Ross Stores, Inc. (NASDAQ:ROST) – Equities research analysts at Jefferies Financial Group upped their Q2 2019 EPS estimates for Ross Stores in a research note issued on Monday, August 20th. Jefferies Financial Group analyst R. Konik now anticipates that the apparel retailer will earn $1.00 per share for the quarter, up from their prior forecast of $0.97. Jefferies Financial Group also issued estimates for Ross Stores’ FY2019 earnings at $4.07 EPS and FY2020 earnings at $4.40 EPS.
Ross Stores (NASDAQ:ROST) last released its earnings results on Thursday, May 24th. The apparel retailer reported $1.11 earnings per share for the quarter, topping the consensus estimate of $1.07 by $0.04. Ross Stores had a return on equity of 46.48% and a net margin of 10.13%. The firm had revenue of $3.59 billion during the quarter, compared to analysts’ expectations of $3.54 billion. During the same period in the prior year, the company earned $0.82 earnings per share. The company’s quarterly revenue was up 8.5% on a year-over-year basis.
Other equities research analysts have also recently issued reports about the company. BidaskClub cut Ross Stores from a “strong-buy” rating to a “buy” rating in a research note on Thursday, July 12th. Zacks Investment Research cut Ross Stores from a “buy” rating to a “hold” rating in a research note on Monday, July 23rd. Cowen set a $101.00 target price on Ross Stores and gave the stock a “buy” rating in a research note on Monday, July 30th. Citigroup upped their target price on Ross Stores from $83.00 to $89.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 31st. Finally, OTR Global assumed coverage on Ross Stores in a research note on Tuesday, May 8th. They set a “positive” rating for the company. Nine equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. Ross Stores currently has an average rating of “Buy” and a consensus price target of $89.52.
NASDAQ ROST opened at $92.89 on Tuesday. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.64 and a quick ratio of 0.74. Ross Stores has a fifty-two week low of $57.87 and a fifty-two week high of $94.11. The firm has a market cap of $34.59 billion, a price-to-earnings ratio of 27.76, a price-to-earnings-growth ratio of 2.27 and a beta of 1.07.
Several large investors have recently made changes to their positions in the company. Lucia Wealth Services LLC acquired a new stake in Ross Stores in the first quarter valued at $112,000. Well Done LLC bought a new stake in Ross Stores during the first quarter valued at $113,000. Ballew Advisors Inc bought a new stake in Ross Stores during the first quarter valued at $134,000. Summit Trail Advisors LLC boosted its position in Ross Stores by 8,064.5% during the first quarter. Summit Trail Advisors LLC now owns 139,287 shares of the apparel retailer’s stock valued at $139,000 after acquiring an additional 137,581 shares during the last quarter. Finally, NuWave Investment Management LLC boosted its position in Ross Stores by 168.7% during the second quarter. NuWave Investment Management LLC now owns 1,701 shares of the apparel retailer’s stock valued at $145,000 after acquiring an additional 1,068 shares during the last quarter. Institutional investors own 86.99% of the company’s stock.
In other news, Chairman Michael Balmuth sold 33,999 shares of the company’s stock in a transaction on Thursday, May 31st. The shares were sold at an average price of $79.10, for a total transaction of $2,689,320.90. Following the completion of the transaction, the chairman now directly owns 78,342 shares in the company, valued at $6,196,852.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Barbara Rentler sold 25,000 shares of the company’s stock in a transaction on Friday, June 8th. The stock was sold at an average price of $85.45, for a total transaction of $2,136,250.00. Following the transaction, the chief executive officer now owns 475,736 shares of the company’s stock, valued at $40,651,641.20. The disclosure for this sale can be found here. Insiders have sold 236,268 shares of company stock valued at $20,170,488 over the last quarter. Company insiders own 2.40% of the company’s stock.
Ross Stores Company Profile
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 in the United States. It 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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