Ross Stores (NASDAQ:ROST) Price Target Raised to $112.00 at JPMorgan Chase & Co.

Ross Stores (NASDAQ:ROSTGet Rating) had its price objective raised by JPMorgan Chase & Co. from $98.00 to $112.00 in a research note released on Friday morning, The Fly reports.

Several other equities research analysts have also recently issued reports on ROST. William Blair reissued an outperform rating on shares of Ross Stores in a research report on Friday, August 19th. TheStreet cut shares of Ross Stores from a b- rating to a c+ rating in a research report on Thursday, May 19th. BMO Capital Markets reduced their price target on shares of Ross Stores from $116.00 to $99.00 in a research report on Friday, May 20th. Robert W. Baird lifted their price target on shares of Ross Stores from $90.00 to $105.00 and gave the company an outperform rating in a research report on Friday, August 19th. Finally, UBS Group lifted their price target on shares of Ross Stores from $85.00 to $92.00 and gave the company a neutral rating in a research report on Friday, August 19th. Seven equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, Ross Stores presently has a consensus rating of Moderate Buy and a consensus price target of $102.22.

Ross Stores Price Performance

ROST opened at $90.25 on Friday. The company’s 50 day simple moving average is $85.46 and its 200 day simple moving average is $87.49. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.17 and a current ratio of 1.92. Ross Stores has a 1 year low of $69.24 and a 1 year high of $123.36. The stock has a market capitalization of $31.32 billion, a PE ratio of 21.44, a P/E/G ratio of 2.24 and a beta of 1.00.

Ross Stores (NASDAQ:ROSTGet Rating) last released its earnings results on Thursday, August 18th. The apparel retailer reported $1.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.03 by $0.08. Ross Stores had a net margin of 7.97% and a return on equity of 36.36%. The business had revenue of $4.58 billion for the quarter, compared to analysts’ expectations of $4.62 billion. During the same period last year, the company earned $1.39 earnings per share. The company’s quarterly revenue was down 4.6% on a year-over-year basis. As a group, sell-side analysts expect that Ross Stores will post 3.99 EPS for the current year.

Ross Stores Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Investors of record on Tuesday, September 6th will be paid a $0.31 dividend. The ex-dividend date is Friday, September 2nd. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.37%. Ross Stores’s dividend payout ratio (DPR) is presently 29.45%.

Institutional Trading of Ross Stores

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Oliver Lagore Vanvalin Investment Group bought a new stake in shares of Ross Stores in the first quarter worth $28,000. Riverview Trust Co bought a new stake in shares of Ross Stores in the first quarter worth $31,000. CVA Family Office LLC increased its stake in shares of Ross Stores by 1,466.7% in the second quarter. CVA Family Office LLC now owns 470 shares of the apparel retailer’s stock worth $33,000 after buying an additional 440 shares during the last quarter. CoreCap Advisors LLC bought a new stake in shares of Ross Stores in the second quarter worth $34,000. Finally, Venture Visionary Partners LLC bought a new stake in Ross Stores during the second quarter valued at $36,000. Institutional investors own 87.65% of the company’s stock.

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 brand names. 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 for households with moderate income.

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Analyst Recommendations for Ross Stores (NASDAQ:ROST)

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