Ross Stores (NASDAQ:ROST) Rating Increased to Buy at StockNews.com

StockNews.com upgraded shares of Ross Stores (NASDAQ:ROST) from a hold rating to a buy rating in a research note published on Monday.

Several other equities research analysts have also issued reports on ROST. Guggenheim reissued a “buy” rating and set a $180.00 price objective on shares of Ross Stores in a research note on Friday, November 22nd. Morgan Stanley restated an “equal weight” rating and set a $140.00 price target (down previously from $164.00) on shares of Ross Stores in a research report on Tuesday, January 21st. Wells Fargo & Company restated an “equal weight” rating and set a $165.00 price target on shares of Ross Stores in a research report on Friday, January 10th. Citigroup downgraded Ross Stores from a “buy” rating to a “neutral” rating and lowered their price target for the company from $179.00 to $152.00 in a research report on Tuesday, November 12th. Finally, Evercore ISI lifted their price objective on Ross Stores from $170.00 to $180.00 and gave the stock an “outperform” rating in a report on Friday, November 22nd. Seven research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $169.06.

Ross Stores Price Performance

Ross Stores stock opened at $138.76 on Monday. Ross Stores has a one year low of $127.53 and a one year high of $163.60. The business has a fifty day moving average price of $149.53 and a 200-day moving average price of $147.95. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.57 and a quick ratio of 0.98. The firm has a market capitalization of $45.78 billion, a P/E ratio of 21.85, a PEG ratio of 2.22 and a beta of 1.10.

Ross Stores (NASDAQ:ROST) last posted its quarterly earnings data on Thursday, November 21st. The apparel retailer reported $1.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.41 by $0.07. The company had revenue of $5.10 billion during the quarter, compared to analyst estimates of $5.15 billion. Ross Stores had a return on equity of 41.83% and a net margin of 9.95%. The firm’s quarterly revenue was up 3.6% on a year-over-year basis. During the same quarter last year, the company earned $1.33 earnings per share. As a group, equities research analysts forecast that Ross Stores will post 6.17 EPS for the current year.

Ross Stores Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 10th were given a $0.3675 dividend. The ex-dividend date was Tuesday, December 10th. This represents a $1.47 dividend on an annualized basis and a dividend yield of 1.06%. Ross Stores’s dividend payout ratio is currently 23.15%.

Hedge Funds Weigh In On Ross Stores

A number of hedge funds have recently added to or reduced their stakes in ROST. Creative Planning raised its holdings in Ross Stores by 2.5% in the 3rd quarter. Creative Planning now owns 59,913 shares of the apparel retailer’s stock worth $9,017,000 after acquiring an additional 1,442 shares during the last quarter. Bleakley Financial Group LLC boosted its holdings in Ross Stores by 1.4% in the 3rd quarter. Bleakley Financial Group LLC now owns 6,214 shares of the apparel retailer’s stock worth $935,000 after buying an additional 87 shares during the period. Net Worth Advisory Group bought a new position in Ross Stores in the 3rd quarter worth $297,000. Raymond James & Associates boosted its holdings in Ross Stores by 2.6% in the 3rd quarter. Raymond James & Associates now owns 284,978 shares of the apparel retailer’s stock worth $42,892,000 after buying an additional 7,331 shares during the period. Finally, Resonant Capital Advisors LLC boosted its holdings in Ross Stores by 2.4% in the 3rd quarter. Resonant Capital Advisors LLC now owns 5,362 shares of the apparel retailer’s stock worth $807,000 after buying an additional 127 shares during the period. 86.86% of the stock is currently owned by hedge funds and other institutional investors.

Ross Stores Company Profile

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.