William Blair Analysts Raise Earnings Estimates for Ross Stores Inc. (ROST)
Ross Stores Inc. (NASDAQ:ROST) – Analysts at William Blair increased their FY2017 earnings per share (EPS) estimates for Ross Stores in a report released on Friday. William Blair analyst D. Hofkin now forecasts that the firm will earn $2.81 per share for the year, up from their prior forecast of $2.76. William Blair also issued estimates for Ross Stores’ FY2018 earnings at $3.05 EPS.
Several other research analysts also recently issued reports on the company. Vetr downgraded Ross Stores from a “buy” rating to a “hold” rating and set a $65.00 price objective on the stock. in a report on Monday, August 15th. Jefferies Group reissued a “hold” rating and issued a $57.00 price target (up previously from $51.00) on shares of Ross Stores in a research note on Friday, August 19th. Buckingham Research raised Ross Stores from a “neutral” rating to a “buy” rating in a research note on Thursday, August 25th. Bank of America Corp. set a $70.00 price target on Ross Stores and gave the company a “buy” rating in a research note on Monday, September 12th. Finally, Zacks Investment Research downgraded Ross Stores from a “buy” rating to a “hold” rating in a research note on Tuesday, September 27th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and thirteen have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $67.08.
Shares of Ross Stores (NASDAQ:ROST) traded up 0.7227% on Monday, hitting $69.4382. The stock had a trading volume of 532,478 shares. The company has a market capitalization of $27.54 billion, a P/E ratio of 26.4325 and a beta of 0.94. Ross Stores has a one year low of $49.06 and a one year high of $69.81. The firm has a 50 day moving average price of $63.83 and a 200 day moving average price of $60.16.
Ross Stores (NASDAQ:ROST) last issued its quarterly earnings results on Thursday, November 17th. The apparel retailer reported $0.62 earnings per share for the quarter, beating analysts’ consensus estimates of $0.56 by $0.06. Ross Stores had a return on equity of 42.09% and a net margin of 8.58%. The business had revenue of $3.10 billion for the quarter. During the same quarter in the prior year, the firm posted $0.53 EPS. The business’s quarterly revenue was up 10.9% compared to the same quarter last year.
Several institutional investors have recently made changes to their positions in ROST. D.A. Davidson & CO. raised 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 valued at $4,263,000 after buying an additional 27,269 shares in the last quarter. Piedmont Investment Advisors LLC acquired a new stake in Ross Stores during the third quarter valued at approximately $5,842,000. Price T Rowe Associates Inc. MD increased its stake in 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 valued at $1,463,565,000 after buying an additional 3,702,651 shares during the last quarter. Cornerstone Capital Management Holdings LLC. increased its stake in 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 valued at $15,921,000 after buying an additional 109,693 shares during the last quarter. Finally, Credit Suisse AG increased its stake in Ross Stores by 9.0% in the third quarter. Credit Suisse AG now owns 997,111 shares of the apparel retailer’s stock valued at $64,115,000 after buying an additional 82,447 shares during the last quarter. Hedge funds and other institutional investors own 88.94% of the company’s stock.
In other news, CEO Barbara Rentler sold 12,840 shares of the company’s stock in a transaction dated Thursday, September 22nd. The shares were sold at an average price of $63.76, for a total transaction of $818,678.40. Following the transaction, the chief executive officer now owns 542,851 shares in the company, valued at $34,612,179.76. The sale was disclosed in a document filed 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 dated Thursday, September 22nd. The shares were sold at an average price of $63.35, for a total transaction of $760,200.00. The disclosure for this sale can be found here. 2.40% of the stock is currently owned by corporate insiders.
The firm 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 $0.135 dividend. The ex-dividend date is Monday, December 5th. This represents a $0.54 annualized dividend and a dividend yield of 0.78%. Ross Stores’s dividend payout ratio is 19.85%.
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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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