Ross Stores (NASDAQ:ROST) Stock Price Expected to Rise, Barclays Analyst Says

Ross Stores (NASDAQ:ROST - Free Report) had its target price increased by Barclays from $150.00 to $157.00 in a research report released on Monday,Benzinga reports. The firm currently has an overweight rating on the apparel retailer's stock.

ROST has been the topic of a number of other research reports. StockNews.com lowered shares of Ross Stores from a "buy" rating to a "hold" rating in a research report on Tuesday, February 25th. JPMorgan Chase & Co. decreased their price target on Ross Stores from $166.00 to $161.00 and set an "overweight" rating on the stock in a research note on Monday, April 14th. Morgan Stanley reduced their target price on shares of Ross Stores from $130.00 to $128.00 and set an "equal weight" rating on the stock in a research note on Tuesday, May 6th. Citigroup raised shares of Ross Stores from a "neutral" rating to a "buy" rating and set a $146.00 price target for the company in a report on Thursday, April 3rd. Finally, Wells Fargo & Company upgraded Ross Stores from an "equal weight" rating to an "overweight" rating and increased their price target for the stock from $140.00 to $150.00 in a research report on Tuesday, April 8th. Four research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Ross Stores presently has an average rating of "Moderate Buy" and a consensus target price of $161.53.

Ross Stores Price Performance

ROST stock traded up $1.13 during trading hours on Monday, hitting $151.79. 1,011,815 shares of the stock traded hands, compared to its average volume of 2,644,224. The company has a current ratio of 1.57, a quick ratio of 0.98 and a debt-to-equity ratio of 0.29. The stock has a 50-day simple moving average of $134.76 and a 200 day simple moving average of $142.45. Ross Stores has a one year low of $122.36 and a one year high of $163.60. The company has a market cap of $49.91 billion, a P/E ratio of 23.92, a P/E/G ratio of 2.13 and a beta of 1.17.

Ross Stores (NASDAQ:ROST - Get Free Report) last released its quarterly earnings data on Tuesday, March 4th. The apparel retailer reported $1.79 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.65 by $0.14. Ross Stores had a return on equity of 41.83% and a net margin of 9.95%. The firm had revenue of $5.91 billion during the quarter, compared to analysts' expectations of $5.95 billion. Equities analysts forecast that Ross Stores will post 6.17 earnings per share for the current year.

Ross Stores Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Tuesday, March 18th were paid a $0.405 dividend. The ex-dividend date was Tuesday, March 18th. This represents a $1.62 dividend on an annualized basis and a dividend yield of 1.07%. This is an increase from Ross Stores's previous quarterly dividend of $0.37. Ross Stores's dividend payout ratio is 25.63%.

Insider Transactions at Ross Stores

In other Ross Stores news, CMO Karen Fleming sold 5,339 shares of the stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $125.73, for a total transaction of $671,272.47. Following the completion of the transaction, the chief marketing officer now owns 94,063 shares in the company, valued at approximately $11,826,540.99. This represents a 5.37% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Michael Balmuth sold 11,261 shares of the business's stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $131.60, for a total value of $1,481,947.60. Following the completion of the sale, the chairman now owns 59,790 shares in the company, valued at $7,868,364. The trade was a 15.85% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 34,398 shares of company stock worth $4,439,950. 2.20% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Ross Stores

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Larson Financial Group LLC raised its stake in Ross Stores by 152.9% in the fourth quarter. Larson Financial Group LLC now owns 177 shares of the apparel retailer's stock valued at $27,000 after buying an additional 107 shares during the period. BOK Financial Private Wealth Inc. bought a new position in Ross Stores in the 4th quarter valued at about $31,000. Golden State Wealth Management LLC raised its position in Ross Stores by 50.7% during the first quarter. Golden State Wealth Management LLC now owns 217 shares of the apparel retailer's stock valued at $28,000 after purchasing an additional 73 shares in the last quarter. ORG Partners LLC boosted its stake in Ross Stores by 434.1% in the fourth quarter. ORG Partners LLC now owns 235 shares of the apparel retailer's stock valued at $36,000 after buying an additional 191 shares in the last quarter. Finally, Bayforest Capital Ltd grew its stake in shares of Ross Stores by 372.5% during the first quarter. Bayforest Capital Ltd now owns 241 shares of the apparel retailer's stock worth $31,000 after buying an additional 190 shares during the last quarter. 86.86% of the stock is owned by institutional investors.

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 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.