Other research analysts also recently issued reports about the stock. Guggenheim reissued a “buy” rating and issued a $105.00 price target on shares of Ross Stores in a report on Tuesday, March 5th. Zacks Investment Research raised shares of Ross Stores from a “sell” rating to a “hold” rating in a report on Monday, May 13th. DA Davidson raised their price target on shares of Ross Stores to $92.00 and gave the company a “neutral” rating in a report on Thursday, March 7th. Wells Fargo & Co raised their price target on shares of Ross Stores from $92.00 to $104.00 and gave the company an “outperform” rating in a report on Wednesday, March 6th. Finally, Credit Suisse Group raised their price target on shares of Ross Stores from $95.00 to $100.00 and gave the company an “outperform” rating in a report on Wednesday, March 6th. Ten equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $98.13.
ROST opened at $98.47 on Wednesday. The company has a market capitalization of $36.15 billion, a P/E ratio of 23.12, a price-to-earnings-growth ratio of 2.11 and a beta of 0.89. Ross Stores has a 12 month low of $75.91 and a 12 month high of $104.35. The company has a quick ratio of 0.64, a current ratio of 1.34 and a debt-to-equity ratio of 0.87.
Ross Stores announced that its board has authorized a stock buyback plan on Tuesday, March 5th that authorizes the company to buyback $2.55 billion in outstanding shares. This buyback authorization authorizes the apparel retailer to buy up to 7.3% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its stock is undervalued.
In other news, Chairman Michael Balmuth sold 81,049 shares of the firm’s stock in a transaction on Friday, May 31st. The shares were sold at an average price of $92.87, for a total transaction of $7,527,020.63. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Michael J. Hartshorn sold 9,924 shares of the firm’s stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $91.48, for a total transaction of $907,847.52. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 192,414 shares of company stock worth $17,699,558. Corporate insiders own 2.30% of the company’s stock.
A number of large investors have recently modified their holdings of ROST. CI Investments Inc. bought a new position in shares of Ross Stores in the fourth quarter worth approximately $26,000. First Manhattan Co. purchased a new stake in shares of Ross Stores in the first quarter valued at $27,000. Athena Capital Advisors LLC purchased a new stake in shares of Ross Stores in the fourth quarter valued at $29,000. Berman Capital Advisors LLC purchased a new stake in shares of Ross Stores in the fourth quarter valued at $32,000. Finally, Omnia Family Wealth LLC raised its stake in shares of Ross Stores by 1,387.5% in the fourth quarter. Omnia Family Wealth LLC now owns 476 shares of the apparel retailer’s stock valued at $40,000 after acquiring an additional 444 shares during the period. Institutional investors own 88.96% 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. Its stores 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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