Short Interest in Ross Stores Expands By 33.3% (ROST)
Shares of Ross Stores (NASDAQ:ROST) were the recipient of a significant increase in short interest during the month of June. As of June 13th, there was short interest totalling 5,638,628 shares, an increase of 33.3% from the May 30th total of 4,230,037 shares, Stock Ratings Network reports. Approximately 2.7% of the company’s stock are sold short. Based on an average trading volume of 1,384,836 shares, the short-interest ratio is currently 4.1 days.
Several analysts have recently commented on the stock. Analysts at Zacks reiterated a “neutral” rating on shares of Ross Stores in a research note on Wednesday, June 25th. They now have a $70.00 price target on the stock. Separately, analysts at JPMorgan Chase & Co. reiterated a “neutral” rating on shares of Ross Stores in a research note on Friday, May 23rd. They now have a $76.00 price target on the stock, down previously from $78.00. Finally, analysts at Morgan Stanley cut their price target on shares of Ross Stores to $81.00 in a research note on Friday, May 23rd. They now have an “overweight” rating on the stock. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and ten have assigned a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $76.94.
Ross Stores (NASDAQ:ROST) opened at 65.80 on Monday. Ross Stores has a 52 week low of $64.64 and a 52 week high of $81.99. The stock has a 50-day moving average of $67.99 and a 200-day moving average of $70.15. The company has a market cap of $13.923 billion and a price-to-earnings ratio of 16.69.
Ross Stores (NASDAQ:ROST) last issued its quarterly earnings data on Thursday, May 22nd. The company reported $1.15 EPS for the quarter, meeting the Thomson Reuters consensus estimate of $1.15. The company had revenue of $2.68 billion for the quarter, compared to the consensus estimate of $2.69 billion. During the same quarter in the prior year, the company posted $1.07 earnings per share. The company’s quarterly revenue was up 5.6% on a year-over-year basis. On average, analysts predict that Ross Stores will post $4.21 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Monday, June 30th. Shareholders of record on Tuesday, June 10th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 1.22%. The ex-dividend date is Friday, June 6th.
Ross Stores, Inc is an off-price apparel and home fashion chain in the United States. The Company operates two brands of off-price retail apparel and home fashion stores: Ross Dress for Less (NASDAQ:ROST) and dd’s DISCOUNTS.
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