Northcoast Research reiterated their neutral rating on shares of Ross Stores (NASDAQ:ROST) in a report released on Wednesday. Northcoast Research also issued estimates for Ross Stores’ Q1 2019 earnings at $1.05 EPS, Q2 2019 earnings at $1.00 EPS, Q3 2019 earnings at $0.88 EPS, Q4 2019 earnings at $1.09 EPS, FY2019 earnings at $4.03 EPS, Q1 2020 earnings at $1.13 EPS, Q2 2020 earnings at $1.08 EPS, Q3 2020 earnings at $0.94 EPS, Q4 2020 earnings at $1.17 EPS and FY2020 earnings at $4.32 EPS.
ROST has been the subject of several other research reports. BMO Capital Markets boosted their price target on Ross Stores from $65.00 to $71.00 and gave the stock a market perform rating in a research note on Friday, November 17th. Jefferies Group restated a hold rating and issued a $73.00 price target on shares of Ross Stores in a research note on Wednesday. SunTrust Banks restated a buy rating on shares of Ross Stores in a research note on Friday, February 2nd. Morgan Stanley boosted their price target on Ross Stores from $89.00 to $94.00 and gave the stock an overweight rating in a research note on Wednesday. Finally, Nomura restated a buy rating and issued a $90.00 price target (up previously from $80.00) on shares of Ross Stores in a research note on Wednesday, January 17th. Nine analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of Buy and an average price target of $80.86.
Ross Stores (ROST) opened at $77.01 on Wednesday. Ross Stores has a one year low of $52.85 and a one year high of $85.66. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.68 and a current ratio of 1.64. The stock has a market capitalization of $29,429.06, a price-to-earnings ratio of 21.69, a price-to-earnings-growth ratio of 1.91 and a beta of 1.09.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 30th. Investors of record on Monday, March 19th will be given a dividend of $0.225 per share. This represents a $0.90 dividend on an annualized basis and a yield of 1.17%. The ex-dividend date of this dividend is Friday, March 16th. This is a boost from Ross Stores’s previous quarterly dividend of $0.16. Ross Stores’s dividend payout ratio is 18.03%.
Ross Stores announced that its board has approved a share repurchase plan on Tuesday, March 6th that permits the company to buyback $200.00 million in shares. This buyback authorization permits the apparel retailer to reacquire shares of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board believes its shares are undervalued.
Institutional investors have recently bought and sold shares of the stock. Cerebellum GP LLC purchased a new stake in Ross Stores during the fourth quarter valued at $132,000. Sit Investment Associates Inc. increased its position in Ross Stores by 255.1% during the fourth quarter. Sit Investment Associates Inc. now owns 1,900 shares of the apparel retailer’s stock valued at $152,000 after acquiring an additional 1,365 shares during the last quarter. Harvest Fund Management Co. Ltd purchased a new stake in Ross Stores during the fourth quarter valued at $159,000. Financial Gravity Companies Inc. bought a new stake in Ross Stores during the fourth quarter valued at about $164,000. Finally, Zions Bancorporation grew its holdings in Ross Stores by 338.9% during the third quarter. Zions Bancorporation now owns 2,120 shares of the apparel retailer’s stock valued at $137,000 after purchasing an additional 1,637 shares during the period. Institutional investors own 88.60% of the company’s stock.
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Ross Stores Company Profile
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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