Ross Stores Positioned to Shine in the Holiday Shopping Season
Other analysts also recently issued reports about the stock. TD Cowen lowered their price objective on shares of Ross Stores from $185.00 to $177.00 and set a "buy" rating on the stock in a report on Tuesday. Gordon Haskett raised shares of Ross Stores to a "strong-buy" rating in a research report on Friday, August 23rd. Telsey Advisory Group restated a "market perform" rating and set a $175.00 price objective on shares of Ross Stores in a research note on Monday. Bank of America lifted their target price on Ross Stores from $170.00 to $180.00 and gave the company a "buy" rating in a research report on Friday, August 23rd. Finally, UBS Group increased their price target on Ross Stores from $147.00 to $167.00 and gave the company a "neutral" rating in a research report on Friday, August 23rd. Five investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $171.06.
Read Our Latest Stock Analysis on ROST
Shares of Ross Stores stock traded up $4.91 on Friday, hitting $147.87. The company had a trading volume of 2,827,186 shares, compared to its average volume of 2,296,620. Ross Stores has a twelve month low of $127.53 and a twelve month high of $163.60. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.56 and a quick ratio of 1.05. The stock has a 50-day moving average of $145.32 and a 200-day moving average of $144.43. The firm has a market capitalization of $49.06 billion, a P/E ratio of 24.09, a P/E/G ratio of 2.34 and a beta of 1.09.
Ross Stores (NASDAQ:ROST - Get Free Report) last released its earnings results on Thursday, November 21st. The apparel retailer reported $1.48 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.41 by $0.07. The firm had revenue of $5.10 billion during the quarter, compared to analysts' expectations of $5.15 billion. Ross Stores had a return on equity of 42.43% and a net margin of 9.82%. The company's revenue was up 3.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.33 EPS. Research analysts predict that Ross Stores will post 6.11 earnings per share for the current year.
In related news, CEO Barbara Rentler sold 48,885 shares of the stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $153.93, for a total value of $7,524,868.05. Following the completion of the transaction, the chief executive officer now owns 311,853 shares of the company's stock, valued at $48,003,532.29. This represents a 13.55 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Chairman Michael Balmuth sold 14,887 shares of the business's stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $152.22, for a total transaction of $2,266,099.14. Following the sale, the chairman now directly owns 11,133 shares in the company, valued at approximately $1,694,665.26. The trade was a 57.21 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 72,138 shares of company stock worth $11,093,051. Company insiders own 2.10% of the company's stock.
Several hedge funds have recently added to or reduced their stakes in ROST. University of Texas Texas AM Investment Management Co. bought a new stake in Ross Stores in the second quarter valued at approximately $27,000. SJS Investment Consulting Inc. boosted its stake in shares of Ross Stores by 262.1% in the 2nd quarter. SJS Investment Consulting Inc. now owns 210 shares of the apparel retailer's stock valued at $31,000 after purchasing an additional 152 shares during the last quarter. Industrial Alliance Investment Management Inc. acquired a new stake in shares of Ross Stores during the second quarter worth $32,000. Armstrong Advisory Group Inc. bought a new position in Ross Stores during the third quarter worth $33,000. Finally, Crewe Advisors LLC lifted its holdings in Ross Stores by 97.8% in the second quarter. Crewe Advisors LLC now owns 275 shares of the apparel retailer's stock valued at $40,000 after buying an additional 136 shares during the period. 86.86% of the stock is currently owned by institutional investors and hedge funds.
Ross Stores, Inc, together with its subsidiaries, operates off-price retail apparel and home fashion stores under the Ross Dress for Less and dd's DISCOUNTS brand names in the United States. Its stores primarily offer apparel, accessories, footwear, and home fashions. The company's Ross Dress for Less stores sell its products at department and specialty stores to middle income households; and dd's DISCOUNTS stores sell its products at department and discount stores for households with moderate income.
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