Ross Stores, Inc. (NASDAQ:ROST) Given Average Rating of “Buy” by Analysts

Ross Stores, Inc. (NASDAQ:ROSTGet Rating) has been given an average rating of “Buy” by the twenty-two analysts that are presently covering the company, MarketBeat Ratings reports. Seven research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $123.18.

ROST has been the topic of a number of recent analyst reports. StockNews.com initiated coverage on Ross Stores in a report on Thursday, March 31st. They set a “hold” rating on the stock. Truist Financial dropped their price target on Ross Stores from $136.00 to $122.00 in a report on Friday, February 18th. Credit Suisse Group lifted their price target on Ross Stores from $118.00 to $125.00 and gave the stock an “outperform” rating in a report on Monday, April 11th. TheStreet lowered Ross Stores from a “b-” rating to a “c+” rating in a report on Monday, March 7th. Finally, Citigroup dropped their price target on Ross Stores from $134.00 to $125.00 in a report on Wednesday, March 2nd.

Several large investors have recently added to or reduced their stakes in the stock. BlackRock Inc. raised its stake in shares of Ross Stores by 0.7% during the 4th quarter. BlackRock Inc. now owns 27,907,603 shares of the apparel retailer’s stock valued at $3,189,279,000 after purchasing an additional 197,944 shares during the period. State Street Corp grew its position in Ross Stores by 5.1% during the fourth quarter. State Street Corp now owns 17,026,336 shares of the apparel retailer’s stock worth $1,945,770,000 after buying an additional 827,119 shares in the last quarter. Geode Capital Management LLC grew its position in Ross Stores by 3.1% during the fourth quarter. Geode Capital Management LLC now owns 5,769,402 shares of the apparel retailer’s stock worth $657,377,000 after buying an additional 171,638 shares in the last quarter. Wellington Management Group LLP grew its position in Ross Stores by 9.1% during the third quarter. Wellington Management Group LLP now owns 4,989,402 shares of the apparel retailer’s stock worth $543,098,000 after buying an additional 416,617 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA grew its position in Ross Stores by 16.6% during the third quarter. Massachusetts Financial Services Co. MA now owns 4,915,948 shares of the apparel retailer’s stock worth $535,100,000 after buying an additional 700,164 shares in the last quarter. Institutional investors own 85.07% of the company’s stock.

Shares of NASDAQ:ROST opened at $99.77 on Monday. The stock has a market cap of $35.06 billion, a price-to-earnings ratio of 20.53, a PEG ratio of 2.06 and a beta of 1.07. The company has a quick ratio of 1.24, a current ratio of 1.77 and a debt-to-equity ratio of 0.60. Ross Stores has a 12-month low of $84.44 and a 12-month high of $134.21. The business’s 50 day moving average is $94.90 and its 200 day moving average is $102.96.

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

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

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

Ross Stores Company Profile (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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Analyst Recommendations for Ross Stores (NASDAQ:ROST)

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