Ross Stores (NASDAQ:ROST) Price Target Increased to $103.00 by Analysts at Cowen

Ross Stores (NASDAQ:ROSTGet Rating) had its price target increased by Cowen to $103.00 in a research note published on Monday, Stock Target Advisor reports.

Several other analysts have also recently issued reports on ROST. Citigroup increased their target price on Ross Stores from $100.00 to $116.00 and gave the company a buy rating in a research report on Friday. Gordon Haskett raised Ross Stores from a hold rating to a buy rating and set a $130.00 target price on the stock in a research report on Friday. Credit Suisse Group increased their target price on Ross Stores from $99.00 to $123.00 and gave the company an outperform rating in a research report on Friday. Loop Capital increased their target price on Ross Stores from $80.00 to $85.00 in a research report on Friday, August 19th. Finally, UBS Group increased their price objective on Ross Stores from $92.00 to $108.00 and gave the company a neutral rating in a report on Friday. Five analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of Moderate Buy and an average target price of $114.30.

Ross Stores Stock Up 4.4 %

Shares of NASDAQ:ROST opened at $112.30 on Monday. Ross Stores has a 52-week low of $69.24 and a 52-week high of $115.90. The stock has a market cap of $38.98 billion, a P/E ratio of 27.26, a price-to-earnings-growth ratio of 2.39 and a beta of 0.97. The business’s 50 day moving average is $90.25 and its 200 day moving average is $85.54. The company has a quick ratio of 1.23, a current ratio of 1.95 and a debt-to-equity ratio of 0.59.

Ross Stores (NASDAQ:ROSTGet Rating) last announced its quarterly earnings data on Thursday, November 17th. The apparel retailer reported $1.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.81 by $0.19. The company had revenue of $4.57 billion for the quarter, compared to analysts’ expectations of $4.37 billion. Ross Stores had a return on equity of 34.95% and a net margin of 7.74%. Ross Stores’s revenue was down .2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.09 earnings per share. Sell-side analysts predict that Ross Stores will post 4.29 EPS for the current year.

Ross Stores Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 30th. Shareholders of record on Tuesday, December 6th will be given a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a yield of 1.10%. The ex-dividend date of this dividend is Monday, December 5th. Ross Stores’s dividend payout ratio is currently 30.10%.

Institutional Investors Weigh In On Ross Stores

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Industrial Alliance Investment Management Inc. grew its position in Ross Stores by 2.7% during the 3rd quarter. Industrial Alliance Investment Management Inc. now owns 28,041 shares of the apparel retailer’s stock worth $2,363,000 after purchasing an additional 732 shares during the period. Kentucky Retirement Systems Insurance Trust Fund grew its position in Ross Stores by 4.5% during the 3rd quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 12,540 shares of the apparel retailer’s stock worth $1,057,000 after purchasing an additional 535 shares during the period. Kentucky Retirement Systems grew its position in Ross Stores by 5.0% during the 3rd quarter. Kentucky Retirement Systems now owns 27,391 shares of the apparel retailer’s stock worth $2,308,000 after purchasing an additional 1,311 shares during the period. Bain Capital Public Equity Management II LLC acquired a new stake in Ross Stores during the 3rd quarter worth about $45,046,000. Finally, Balyasny Asset Management LLC acquired a new stake in Ross Stores during the 3rd quarter worth about $118,218,000. 87.65% of the stock is owned by institutional investors and hedge funds.

Ross Stores Company Profile

(Get Rating)

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. 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 primarily to middle income households; and dd's DISCOUNTS stores sell its products at department and discount stores for households with moderate income.

See Also

Analyst Recommendations for Ross Stores (NASDAQ:ROST)

Receive News & Ratings for Ross Stores Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ross Stores and related companies with MarketBeat.com's FREE daily email newsletter.