Telsey Advisory Group Cuts Ross Stores, Inc. (ROST) Price Target to $70.00
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.
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%.
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.
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.