Ross Stores (ROST) Receives New Coverage from Analysts at DA Davidson

DA Davidson assumed coverage on shares of Ross Stores (NASDAQ:ROST) in a research report report published on Tuesday morning, The Fly reports. The brokerage issued a neutral rating on the apparel retailer’s stock.

ROST has been the topic of a number of other research reports. Cowen set a $101.00 price target on Ross Stores and gave the stock a buy rating in a research report on Monday, July 30th. Buckingham Research raised their price target on Ross Stores from $82.00 to $90.00 and gave the stock a neutral rating in a research report on Monday, August 20th. Goldman Sachs Group initiated coverage on Ross Stores in a research report on Monday, September 3rd. They issued a neutral rating and a $104.00 price target on the stock. JPMorgan Chase & Co. decreased their price target on Ross Stores from $98.00 to $96.00 and set an overweight rating on the stock in a research report on Friday, August 24th. Finally, Royal Bank of Canada raised their price target on Ross Stores to $92.00 and gave the stock a sector perform rating in a research report on Friday, August 24th. Twelve analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of Buy and a consensus target price of $95.17.

ROST opened at $97.51 on Tuesday. Ross Stores has a fifty-two week low of $62.34 and a fifty-two week high of $98.75. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.71 and a quick ratio of 0.85. The firm has a market cap of $36.40 billion, a PE ratio of 29.19, a PEG ratio of 2.38 and a beta of 1.11.

Ross Stores (NASDAQ:ROST) last posted its earnings results on Thursday, August 23rd. The apparel retailer reported $1.04 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.01 by $0.03. Ross Stores had a return on equity of 47.56% and a net margin of 10.41%. The company had revenue of $3.74 billion during the quarter, compared to the consensus estimate of $3.66 billion. During the same quarter last year, the firm earned $0.82 earnings per share. The company’s revenue was up 8.9% on a year-over-year basis. sell-side analysts predict that Ross Stores will post 4.1 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 28th. Shareholders of record on Thursday, September 13th will be given a $0.225 dividend. This represents a $0.90 dividend on an annualized basis and a yield of 0.92%. The ex-dividend date of this dividend is Wednesday, September 12th. Ross Stores’s dividend payout ratio is presently 26.95%.

In other Ross Stores news, Director Norman A. Ferber sold 10,144 shares of Ross Stores stock in a transaction dated Monday, August 27th. The stock was sold at an average price of $94.90, for a total value of $962,665.60. Following the transaction, the director now owns 25,127 shares in the company, valued at $2,384,552.30. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 2.40% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in ROST. Well Done LLC bought a new position in Ross Stores in the first quarter valued at about $113,000. Summit Trail Advisors LLC grew its position in Ross Stores by 8,064.5% in the first quarter. Summit Trail Advisors LLC now owns 139,287 shares of the apparel retailer’s stock valued at $139,000 after acquiring an additional 137,581 shares during the last quarter. NuWave Investment Management LLC grew its position in Ross Stores by 168.7% in the second quarter. NuWave Investment Management LLC now owns 1,701 shares of the apparel retailer’s stock valued at $145,000 after acquiring an additional 1,068 shares during the last quarter. SRS Capital Advisors Inc. grew its position in Ross Stores by 81.5% in the second quarter. SRS Capital Advisors Inc. now owns 1,875 shares of the apparel retailer’s stock valued at $158,000 after acquiring an additional 842 shares during the last quarter. Finally, MUFG Americas Holdings Corp grew its position in Ross Stores by 216.4% in the second quarter. MUFG Americas Holdings Corp now owns 1,924 shares of the apparel retailer’s stock valued at $163,000 after acquiring an additional 1,316 shares during the last quarter. Hedge funds and other institutional investors own 88.19% of the company’s stock.

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 brands in the United States. It primarily offers 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 regular prices to customers from households with moderate income.

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Analyst Recommendations for Ross Stores (NASDAQ:ROST)

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