#2 - Ross Stores (NASDAQ:ROST)
It might seem like a strange time to be investing in retail stocks. Brick-and-mortar sales are still likely to be suppressed due to concerns over mutations in the novel coronavirus. That was the case for Ross Stores (NASDAQ: ROST) which saw store traffic decrease due to concerns over the Delta variant. And this is a sector that will be particularly impacted by supply chain concerns. Many industry experts are saying this holiday season may be unlike anything consumers are used to if they haven’t bought early.
With that said, ROST stock is trading at the low end of its 52-week range. And even though the overall outlook of analysts is mixed since the company’s last earnings report, the overall expectation is for ROST stock price to grow 26% in the next 12 months. That’s a good reason for buy-and-hold investors to consider the stock. Another good reason is that Ross Stores is that company has reinstated its dividend that it suspended at the onset of the pandemic. Prior to the suspension, Ross Stores had joined the ranks of the dividend aristocrats. Investors should note that the dividend was reinstated at its pre-pandemic level.
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.
Read More - Current Price
- $146.09
- Consensus Rating
- Moderate Buy
- Ratings Breakdown
- 13 Buy Ratings, 4 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $171.69 (17.5% Upside)
