Ross Stores (NASDAQ:ROST) Upgraded at Wells Fargo & Co

Wells Fargo & Co upgraded shares of Ross Stores (NASDAQ:ROST) from an equal weight rating to an overweight rating in a research report report published on Monday, Benzinga reports. They currently have $110.00 price objective on the apparel retailer’s stock, up from their previous price objective of $100.00.

ROST has been the topic of several other research reports. Robert W. Baird reiterated a buy rating and set a $124.00 price target on shares of Ross Stores in a research note on Wednesday, March 4th. Nomura lowered their target price on shares of Ross Stores from $113.00 to $83.00 and set a neutral rating on the stock in a research note on Thursday, March 19th. BidaskClub cut shares of Ross Stores from a buy rating to a hold rating in a research note on Tuesday, March 3rd. Deutsche Bank lifted their target price on shares of Ross Stores from $124.00 to $126.00 and gave the company a buy rating in a research note on Wednesday, March 4th. Finally, BMO Capital Markets lowered their target price on shares of Ross Stores from $130.00 to $125.00 and set an outperform rating on the stock in a research note on Wednesday, March 4th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and sixteen have issued a buy rating to the company’s stock. The stock currently has a consensus rating of Buy and an average target price of $115.87.

Shares of Ross Stores stock traded down $1.69 on Monday, hitting $79.40. 4,137,498 shares of the company’s stock were exchanged, compared to its average volume of 3,070,067. The company has a 50-day simple moving average of $99.34 and a 200-day simple moving average of $109.86. The stock has a market capitalization of $31.21 billion, a PE ratio of 17.26, a PEG ratio of 2.01 and a beta of 0.88. Ross Stores has a 1 year low of $56.30 and a 1 year high of $124.16. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.59 and a current ratio of 1.27.

Ross Stores (NASDAQ:ROST) last issued its quarterly earnings results on Tuesday, March 3rd. The apparel retailer reported $1.28 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.26 by $0.02. The business had revenue of $4.41 billion for the quarter, compared to analysts’ expectations of $4.36 billion. Ross Stores had a net margin of 10.36% and a return on equity of 50.11%. The company’s revenue was up 7.5% compared to the same quarter last year. During the same quarter last year, the company posted $1.20 EPS. On average, analysts expect that Ross Stores will post 4.33 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 17th were issued a $0.285 dividend. The ex-dividend date of this dividend was Monday, March 16th. This is an increase from Ross Stores’s previous quarterly dividend of $0.26. This represents a $1.14 dividend on an annualized basis and a dividend yield of 1.44%. Ross Stores’s payout ratio is 24.89%.

Several institutional investors have recently bought and sold shares of ROST. Princeton Global Asset Management LLC bought a new stake in shares of Ross Stores in the 4th quarter worth about $25,000. Savior LLC bought a new stake in shares of Ross Stores in the 4th quarter worth about $28,000. Solstein Capital LLC bought a new stake in shares of Ross Stores in the 4th quarter worth about $29,000. Fred Alger Management LLC increased its holdings in shares of Ross Stores by 111.1% in the 4th quarter. Fred Alger Management LLC now owns 285 shares of the apparel retailer’s stock worth $33,000 after buying an additional 150 shares during the last quarter. Finally, Busey Wealth Management bought a new stake in shares of Ross Stores in the 4th quarter worth about $35,000. Hedge funds and other institutional investors own 86.20% of the company’s stock.

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 brands. Its stores primarily offers apparel, accessories, footwear, and home fashions. The company's Ross Dress for Less stores sell its products at department and specialty stores primarily to middle income households; and dd's DISCOUNTS stores sell its products at department and discount stores regular prices to customers from households with moderate income.

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Analyst Recommendations for Ross Stores (NASDAQ:ROST)

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