Ross Stores’ (ROST) Buy (B) Rating Reaffirmed at Weiss Ratings

Weiss Ratings reaffirmed their buy (b) rating on shares of Ross Stores (NASDAQ:ROST) in a research note issued to investors on Tuesday,Weiss Ratings reports.

Several other brokerages also recently weighed in on ROST. Morgan Stanley boosted their price objective on Ross Stores from $128.00 to $130.00 and gave the company an “equal weight” rating in a research report on Friday, August 22nd. JPMorgan Chase & Co. boosted their price objective on Ross Stores from $156.00 to $160.00 and gave the company an “overweight” rating in a research report on Friday, August 22nd. Barclays boosted their price objective on Ross Stores from $156.00 to $164.00 and gave the company an “overweight” rating in a research report on Friday, August 22nd. Citigroup boosted their price objective on Ross Stores from $146.00 to $171.00 and gave the company a “buy” rating in a research report on Monday. Finally, UBS Group boosted their price objective on Ross Stores from $144.00 to $147.00 and gave the company a “neutral” rating in a research report on Friday, August 22nd. Thirteen investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, Ross Stores presently has a consensus rating of “Moderate Buy” and a consensus target price of $162.33.

Ross Stores Stock Up 0.3%

Shares of ROST opened at $155.26 on Tuesday. The firm has a market cap of $50.49 billion, a P/E ratio of 24.64, a P/E/G ratio of 2.97 and a beta of 1.18. The stock has a 50 day simple moving average of $149.10 and a two-hundred day simple moving average of $141.27. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.58 and a quick ratio of 0.98. Ross Stores has a 1 year low of $122.36 and a 1 year high of $158.69.

Ross Stores (NASDAQ:ROST) last issued its earnings results on Thursday, August 21st. The apparel retailer reported $1.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.54 by $0.02. The business had revenue of $5.53 billion during the quarter, compared to analyst estimates of $5.54 billion. Ross Stores had a return on equity of 37.37% and a net margin of 9.60%.Ross Stores’s revenue for the quarter was up 4.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.59 earnings per share. On average, analysts forecast that Ross Stores will post 6.17 earnings per share for the current fiscal year.

Ross Stores Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Tuesday, September 9th were issued a dividend of $0.405 per share. This represents a $1.62 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date was Tuesday, September 9th. Ross Stores’s dividend payout ratio is currently 25.71%.

Insiders Place Their Bets

In related news, CMO Karen Fleming sold 2,932 shares of the company’s stock in a transaction that occurred on Thursday, September 25th. The stock was sold at an average price of $149.09, for a total transaction of $437,131.88. Following the completion of the transaction, the chief marketing officer owned 88,335 shares in the company, valued at $13,169,865.15. This represents a 3.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Stephen C. Brinkley sold 6,437 shares of the company’s stock in a transaction on Wednesday, October 8th. The stock was sold at an average price of $150.97, for a total value of $971,793.89. Following the completion of the sale, the insider directly owned 57,012 shares in the company, valued at approximately $8,607,101.64. The trade was a 10.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 52,720 shares of company stock worth $7,761,212 in the last ninety days. Insiders own 2.20% of the company’s stock.

Institutional Investors Weigh In On Ross Stores

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Aspect Partners LLC grew its stake in 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 purchasing an additional 146 shares during the period. Golden State Wealth Management LLC grew its stake in 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 purchasing an additional 73 shares during the period. Bayforest Capital Ltd grew its stake in 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 purchasing an additional 190 shares during the period. Banque Transatlantique SA purchased a new stake in Ross Stores in the first quarter worth $29,000. Finally, Tradewinds Capital Management LLC grew 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 acquiring an additional 75 shares during the last quarter. 86.86% of the stock is owned by hedge funds and other institutional investors.

Ross Stores Company Profile

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.