Ross Stores (ROST) Stock Rating Reaffirmed by Jefferies Group
Jefferies Group reissued their hold rating on shares of Ross Stores (NASDAQ:ROST) in a research note published on Wednesday. The brokerage currently has a $73.00 target price on the apparel retailer’s stock. Jefferies Group also issued estimates for Ross Stores’ Q1 2019 earnings at $1.04 EPS, Q2 2019 earnings at $0.96 EPS, Q3 2019 earnings at $0.83 EPS, Q4 2019 earnings at $1.12 EPS, FY2019 earnings at $3.95 EPS and FY2020 earnings at $4.22 EPS.
ROST has been the subject of several other reports. BMO Capital Markets upped their price objective on Ross Stores from $65.00 to $71.00 and gave the company a market perform rating in a research note on Friday, November 17th. SunTrust Banks reaffirmed a buy rating on shares of Ross Stores in a research note on Friday, February 2nd. Morgan Stanley upped their price objective on Ross Stores from $70.00 to $77.00 and gave the company an overweight rating in a research note on Friday, November 17th. Nomura reaffirmed a buy rating and set a $90.00 price objective (up from $80.00) on shares of Ross Stores in a research note on Wednesday, January 17th. Finally, BidaskClub raised Ross Stores from a hold rating to a buy rating in a research note on Wednesday, January 24th. Nine analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. The stock currently has a consensus rating of Buy and a consensus target price of $80.86.
Ross Stores (NASDAQ ROST) traded up $1.79 on Wednesday, reaching $77.01. The company’s stock had a trading volume of 3,419,952 shares, compared to its average volume of 2,853,814. The company has a current ratio of 1.64, a quick ratio of 0.68 and a debt-to-equity ratio of 0.10. The stock has a market cap of $29,429.06, a P/E ratio of 21.69, a PEG ratio of 1.91 and a beta of 1.09. Ross Stores has a 12-month low of $52.85 and a 12-month high of $85.66.
The company also recently declared a quarterly dividend, which will be paid on Friday, March 30th. Investors of record on Monday, March 19th will be issued a $0.225 dividend. The ex-dividend date is Friday, March 16th. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.17%. This is a boost from Ross Stores’s previous quarterly dividend of $0.16. Ross Stores’s dividend payout ratio is currently 18.03%.
Ross Stores announced that its board has authorized a share repurchase program on Tuesday, March 6th that permits the company to repurchase $200.00 million in outstanding shares. This repurchase authorization permits the apparel retailer to buy shares of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board of directors believes its stock is undervalued.
Several institutional investors and hedge funds have recently added to or reduced their stakes in ROST. Raymond James Financial Services Advisors Inc. grew its holdings in shares of Ross Stores by 5.9% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 89,653 shares of the apparel retailer’s stock worth $5,789,000 after acquiring an additional 5,031 shares during the period. Dupont Capital Management Corp grew its holdings in shares of Ross Stores by 480.2% in the 3rd quarter. Dupont Capital Management Corp now owns 14,023 shares of the apparel retailer’s stock worth $905,000 after acquiring an additional 11,606 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its holdings in shares of Ross Stores by 5.7% in the 3rd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 79,100 shares of the apparel retailer’s stock worth $5,107,000 after acquiring an additional 4,240 shares during the period. State of Tennessee Treasury Department grew its holdings in shares of Ross Stores by 41.6% in the 3rd quarter. State of Tennessee Treasury Department now owns 293,375 shares of the apparel retailer’s stock worth $18,943,000 after acquiring an additional 86,158 shares during the period. Finally, Daiwa Securities Group Inc. grew its holdings in shares of Ross Stores by 18.3% in the 3rd quarter. Daiwa Securities Group Inc. now owns 20,408 shares of the apparel retailer’s stock worth $1,317,000 after acquiring an additional 3,158 shares during the period. Institutional investors and hedge funds own 88.60% of the company’s stock.
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About Ross Stores
Ross Stores, Inc and its subsidiaries operate two brands of off-price retail apparel and home fashion stores-Ross Dress for Less (Ross) and dd’s DISCOUNTS. The Company is the off-price apparel and home fashion chain in the United States, with 1,340 locations in 36 states, the District of Columbia and Guam, as of January 28, 2017.
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