Citigroup Lowers Ross Stores (ROST) Price Target to $88.00

Ross Stores (NASDAQ:ROST) had its price objective trimmed by Citigroup from $98.00 to $88.00 in a research report released on Wednesday morning. The firm currently has a neutral rating on the apparel retailer’s stock.

Several other equities research analysts also recently commented on ROST. Nomura upped their target price on Ross Stores from $90.00 to $95.00 and gave the company a buy rating in a report on Friday, August 24th. Barclays initiated coverage on Ross Stores in a report on Tuesday, September 11th. They set an equal weight rating and a $106.00 target price for the company. Deutsche Bank upped their target price on Ross Stores from $91.00 to $96.00 and gave the company a buy rating in a report on Monday, August 20th. Loop Capital set a $100.00 target price on Ross Stores and gave the company a buy rating in a report on Tuesday, November 20th. Finally, Cowen set a $110.00 target price on Ross Stores and gave the company a buy rating in a report on Tuesday, November 20th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and seventeen have issued a buy rating to the stock. The company presently has a consensus rating of Buy and a consensus target price of $96.12.

Shares of Ross Stores stock opened at $80.36 on Wednesday. The company has a quick ratio of 0.85, a current ratio of 1.61 and a debt-to-equity ratio of 0.10. The firm has a market capitalization of $30.48 billion, a PE ratio of 24.06, a PEG ratio of 1.94 and a beta of 0.98. Ross Stores has a fifty-two week low of $70.84 and a fifty-two week high of $104.35.

Ross Stores (NASDAQ:ROST) last announced its quarterly earnings data on Tuesday, November 20th. The apparel retailer reported $0.91 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.90 by $0.01. The business had revenue of $3.55 billion during the quarter, compared to analyst estimates of $3.55 billion. Ross Stores had a return on equity of 48.34% and a net margin of 10.68%. The company’s revenue was up 6.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.72 earnings per share. Equities analysts anticipate that Ross Stores will post 4.2 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 28th. Investors of record on Friday, December 7th will be given a dividend of $0.225 per share. This represents a $0.90 annualized dividend and a yield of 1.12%. The ex-dividend date is Thursday, December 6th. Ross Stores’s payout ratio is 26.95%.

In related news, CEO Barbara Rentler sold 20,000 shares of the company’s stock in a transaction on Friday, October 12th. The stock was sold at an average price of $95.15, for a total transaction of $1,903,000.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Norman A. Ferber sold 10,144 shares of the company’s stock in a transaction on Monday, August 27th. The shares were sold at an average price of $94.90, for a total value of $962,665.60. Following the transaction, the director now directly owns 25,127 shares in the company, valued at $2,384,552.30. The disclosure for this sale can be found here. 2.30% of the stock is currently owned by insiders.

Large investors have recently bought and sold shares of the stock. Bessemer Group Inc. raised its position in Ross Stores by 856.6% during the third quarter. Bessemer Group Inc. now owns 1,014 shares of the apparel retailer’s stock valued at $101,000 after buying an additional 908 shares during the period. Capital Bank & Trust Co raised its position in Ross Stores by 210.0% during the third quarter. Capital Bank & Trust Co now owns 1,085 shares of the apparel retailer’s stock valued at $108,000 after buying an additional 735 shares during the period. TRUE Private Wealth Advisors acquired a new position in Ross Stores during the third quarter valued at $115,000. Mitsubishi UFJ Securities Holdings Co. Ltd. raised its position in Ross Stores by 64.5% during the third quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 1,530 shares of the apparel retailer’s stock valued at $152,000 after buying an additional 600 shares during the period. Finally, NuWave Investment Management LLC increased its position in Ross Stores by 168.7% in the 2nd quarter. NuWave Investment Management LLC now owns 1,701 shares of the apparel retailer’s stock worth $145,000 after purchasing an additional 1,068 shares during the last quarter. 88.44% of the stock is currently owned by hedge funds and other institutional investors.

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.

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