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.
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.
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