s stock worth $867,159,000 after buying an additional 259,700 shares during the last quarter. Finally, BlackRock Fund Advisors raised its position in shares of Ross Stores by 2.3% in the third quarter. BlackRock Fund Advisors now owns 7,081,633 shares of the apparel retailer’s stock worth $455,349,000 after buying an additional 162,148 shares during the last quarter. 88.94% of the stock is currently owned by hedge funds and other institutional investors.

TRADEMARK VIOLATION NOTICE: “Ross Stores Inc. (ROST) Stock Rating Upgraded by Zacks Investment Research” was originally published by The Cerbat Gem and is the propert of of The Cerbat Gem. If you are accessing this piece on another publication, it was illegally copied and republished in violation of United States and international copyright legislation. The correct version of this piece can be read at https://www.thecerbatgem.com/2016/11/23/ross-stores-inc-rost-stock-rating-upgraded-by-zacks-investment-research.html.

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.

5 Day Chart for NASDAQ:ROST

Receive News & Stock Ratings for Ross Stores Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ross Stores Inc. and related stocks with our FREE daily email newsletter.