Ross Stores, Inc. (NASDAQ:ROST) had its price target decreased by analysts at Telsey Advisory Group from $77.00 to $70.00 in a research note issued on Friday. The firm currently has a “market perform” rating on the apparel retailer’s stock. Telsey Advisory Group’s target price suggests a potential upside of 12.54% from the stock’s previous close.

A number of other research analysts also recently issued reports on ROST. Zacks Investment Research downgraded shares of Ross Stores from a “buy” rating to a “hold” rating in a research report on Monday, January 23rd. Susquehanna Bancshares Inc began coverage on shares of Ross Stores in a research report on Friday, February 10th. They set a “positive” rating and a $80.00 target price on the stock. Citigroup Inc downgraded shares of Ross Stores from a “buy” rating to a “neutral” rating in a research report on Wednesday, March 1st. They noted that the move was a valuation call. Jefferies Group LLC boosted their target price on shares of Ross Stores from $59.00 to $63.00 and gave the company a “hold” rating in a research report on Wednesday, March 1st. Finally, Wedbush boosted their target price on shares of Ross Stores from $71.00 to $73.00 and gave the company an “outperform” rating in a research report on Wednesday, March 1st. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and twelve have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $68.87.

Analyst Recommendations for Ross Stores (NASDAQ:ROST)

Ross Stores (NASDAQ:ROST) traded up 1.85% during midday trading on Friday, reaching $62.20. 6,901,192 shares of the company’s stock traded hands. The firm has a market cap of $24.04 billion, a price-to-earnings ratio of 21.31 and a beta of 0.94. Ross Stores has a 1-year low of $52.06 and a 1-year high of $69.81. The stock’s 50 day moving average price is $64.00 and its 200 day moving average price is $65.95.

Ross Stores (NASDAQ:ROST) last posted its quarterly earnings data on Thursday, May 18th. The apparel retailer reported $0.82 EPS for the quarter, beating the Zacks’ consensus estimate of $0.80 by $0.02. Ross Stores had a net margin of 8.58% and a return on equity of 42.09%. The company had revenue of $3.31 billion for the quarter, compared to analyst estimates of $3.27 billion. During the same period in the prior year, the firm posted $0.73 EPS. The company’s quarterly revenue was up 7.0% on a year-over-year basis. Equities research analysts anticipate that Ross Stores will post $3.18 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 30th. Shareholders of record on Tuesday, June 6th will be given a dividend of $0.16 per share. The ex-dividend date of this dividend is Friday, June 2nd. This represents a $0.64 dividend on an annualized basis and a yield of 1.03%. Ross Stores’s dividend payout ratio is presently 19.85%.

WARNING: This piece of content was originally posted by American Banking News and is the sole property of of American Banking News. If you are reading this piece of content on another domain, it was copied illegally and reposted in violation of U.S. and international trademark and copyright legislation. The legal version of this piece of content can be accessed at https://www.americanbankingnews.com/2017/05/20/telsey-advisory-group-cuts-ross-stores-inc-rost-price-target-to-70-00.html.

In other news, VP Michael J. Hartshorn sold 9,585 shares of the firm’s stock in a transaction that occurred on Friday, March 10th. The shares were sold at an average price of $66.94, for a total value of $641,619.90. Following the completion of the transaction, the vice president now directly owns 67,686 shares in the company, valued at $4,530,900.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Brian R. Morrow sold 3,004 shares of the firm’s stock in a transaction that occurred on Friday, April 7th. The shares were sold at an average price of $63.16, for a total transaction of $189,732.64. Following the completion of the transaction, the insider now owns 121,712 shares of the company’s stock, valued at $7,687,329.92. The disclosure for this sale can be found here. Insiders have sold 192,294 shares of company stock valued at $12,793,360 in the last quarter. Company insiders own 2.40% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in ROST. Bank of Nova Scotia raised its position in Ross Stores by 930.0% in the first quarter. Bank of Nova Scotia now owns 90,249 shares of the apparel retailer’s stock worth $5,945,000 after buying an additional 81,487 shares during the period. Financial Advisors Network Inc. raised its position in Ross Stores by 7.6% in the first quarter. Financial Advisors Network Inc. now owns 4,379 shares of the apparel retailer’s stock worth $276,000 after buying an additional 308 shares during the period. Point72 Asset Management L.P. purchased a new position in Ross Stores during the first quarter worth approximately $28,548,000. Janus Capital Management LLC raised its position in Ross Stores by 99.4% in the first quarter. Janus Capital Management LLC now owns 1,287,068 shares of the apparel retailer’s stock worth $84,779,000 after buying an additional 641,600 shares during the period. Finally, Archford Capital Strategies LLC raised its position in Ross Stores by 14.9% in the first quarter. Archford Capital Strategies LLC now owns 8,295 shares of the apparel retailer’s stock worth $533,000 after buying an additional 1,077 shares during the period. Institutional investors own 91.43% of the company’s stock.

Ross Stores Company Profile

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.

12 Month Chart for NASDAQ:ROST

Receive News & 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 companies with MarketBeat.com's FREE daily email newsletter.