Ross Stores (NASDAQ:ROST) Given New $125.00 Price Target at Credit Suisse Group

Ross Stores (NASDAQ:ROSTGet Rating) had its price target lifted by Credit Suisse Group from $118.00 to $125.00 in a report released on Monday morning, The Fly reports. Credit Suisse Group currently has an outperform rating on the apparel retailer’s stock.

Several other analysts also recently commented on ROST. Cowen reduced their target price on shares of Ross Stores from $109.00 to $103.00 and set a market perform rating for the company in a report on Tuesday, February 22nd. Barclays lifted their target price on shares of Ross Stores from $113.00 to $130.00 in a report on Friday, April 1st. Citigroup reduced their target price on shares of Ross Stores from $134.00 to $125.00 in a report on Wednesday, March 2nd. Gordon Haskett downgraded shares of Ross Stores from an accumulate rating to a hold rating and cut their price objective for the company from $130.00 to $106.00 in a report on Thursday, February 10th. Finally, StockNews.com started coverage on shares of Ross Stores in a report on Thursday, March 31st. They issued a hold rating for the company. Seven equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Ross Stores presently has a consensus rating of Buy and an average price target of $123.06.

Shares of ROST opened at $99.71 on Monday. The firm has a 50-day moving average of $92.34 and a 200-day moving average of $103.50. Ross Stores has a one year low of $84.44 and a one year high of $134.21. The company has a market cap of $35.04 billion, a PE ratio of 20.52, a price-to-earnings-growth ratio of 1.92 and a beta of 1.07. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.77 and a quick ratio of 1.24.

Ross Stores (NASDAQ:ROSTGet Rating) last announced its quarterly earnings data on Tuesday, March 1st. The apparel retailer reported $1.04 EPS for the quarter, beating analysts’ consensus estimates of $0.97 by $0.07. Ross Stores had a net margin of 9.11% and a return on equity of 44.17%. The company had revenue of $5.02 billion during the quarter, compared to the consensus estimate of $4.95 billion. During the same quarter last year, the firm posted $0.67 EPS. The company’s quarterly revenue was up 18.1% on a year-over-year basis. Analysts expect that Ross Stores will post 5.06 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 31st. Investors of record on Tuesday, March 15th were given a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a yield of 1.24%. This is a boost from Ross Stores’s previous quarterly dividend of $0.29. The ex-dividend date of this dividend was Monday, March 14th. Ross Stores’s dividend payout ratio is currently 25.51%.

Ross Stores declared that its board has initiated a share buyback program on Tuesday, March 1st that authorizes the company to buyback $1.90 billion in shares. This buyback authorization authorizes the apparel retailer to repurchase up to 6% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.

A number of hedge funds have recently added to or reduced their stakes in ROST. Equitec Proprietary Markets LLC acquired a new position in Ross Stores during the 4th quarter worth approximately $26,000. Zullo Investment Group Inc. acquired a new position in Ross Stores in the 4th quarter valued at approximately $30,000. Clearview Wealth Advisors LLC increased its position in Ross Stores by 48.3% in the 3rd quarter. Clearview Wealth Advisors LLC now owns 307 shares of the apparel retailer’s stock valued at $33,000 after acquiring an additional 100 shares during the period. First Horizon Advisors Inc. increased its position in Ross Stores by 607.9% in the 3rd quarter. First Horizon Advisors Inc. now owns 538 shares of the apparel retailer’s stock valued at $36,000 after acquiring an additional 462 shares during the period. Finally, Kozak & Associates Inc. acquired a new position in Ross Stores in the 3rd quarter valued at approximately $45,000. Institutional investors and hedge funds own 85.07% of the company’s stock.

About Ross Stores (Get Rating)

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 offer 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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