UBS Group Boosts Ross Stores (NASDAQ:ROST) Price Target to $145.00

Ross Stores (NASDAQ:ROSTFree Report) had its price target boosted by UBS Group from $142.00 to $145.00 in a report released on Wednesday, Benzinga reports. The brokerage currently has a neutral rating on the apparel retailer’s stock.

Several other equities analysts have also recently commented on the stock. BMO Capital Markets increased their price target on shares of Ross Stores from $138.00 to $165.00 and gave the stock an outperform rating in a research report on Wednesday. The Goldman Sachs Group raised their target price on shares of Ross Stores from $143.00 to $163.00 and gave the stock a buy rating in a report on Wednesday. JPMorgan Chase & Co. raised their price target on shares of Ross Stores from $150.00 to $163.00 and gave the company an overweight rating in a research note on Wednesday. Jefferies Financial Group raised their price target on shares of Ross Stores from $135.00 to $147.00 and gave the company a hold rating in a research note on Wednesday. Finally, Citigroup raised their price target on shares of Ross Stores from $147.00 to $172.00 and gave the company a buy rating in a research note on Wednesday. Four investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat.com, Ross Stores presently has an average rating of Moderate Buy and a consensus target price of $155.21.

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Ross Stores Stock Performance

NASDAQ:ROST opened at $145.74 on Wednesday. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.77 and a quick ratio of 1.11. The firm has a 50-day moving average of $142.28 and a two-hundred day moving average of $129.37. The stock has a market cap of $49.07 billion, a P/E ratio of 26.21, a PEG ratio of 2.12 and a beta of 1.04. Ross Stores has a 1-year low of $99.00 and a 1-year high of $151.12.

Ross Stores (NASDAQ:ROSTGet Free Report) last posted its quarterly earnings data on Tuesday, March 5th. The apparel retailer reported $1.82 earnings per share for the quarter, beating analysts’ consensus estimates of $1.63 by $0.19. The company had revenue of $6.02 billion during the quarter, compared to analysts’ expectations of $5.81 billion. Ross Stores had a net margin of 9.20% and a return on equity of 41.15%. The firm’s revenue for the quarter was up 15.5% on a year-over-year basis. During the same period in the prior year, the company posted $1.31 EPS. On average, research analysts expect that Ross Stores will post 5.85 earnings per share for the current fiscal year.

Ross Stores Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 29th. Investors of record on Friday, March 15th will be issued a $0.3675 dividend. This represents a $1.47 annualized dividend and a yield of 1.01%. The ex-dividend date is Thursday, March 14th. This is an increase from Ross Stores’s previous quarterly dividend of $0.34. Ross Stores’s dividend payout ratio (DPR) is 24.10%.

Ross Stores declared that its Board of Directors has approved a stock repurchase program on Tuesday, March 5th that permits the company to repurchase $2.10 billion in outstanding shares. This repurchase authorization permits the apparel retailer to buy up to 4.3% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of ROST. Fairfield Bush & CO. bought a new position in Ross Stores in the 1st quarter worth $87,000. Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of Ross Stores during the 1st quarter worth about $200,000. Cibc World Market Inc. increased its holdings in shares of Ross Stores by 5.7% during the 1st quarter. Cibc World Market Inc. now owns 20,004 shares of the apparel retailer’s stock worth $1,810,000 after purchasing an additional 1,085 shares during the period. Vontobel Holding Ltd. boosted its position in shares of Ross Stores by 27.4% during the 1st quarter. Vontobel Holding Ltd. now owns 12,174 shares of the apparel retailer’s stock valued at $1,128,000 after acquiring an additional 2,615 shares in the last quarter. Finally, Sei Investments Co. boosted its position in shares of Ross Stores by 0.9% during the 1st quarter. Sei Investments Co. now owns 163,788 shares of the apparel retailer’s stock valued at $14,826,000 after acquiring an additional 1,470 shares in the last quarter. Institutional investors own 84.79% of the company’s stock.

Ross Stores Company Profile

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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 primarily to middle income households; and dd's DISCOUNTS stores sell its products at department and discount stores for households with moderate income.

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Analyst Recommendations for Ross Stores (NASDAQ:ROST)

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