Ross Stores (NASDAQ:ROST) Downgraded by StockNews.com to Hold (2024)

Posted by Defense World Staff on Jun 25th, 2024

StockNews.com lowered shares of Ross Stores (NASDAQ:ROST – Free Report) from a buy rating to a hold rating in a research report report published on Monday morning.

Several other equities research analysts have also recently commented on the company. Morgan Stanley boosted their price target on Ross Stores from $159.00 to $161.00 and gave the company an overweight rating in a research note on Friday, May 24th. Loop Capital boosted their price target on Ross Stores from $150.00 to $170.00 and gave the company a buy rating in a research note on Wednesday, March 6th. Telsey Advisory Group reissued a market perform rating and issued a $160.00 price target on shares of Ross Stores in a research note on Friday, June 14th. Citigroup upped their target price on Ross Stores from $147.00 to $172.00 and gave the stock a buy rating in a research report on Wednesday, March 6th. Finally, UBS Group upped their target price on Ross Stores from $145.00 to $147.00 and gave the stock a neutral rating in a research report on Friday, May 24th. Five research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, Ross Stores has a consensus rating of Moderate Buy and a consensus target price of $156.58.

Get Our Latest Analysis on ROST

Ross Stores Trading Down 0.0 %

NASDAQ:ROST opened at $149.25 on Monday. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.54 and a quick ratio of 1.03. Ross Stores has a fifty-two week low of $107.30 and a fifty-two week high of $151.12. The stock’s 50-day moving average is $137.54 and its two-hundred day moving average is $140.10. The stock has a market cap of $49.79 billion, a PE ratio of 25.17, a price-to-earnings-growth ratio of 2.58 and a beta of 1.08.

Ross Stores (NASDAQ:ROST – Get Free Report) last announced its quarterly earnings results on Thursday, May 23rd. The apparel retailer reported $1.46 EPS for the quarter, beating the consensus estimate of $1.35 by $0.11. The business had revenue of $4.86 billion during the quarter, compared to analysts’ expectations of $4.83 billion. Ross Stores had a return on equity of 42.24% and a net margin of 9.60%. The firm’s quarterly revenue was up 8.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.09 EPS. As a group, equities research analysts forecast that Ross Stores will post 5.97 earnings per share for the current fiscal year.

Ross Stores Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Tuesday, June 11th will be issued a dividend of $0.3675 per share. The ex-dividend date is Tuesday, June 11th. This represents a $1.47 dividend on an annualized basis and a dividend yield of 0.98%. Ross Stores’s dividend payout ratio (DPR) is presently 24.79%.

Ross Stores declared that its Board of Directors has approved a share repurchase plan on Tuesday, March 5th that permits the company to repurchase $2.10 billion in shares. This repurchase authorization permits the apparel retailer to purchase up to 4.3% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s management believes its stock is undervalued.

Insider Activity at Ross Stores

In related news, Director Patricia H. Mueller sold 941 shares of the company’s stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $138.37, for a total value of $130,206.17. Following the completion of the transaction, the director now directly owns 973 shares in the company, valued at $134,634.01. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Larree M. Renda sold 4,168 shares of the company’s stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $147.89, for a total value of $616,405.52. Following the completion of the transaction, the director now directly owns 3,166 shares in the company, valued at $468,219.74. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Patricia H. Mueller sold 941 shares of the company’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $138.37, for a total value of $130,206.17. Following the completion of the transaction, the director now owns 973 shares of the company’s stock, valued at $134,634.01. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 48,717 shares of company stock worth $7,141,031. 2.10% of the stock is owned by corporate insiders.

Institutional Trading of Ross Stores

A number of large investors have recently bought and sold shares of the stock. EverSource Wealth Advisors LLC grew its position in Ross Stores by 9.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 888 shares of the apparel retailer’s stock valued at $123,000 after acquiring an additional 73 shares during the period. Raleigh Capital Management Inc. grew its position in Ross Stores by 41.8% in the fourth quarter. Raleigh Capital Management Inc. now owns 251 shares of the apparel retailer’s stock valued at $35,000 after acquiring an additional 74 shares during the period. Massmutual Trust Co. FSB ADV grew its position in Ross Stores by 9.0% in the fourth quarter. Massmutual Trust Co. FSB ADV now owns 919 shares of the apparel retailer’s stock valued at $127,000 after acquiring an additional 76 shares during the period. Greenleaf Trust grew its holdings in shares of Ross Stores by 1.6% during the fourth quarter. Greenleaf Trust now owns 5,133 shares of the apparel retailer’s stock worth $710,000 after purchasing an additional 80 shares during the last quarter. Finally, Geneos Wealth Management Inc. grew its holdings in shares of Ross Stores by 52.9% during the fourth quarter. Geneos Wealth Management Inc. now owns 240 shares of the apparel retailer’s stock worth $33,000 after purchasing an additional 83 shares during the last quarter. 86.86% of the stock is currently owned by institutional investors.

About Ross Stores

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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 brand names in the United States. Its stores primarily offer apparel, accessories, footwear, and home fashions. The company's Ross Dress for Less stores sell its products at department and specialty stores to middle income households; and dd's DISCOUNTS stores sell its products at department and discount stores for households with moderate income.