Ross Stores’ (ROST) Buy Rating Reiterated at Nomura

Nomura restated their buy rating on shares of Ross Stores (NASDAQ:ROST) in a report published on Wednesday morning, MarketBeat Ratings reports. Nomura currently has a $90.00 target price on the apparel retailer’s stock, up from their prior target price of $80.00.

ROST has been the subject of several other reports. Morgan Stanley increased their price target on Ross Stores from $70.00 to $77.00 and gave the stock an overweight rating in a report on Friday, November 17th. Telsey Advisory Group increased their price objective on Ross Stores from $70.00 to $75.00 and gave the stock an outperform rating in a research report on Friday, November 17th. BidaskClub upgraded Ross Stores from a hold rating to a buy rating in a research report on Wednesday, December 27th. Jefferies Group set a $66.00 price objective on Ross Stores and gave the stock a hold rating in a research report on Saturday, November 18th. Finally, Royal Bank of Canada set a $62.00 price objective on Ross Stores and gave the stock a hold rating in a research report on Monday, October 30th. Ten research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. The company currently has a consensus rating of Buy and a consensus target price of $74.19.

Shares of Ross Stores (ROST) traded up $2.11 during midday trading on Wednesday, hitting $83.76. The company had a trading volume of 2,487,923 shares, compared to its average volume of 1,820,233. The company has a current ratio of 1.57, a quick ratio of 0.68 and a debt-to-equity ratio of 0.14. Ross Stores has a 52-week low of $52.85 and a 52-week high of $84.26. The firm has a market capitalization of $31,202.22, a P/E ratio of 26.76, a PEG ratio of 2.48 and a beta of 1.15.

Ross Stores (NASDAQ:ROST) last issued its quarterly earnings results on Thursday, November 16th. The apparel retailer reported $0.72 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.67 by $0.05. Ross Stores had a return on equity of 43.21% and a net margin of 8.93%. The firm had revenue of $3.33 billion during the quarter, compared to the consensus estimate of $3.26 billion. During the same period last year, the company earned $0.62 earnings per share. The company’s revenue for the quarter was up 7.8% on a year-over-year basis. research analysts expect that Ross Stores will post 3.29 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 29th. Investors of record on Friday, December 1st were given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 0.76%. The ex-dividend date was Thursday, November 30th. Ross Stores’s dividend payout ratio is presently 20.45%.

A number of institutional investors have recently bought and sold shares of ROST. Janus Henderson Group PLC increased its position in Ross Stores by 3,501.6% during the 2nd quarter. Janus Henderson Group PLC now owns 1,942,654 shares of the apparel retailer’s stock worth $112,149,000 after purchasing an additional 1,888,715 shares in the last quarter. Nordea Investment Management AB increased its position in Ross Stores by 8,982.4% during the 3rd quarter. Nordea Investment Management AB now owns 1,617,840 shares of the apparel retailer’s stock worth $104,464,000 after purchasing an additional 1,600,027 shares in the last quarter. Renaissance Technologies LLC increased its position in Ross Stores by 393.0% during the 2nd quarter. Renaissance Technologies LLC now owns 1,573,128 shares of the apparel retailer’s stock worth $90,817,000 after purchasing an additional 1,254,028 shares in the last quarter. Wells Fargo & Company MN increased its position in Ross Stores by 39.2% during the 3rd quarter. Wells Fargo & Company MN now owns 3,658,907 shares of the apparel retailer’s stock worth $236,257,000 after purchasing an additional 1,029,990 shares in the last quarter. Finally, Principal Financial Group Inc. increased its position in Ross Stores by 13.1% during the 3rd quarter. Principal Financial Group Inc. now owns 7,332,752 shares of the apparel retailer’s stock worth $473,476,000 after purchasing an additional 849,789 shares in the last quarter. Hedge funds and other institutional investors own 91.44% of the company’s stock.

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About Ross Stores

Ross Stores, Inc and its subsidiaries operate two brands of off-price retail apparel and home fashion stores-Ross Dress for Less (Ross) and dd’s DISCOUNTS. The Company is the off-price apparel and home fashion chain in the United States, with 1,340 locations in 36 states, the District of Columbia and Guam, as of January 28, 2017.

Analyst Recommendations for Ross Stores (NASDAQ:ROST)

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