Ross Stores’ (ROST) Market Perform Rating Reaffirmed at Telsey Advisory Group

Telsey Advisory Group restated their market perform rating on shares of Ross Stores (NASDAQ:ROST) in a research report released on Monday morning,Benzinga reports. The firm currently has a $150.00 target price on the apparel retailer’s stock.

ROST has been the topic of a number of other reports. Morgan Stanley lowered their price target on shares of Ross Stores from $128.00 to $126.00 and set an “equal weight” rating on the stock in a report on Friday, May 23rd. Jefferies Financial Group raised shares of Ross Stores from a “hold” rating to a “buy” rating and increased their price target for the stock from $135.00 to $150.00 in a report on Wednesday, July 2nd. Wall Street Zen downgraded shares of Ross Stores from a “buy” rating to a “hold” rating in a report on Wednesday, May 21st. Barclays lowered their price target on shares of Ross Stores from $157.00 to $156.00 and set an “overweight” rating on the stock in a report on Friday, May 23rd. Finally, Loop Capital lowered their price target on shares of Ross Stores from $175.00 to $170.00 and set a “buy” rating on the stock in a report on Friday, May 23rd. Five analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $159.06.

Ross Stores Stock Down 0.6%

NASDAQ:ROST opened at $146.06 on Monday. The firm has a market capitalization of $47.77 billion, a P/E ratio of 23.07, a PEG ratio of 2.82 and a beta of 1.11. Ross Stores has a 1-year low of $122.36 and a 1-year high of $163.60. The company’s fifty day moving average price is $135.19 and its 200-day moving average price is $137.11. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.55 and a quick ratio of 0.95.

Ross Stores (NASDAQ:ROST) last released its quarterly earnings data on Thursday, May 22nd. The apparel retailer reported $1.47 earnings per share for the quarter, topping analysts’ consensus estimates of $1.44 by $0.03. The firm had revenue of $4.98 billion for the quarter, compared to analyst estimates of $4.94 billion. Ross Stores had a net margin of 9.79% and a return on equity of 38.77%. The business’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.46 earnings per share. As a group, equities research analysts anticipate that Ross Stores will post 6.17 EPS for the current year.

Ross Stores Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Tuesday, June 10th were paid a $0.405 dividend. This represents a $1.62 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend was Tuesday, June 10th. Ross Stores’s dividend payout ratio (DPR) is currently 25.59%.

Hedge Funds Weigh In On Ross Stores

Hedge funds and other institutional investors have recently modified their holdings of the business. Aspect Partners LLC lifted its stake in shares of Ross Stores by 251.7% in the second quarter. Aspect Partners LLC now owns 204 shares of the apparel retailer’s stock worth $26,000 after buying an additional 146 shares in the last quarter. Golden State Wealth Management LLC lifted its stake in shares of Ross Stores by 50.7% in the first quarter. Golden State Wealth Management LLC now owns 217 shares of the apparel retailer’s stock worth $28,000 after buying an additional 73 shares in the last quarter. Banque Transatlantique SA purchased a new position in shares of Ross Stores in the first quarter worth about $29,000. Bayforest Capital Ltd lifted its stake in shares of Ross Stores by 372.5% in the first quarter. Bayforest Capital Ltd now owns 241 shares of the apparel retailer’s stock worth $31,000 after buying an additional 190 shares in the last quarter. Finally, Tradewinds Capital Management LLC lifted its stake in shares of Ross Stores by 36.6% in the first quarter. Tradewinds Capital Management LLC now owns 280 shares of the apparel retailer’s stock worth $36,000 after buying an additional 75 shares in the last quarter. 86.86% of the stock is owned by hedge funds and other institutional investors.

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 brand names in the United States. 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 to middle income households; and dd’s DISCOUNTS stores sell its products at department and discount stores for households with moderate income.