Analysts Set Ross Stores, Inc. (NASDAQ:ROST) PT at $169.71

Ross Stores, Inc. (NASDAQ:ROST) has earned an average rating of “Moderate Buy” from the seventeen research firms that are covering the firm, Marketbeat Ratings reports. Three analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $169.71.

Several research analysts have commented on the stock. Morgan Stanley upped their price objective on shares of Ross Stores from $163.00 to $178.00 and gave the stock an “overweight” rating in a report on Friday, August 23rd. UBS Group increased their price target on shares of Ross Stores from $147.00 to $167.00 and gave the stock a “neutral” rating in a research note on Friday, August 23rd. StockNews.com upgraded Ross Stores from a “hold” rating to a “buy” rating in a report on Saturday, September 14th. Loop Capital raised their target price on Ross Stores from $170.00 to $190.00 and gave the company a “buy” rating in a research note on Friday, August 23rd. Finally, Robert W. Baird upped their price target on Ross Stores from $162.00 to $180.00 and gave the stock an “outperform” rating in a research note on Friday, August 23rd.

Insider Buying and Selling

In related news, COO Michael J. Hartshorn sold 8,366 shares of the stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $155.64, for a total transaction of $1,302,084.24. Following the completion of the transaction, the chief operating officer now directly owns 103,049 shares of the company’s stock, valued at $16,038,546.36. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, COO Michael J. Hartshorn sold 8,366 shares of the company’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $155.64, for a total transaction of $1,302,084.24. Following the sale, the chief operating officer now owns 103,049 shares of the company’s stock, valued at $16,038,546.36. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Chairman Michael Balmuth sold 14,887 shares of the stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $152.22, for a total transaction of $2,266,099.14. Following the transaction, the chairman now owns 11,133 shares of the company’s stock, valued at approximately $1,694,665.26. The disclosure for this sale can be found here. Over the last three months, insiders have sold 72,138 shares of company stock worth $11,093,051. Corporate insiders own 2.10% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in ROST. CreativeOne Wealth LLC bought a new position in shares of Ross Stores during the 4th quarter valued at approximately $205,000. EverSource Wealth Advisors LLC increased its position in Ross Stores by 9.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 888 shares of the apparel retailer’s stock valued at $123,000 after acquiring an additional 73 shares during the last quarter. Commerce Bank increased its position in Ross Stores by 232.6% during the fourth quarter. Commerce Bank now owns 32,182 shares of the apparel retailer’s stock valued at $4,454,000 after acquiring an additional 22,506 shares during the last quarter. SageView Advisory Group LLC purchased a new stake in shares of Ross Stores in the fourth quarter valued at $278,000. Finally, Team Hewins LLC bought a new stake in shares of Ross Stores in the 4th quarter worth about $274,000. Hedge funds and other institutional investors own 86.86% of the company’s stock.

Ross Stores Price Performance

Shares of Ross Stores stock opened at $153.08 on Monday. The company’s fifty day simple moving average is $147.34 and its two-hundred day simple moving average is $143.13. Ross Stores has a 12-month low of $108.35 and a 12-month high of $163.60. The firm has a market cap of $51.06 billion, a PE ratio of 25.81, a price-to-earnings-growth ratio of 2.44 and a beta of 1.09. The company has a quick ratio of 1.05, a current ratio of 1.56 and a debt-to-equity ratio of 0.30.

Ross Stores (NASDAQ:ROST) last posted its earnings results on Thursday, August 22nd. The apparel retailer reported $1.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.50 by $0.09. Ross Stores had a return on equity of 42.43% and a net margin of 9.82%. The company had revenue of $5.29 billion for the quarter, compared to analysts’ expectations of $5.25 billion. During the same period last year, the firm earned $1.32 earnings per share. Ross Stores’s quarterly revenue was up 7.1% on a year-over-year basis. As a group, equities analysts expect that Ross Stores will post 6.2 EPS for the current year.

Ross Stores Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Tuesday, September 10th will be given a dividend of $0.3675 per share. The ex-dividend date of this dividend is Tuesday, September 10th. This represents a $1.47 dividend on an annualized basis and a dividend yield of 0.96%. Ross Stores’s payout ratio is 24.79%.

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.