Ross Stores (NASDAQ:ROST) Reaches New 1-Year High – Time to Buy?
by Sarita Garza · The Markets DailyRoss Stores, Inc. (NASDAQ:ROST – Get Free Report)’s share price hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $217.51 and last traded at $216.8870, with a volume of 177388 shares changing hands. The stock had previously closed at $216.03.
Analyst Upgrades and Downgrades
A number of equities analysts recently commented on ROST shares. Telsey Advisory Group upgraded Ross Stores from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $220.00 to $240.00 in a research note on Wednesday, March 4th. Barclays increased their target price on Ross Stores from $205.00 to $221.00 and gave the stock an “overweight” rating in a report on Monday, March 2nd. Guggenheim boosted their price target on Ross Stores from $199.00 to $226.00 and gave the company a “buy” rating in a report on Wednesday, March 4th. Zacks Research lowered Ross Stores from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 2nd. Finally, JPMorgan Chase & Co. raised their price objective on Ross Stores from $215.00 to $232.00 and gave the stock an “overweight” rating in a research note on Monday, February 23rd. Sixteen equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $208.29.
Check Out Our Latest Analysis on Ross Stores
Ross Stores Stock Up 0.1%
The company has a debt-to-equity ratio of 0.16, a current ratio of 1.58 and a quick ratio of 1.04. The stock’s fifty day simple moving average is $199.75 and its 200-day simple moving average is $177.84. The stock has a market cap of $69.91 billion, a P/E ratio of 32.63, a PEG ratio of 2.99 and a beta of 0.97.
Ross Stores (NASDAQ:ROST – Get Free Report) last posted its earnings results on Tuesday, March 3rd. The apparel retailer reported $2.00 EPS for the quarter, beating the consensus estimate of $1.90 by $0.10. The company had revenue of $6.64 billion during the quarter, compared to analyst estimates of $6.42 billion. Ross Stores had a return on equity of 36.70% and a net margin of 9.43%.The business’s revenue was up 12.2% compared to the same quarter last year. During the same period in the prior year, the company earned $1.65 earnings per share. On average, research analysts anticipate that Ross Stores, Inc. will post 6.17 earnings per share for the current year.
Ross Stores Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Friday, March 13th will be given a $0.445 dividend. This is a boost from Ross Stores’s previous quarterly dividend of $0.41. This represents a $1.78 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend is Friday, March 13th. Ross Stores’s dividend payout ratio is 26.93%.
Insiders Place Their Bets
In other news, CMO Karen Sykes sold 2,556 shares of the business’s stock in a transaction on Tuesday, March 10th. The shares were sold at an average price of $213.91, for a total transaction of $546,753.96. Following the completion of the transaction, the chief marketing officer owned 103,945 shares of the company’s stock, valued at approximately $22,234,874.95. The trade was a 2.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Patricia H. Mueller sold 1,881 shares of the company’s stock in a transaction dated Tuesday, March 10th. The stock was sold at an average price of $213.13, for a total transaction of $400,897.53. Following the transaction, the director owned 2,159 shares of the company’s stock, valued at $460,147.67. This represents a 46.56% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 2.20% of the company’s stock.
Institutional Investors Weigh In On Ross Stores
Large investors have recently made changes to their positions in the company. J. Derek Lewis & Associates Inc. bought a new stake in shares of Ross Stores during the fourth quarter valued at approximately $411,000. Rockefeller Capital Management L.P. grew its holdings in Ross Stores by 39.5% in the 4th quarter. Rockefeller Capital Management L.P. now owns 46,918 shares of the apparel retailer’s stock worth $8,452,000 after buying an additional 13,273 shares in the last quarter. World Investment Advisors bought a new position in Ross Stores in the 4th quarter worth approximately $250,000. Meadowbrook Advisors Group LLC acquired a new stake in Ross Stores in the 4th quarter valued at approximately $2,253,000. Finally, Hsbc Holdings PLC raised its stake in Ross Stores by 1.5% during the 4th quarter. Hsbc Holdings PLC now owns 673,254 shares of the apparel retailer’s stock valued at $121,398,000 after acquiring an additional 10,175 shares in the last quarter. Institutional investors and hedge funds own 86.86% of the company’s stock.
About Ross Stores
Ross Stores, Inc (NASDAQ: ROST) is an American off‑price retailer headquartered in Dublin, California, that operates the Ross Dress for Less and dd’s DISCOUNTS store formats. The company sells a broad assortment of apparel, footwear, home fashions, accessories and other soft goods, positioning itself as a value-oriented destination for brand‑name and fashion merchandise at reduced prices.
Ross’s business model centers on opportunistic buying of excess inventory, closeouts, cancelled orders and overstocks from manufacturers, department stores and other suppliers.