MKM Partners Cuts Ross Stores (ROST) Price Target to $95.00

Ross Stores (NASDAQ:ROST) had its target price reduced by MKM Partners from $98.00 to $95.00 in a research report report published on Wednesday morning, Marketbeat reports. MKM Partners currently has a buy rating on the apparel retailer’s stock.

Several other equities research analysts also recently weighed in on ROST. Credit Suisse Group reduced their price target on shares of Ross Stores from $100.00 to $95.00 and set an outperform rating for the company in a research report on Wednesday. Nomura reduced their price target on shares of Ross Stores from $101.00 to $95.00 and set a buy rating for the company in a research report on Wednesday. Wells Fargo & Co reissued a buy rating on shares of Ross Stores in a research report on Tuesday, November 20th. Cowen set a $110.00 price target on shares of Ross Stores and gave the company a buy rating in a research report on Tuesday, November 20th. Finally, Telsey Advisory Group reduced their price target on shares of Ross Stores from $105.00 to $95.00 and set an outperform rating for the company in a research report on Wednesday. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and seventeen have assigned a buy rating to the company. Ross Stores presently has a consensus rating of Buy and an average price target of $96.12.

ROST stock opened at $80.36 on Wednesday. Ross Stores has a 52-week low of $70.84 and a 52-week high of $104.35. The company has a market cap of $30.00 billion, a PE ratio of 19.89, a price-to-earnings-growth ratio of 1.91 and a beta of 0.98. The company has a quick ratio of 0.85, a current ratio of 1.61 and a debt-to-equity ratio of 0.10.

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

The business also recently announced a quarterly dividend, which will be paid on Friday, December 28th. Shareholders of record on Friday, December 7th will be given a $0.225 dividend. This represents a $0.90 dividend on an annualized basis and a yield of 1.12%. The ex-dividend date is Thursday, December 6th. Ross Stores’s dividend payout ratio (DPR) is presently 26.95%.

In other Ross Stores news, Director Norman A. Ferber sold 10,144 shares of Ross Stores stock in a transaction that occurred 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 completion of the sale, the director now owns 25,127 shares of the company’s stock, valued at approximately $2,384,552.30. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Barbara Rentler sold 20,000 shares of Ross Stores 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 disclosure for this sale can be found here. Insiders own 2.30% of the company’s stock.

Several institutional investors have recently modified their holdings of the company. Advisory Services Network LLC boosted its stake in shares of Ross Stores by 9.0% during the 3rd quarter. Advisory Services Network LLC now owns 6,441 shares of the apparel retailer’s stock worth $638,000 after acquiring an additional 533 shares during the last quarter. Stratos Wealth Partners LTD. boosted its stake in shares of Ross Stores by 8.2% during the 3rd quarter. Stratos Wealth Partners LTD. now owns 7,516 shares of the apparel retailer’s stock worth $745,000 after acquiring an additional 570 shares during the last quarter. Keybank National Association OH boosted its stake in shares of Ross Stores by 2.3% during the 2nd quarter. Keybank National Association OH now owns 25,137 shares of the apparel retailer’s stock worth $2,130,000 after acquiring an additional 577 shares during the last quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. boosted its stake in shares of Ross Stores by 64.5% during the 3rd quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 1,530 shares of the apparel retailer’s stock worth $152,000 after acquiring an additional 600 shares during the last quarter. Finally, CIBC World Markets Inc. boosted its stake in shares of Ross Stores by 2.2% during the 3rd quarter. CIBC World Markets Inc. now owns 28,430 shares of the apparel retailer’s stock worth $2,817,000 after acquiring an additional 617 shares during the last quarter. Institutional investors and hedge funds own 88.44% 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.

Featured Story: Stock Selection – What is cash flow?

Analyst Recommendations for Ross Stores (NASDAQ:ROST)

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