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 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.
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