Ross Stores (ROST) Hits New 12-Month High at $89.86

Shares of Ross Stores, Inc. (NASDAQ:ROST) reached a new 52-week high on Thursday . The stock traded as high as $89.86 and last traded at $89.47, with a volume of 250025 shares traded. The stock had previously closed at $85.81.

Several research firms have weighed in on ROST. BidaskClub downgraded shares of Ross Stores from a “strong-buy” rating to a “buy” rating in a research report on Thursday, July 12th. Deutsche Bank began coverage on shares of Ross Stores in a research report on Monday, April 30th. They set a “buy” rating and a $94.00 target price on the stock. UBS Group began coverage on shares of Ross Stores in a research report on Thursday, June 21st. They set a “neutral” rating and a $90.00 target price on the stock. Loop Capital boosted their target price on shares of Ross Stores from $88.00 to $95.00 and gave the stock a “buy” rating in a research report on Wednesday, June 27th. Finally, Deutsche Bank dropped their target price on shares of Ross Stores from $94.00 to $91.00 and set a “buy” rating on the stock in a research report on Friday, May 25th. Nine equities research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Ross Stores has a consensus rating of “Buy” and a consensus target price of $87.50.

The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.74 and a current ratio of 1.64. The company has a market cap of $32.92 billion, a PE ratio of 26.79, a price-to-earnings-growth ratio of 2.16 and a beta of 1.07.

Ross Stores (NASDAQ:ROST) last posted its earnings results on Thursday, May 24th. The apparel retailer reported $1.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.07 by $0.04. Ross Stores had a net margin of 10.13% and a return on equity of 46.48%. The firm had revenue of $3.59 billion during the quarter, compared to analysts’ expectations of $3.54 billion. During the same period in the previous year, the business posted $0.82 EPS. The business’s revenue was up 8.5% compared to the same quarter last year. research analysts expect that Ross Stores, Inc. will post 4.05 EPS for the current year.

In related news, insider James S. Fassio sold 175,769 shares of the business’s stock in a transaction on Thursday, June 21st. The shares were sold at an average price of $86.57, for a total value of $15,216,322.33. Following the completion of the transaction, the insider now directly owns 82,899 shares in the company, valued at approximately $7,176,566.43. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Barbara Rentler sold 25,000 shares of the business’s stock in a transaction on Friday, June 8th. The shares were sold at an average price of $85.45, for a total transaction of $2,136,250.00. Following the completion of the transaction, the chief executive officer now owns 475,736 shares of the company’s stock, valued at $40,651,641.20. The disclosure for this sale can be found here. Over the last quarter, insiders sold 236,268 shares of company stock valued at $20,170,488. Company insiders own 2.30% of the company’s stock.

Large investors have recently bought and sold shares of the business. LPL Financial LLC raised its position in Ross Stores by 28.1% during the fourth quarter. LPL Financial LLC now owns 21,575 shares of the apparel retailer’s stock worth $1,732,000 after acquiring an additional 4,732 shares during the period. Robeco Institutional Asset Management B.V. raised its position in Ross Stores by 10.3% during the first quarter. Robeco Institutional Asset Management B.V. now owns 497,121 shares of the apparel retailer’s stock worth $38,768,000 after acquiring an additional 46,447 shares during the period. Hilltop Holdings Inc. acquired a new position in Ross Stores during the first quarter worth $337,000. Millennium Management LLC raised its position in Ross Stores by 29.8% during the first quarter. Millennium Management LLC now owns 2,603,686 shares of the apparel retailer’s stock worth $203,035,000 after acquiring an additional 598,433 shares during the period. Finally, Glen Harbor Capital Management LLC raised its position in Ross Stores by 35.5% during the first quarter. Glen Harbor Capital Management LLC now owns 139,150 shares of the apparel retailer’s stock worth $10,851,000 after acquiring an additional 36,454 shares during the period. Institutional investors own 88.23% of the company’s stock.

About Ross Stores

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.

Recommended Story: Diversification in Your Portfolio

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.

Leave a Reply