Ross Stores Inc. (ROST) Lifted to “Buy” at Vetr Inc.

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Ross Stores Inc. (NASDAQ:ROST) was upgraded by analysts at Vetr from a “hold” rating to a “buy” rating in a report issued on Monday. The firm currently has a $65.00 price objective on the apparel retailer’s stock. Vetr‘s target price suggests a potential upside of 6.94% from the stock’s previous close.
Other equities research analysts have also recently issued research reports about the company. Deutsche Bank AG reaffirmed a “buy” rating on shares of Ross Stores in a research note on Sunday, May 22nd. Citigroup Inc. reissued a “buy” rating and issued a $65.00 price objective on shares of Ross Stores in a research note on Tuesday, May 17th. Cowen and Company reissued a “buy” rating on shares of Ross Stores in a research note on Sunday, May 22nd. Bank of America Corp. reissued a “buy” rating on shares of Ross Stores in a research note on Sunday, May 22nd. Finally, Miller Tabak started coverage on Ross Stores in a research note on Friday, June 24th. They issued a “buy” rating and a $66.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and fifteen have assigned a buy rating to the company. Ross Stores has an average rating of “Buy” and a consensus target price of $64.87.
Ross Stores (NASDAQ:ROST) traded down 3.09% during midday trading on Monday, reaching $60.78. The company had a trading volume of 3,021,015 shares. The firm has a market capitalization of $24.10 billion, a price-to-earnings ratio of 23.14 and a beta of 0.84. Ross Stores has a 12-month low of $43.47 and a 12-month high of $66.28. The stock’s 50 day moving average is $62.27 and its 200 day moving average is $57.83.

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Ross Stores (NASDAQ:ROST) last released its earnings results on Thursday, August 18th. The apparel retailer reported $0.71 EPS for the quarter, topping the consensus estimate of $0.67 by $0.04. Ross Stores had a return on equity of 42.01% and a net margin of 8.55%. The business earned $3.18 billion during the quarter, compared to analysts’ expectations of $3.13 billion. During the same quarter last year, the firm posted $0.63 earnings per share. The firm’s revenue was up 7.2% on a year-over-year basis. Equities research analysts expect that Ross Stores will post $2.75 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 30th. Stockholders of record on Friday, September 2nd will be issued a $0.135 dividend. This represents a $0.54 dividend on an annualized basis and a dividend yield of 0.89%. The ex-dividend date is Wednesday, August 31st. Ross Stores’s payout ratio is currently 20.53%.
In other news, Director George Orban sold 56,000 shares of the company’s stock in a transaction dated Friday, July 8th. The stock was sold at an average price of $57.52, for a total value of $3,221,120.00. Following the completion of the transaction, the director now directly owns 506,750 shares in the company, valued at approximately $29,148,260. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 2.40% of the stock is owned by insiders.
Several large investors recently added to or reduced their stakes in the stock. Alecta Pensionsforsakring Omsesidigt bought a new stake in Ross Stores during the first quarter worth $276,472,000. Norges Bank bought a new stake in Ross Stores during the fourth quarter worth $158,922,000. JPMorgan Chase & Co. raised its position in Ross Stores by 32.9% in the first quarter. JPMorgan Chase & Co. now owns 6,358,644 shares of the apparel retailer’s stock worth $368,167,000 after buying an additional 1,575,465 shares during the last quarter. American Century Companies Inc. raised its position in Ross Stores by 62.4% in the second quarter. American Century Companies Inc. now owns 3,108,460 shares of the apparel retailer’s stock worth $176,219,000 after buying an additional 1,193,928 shares during the last quarter. Finally, Dividend Assets Capital LLC raised its position in Ross Stores by 11,841.5% in the second quarter. Dividend Assets Capital LLC now owns 892,030 shares of the apparel retailer’s stock worth $50,569,000 after buying an additional 884,560 shares during the last quarter. 89.99% of the stock is owned by institutional investors.
About Ross Stores
Ross Stores, Inc is an off-price retailer of name brand and designer apparel, accessories, footwear, and home fashions for the entire family. The Company operates two brands of off-price retail apparel and home fashion stores, Ross Dress for Less (Ross) and dd’s DISCOUNTS. As of December 31, 2014, the Company operated 1,210 Ross locations in 33 states, the District of Columbia and Guam, and 152 dd’s DISCOUNTS stores in 15 states.
To view Vetr’s full report, visit Vetr’s official website.

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