Ross Stores (ROST) Upgraded to “Buy” by BidaskClub

BidaskClub upgraded shares of Ross Stores (NASDAQ:ROST) from a hold rating to a buy rating in a report released on Friday.

A number of other equities research analysts have also issued reports on the company. Credit Suisse Group began coverage on Ross Stores in a research report on Monday, March 12th. They issued an outperform rating and a $88.00 price target for the company. Zacks Investment Research lowered Ross Stores from a buy rating to a hold rating in a research report on Friday, March 9th. Loop Capital began coverage on Ross Stores in a research report on Thursday, March 8th. They issued a buy rating and a $85.00 price target for the company. SunTrust Banks set a $93.00 price target on Ross Stores and gave the company a buy rating in a research report on Wednesday, March 7th. Finally, Susquehanna Bancshares set a $95.00 price target on Ross Stores and gave the company a buy rating in a research report on Wednesday, March 7th. Seven analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. The stock has a consensus rating of Buy and an average price target of $81.86.

NASDAQ:ROST traded up $1.82 during trading hours on Friday, hitting $77.98. 3,247,472 shares of the stock were exchanged, compared to its average volume of 3,267,826. Ross Stores has a 52-week low of $52.85 and a 52-week high of $85.66. The company has a current ratio of 1.64, a quick ratio of 0.78 and a debt-to-equity ratio of 0.10. The firm has a market cap of $29,799.75, a P/E ratio of 23.35, a price-to-earnings-growth ratio of 1.93 and a beta of 1.09.

Ross Stores (NASDAQ:ROST) last posted its quarterly earnings data on Tuesday, March 6th. The apparel retailer reported $0.98 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.93 by $0.05. Ross Stores had a return on equity of 44.53% and a net margin of 9.64%. The company had revenue of $4.07 billion during the quarter, compared to analyst estimates of $3.95 billion. research analysts forecast that Ross Stores will post 4.03 earnings per share for the current year.

Ross Stores declared that its board has approved a share repurchase program on Tuesday, March 6th that permits the company to buyback $200.00 million in outstanding shares. This buyback authorization permits the apparel retailer to purchase shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s leadership believes its shares are undervalued.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 30th. Investors of record on Monday, March 19th were given a $0.225 dividend. This represents a $0.90 annualized dividend and a yield of 1.15%. This is a positive change from Ross Stores’s previous quarterly dividend of $0.16. The ex-dividend date of this dividend was Friday, March 16th. Ross Stores’s dividend payout ratio is presently 26.95%.

In other Ross Stores news, insider Brian R. Morrow sold 18,282 shares of the company’s stock in a transaction on Wednesday, March 21st. The stock was sold at an average price of $78.50, for a total transaction of $1,435,137.00. Following the transaction, the insider now directly owns 109,235 shares in the company, valued at $8,574,947.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Lisa R. Panattoni sold 31,824 shares of the company’s stock in a transaction on Monday, March 26th. The stock was sold at an average price of $75.75, for a total value of $2,410,668.00. Following the transaction, the insider now owns 114,433 shares in the company, valued at $8,668,299.75. The disclosure for this sale can be found here. Insiders have sold 196,751 shares of company stock worth $15,084,913 over the last 90 days. 2.30% of the stock is owned by insiders.

A number of large investors have recently added to or reduced their stakes in the business. Novare Capital Management LLC lifted its stake in Ross Stores by 4.4% during the fourth quarter. Novare Capital Management LLC now owns 15,302 shares of the apparel retailer’s stock worth $1,228,000 after purchasing an additional 640 shares in the last quarter. Daiwa SB Investments Ltd. lifted its stake in Ross Stores by 5.1% during the fourth quarter. Daiwa SB Investments Ltd. now owns 13,750 shares of the apparel retailer’s stock worth $1,103,000 after purchasing an additional 670 shares in the last quarter. Bbva Compass Bancshares Inc. lifted its stake in Ross Stores by 15.8% during the fourth quarter. Bbva Compass Bancshares Inc. now owns 5,355 shares of the apparel retailer’s stock worth $430,000 after purchasing an additional 730 shares in the last quarter. Private Advisor Group LLC lifted its stake in Ross Stores by 5.2% during the third quarter. Private Advisor Group LLC now owns 16,256 shares of the apparel retailer’s stock worth $1,061,000 after purchasing an additional 806 shares in the last quarter. Finally, BB&T Investment Services Inc. lifted its stake in Ross Stores by 7.1% during the fourth quarter. BB&T Investment Services Inc. now owns 13,861 shares of the apparel retailer’s stock worth $1,128,000 after purchasing an additional 920 shares in the last quarter. Institutional investors own 89.58% of the company’s stock.

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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.

Analyst Recommendations for Ross Stores (NASDAQ:ROST)

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