Ross Stores (NASDAQ:ROST) Upgraded at StockNews.com

Ross Stores (NASDAQ:ROST) was upgraded by research analysts at StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Saturday.

Several other equities analysts also recently issued reports on the stock. Barclays raised their price target on shares of Ross Stores from $165.00 to $175.00 and gave the company an “overweight” rating in a research note on Friday, August 23rd. Morgan Stanley upped their price target on Ross Stores from $163.00 to $178.00 and gave the company an “overweight” rating in a research report on Friday, August 23rd. Loop Capital lifted their price objective on Ross Stores from $170.00 to $190.00 and gave the stock a “buy” rating in a research note on Friday, August 23rd. Robert W. Baird raised their price target on shares of Ross Stores from $162.00 to $180.00 and gave the stock an “outperform” rating in a report on Friday, August 23rd. Finally, Evercore ISI upped their price target on shares of Ross Stores from $155.00 to $165.00 and gave the company an “outperform” rating in a research report on Friday, May 24th. Three analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $169.71.

Ross Stores Price Performance

Ross Stores stock opened at $155.25 on Friday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.05 and a current ratio of 1.56. Ross Stores has a 52 week low of $108.35 and a 52 week high of $163.60. The stock has a market capitalization of $51.51 billion, a P/E ratio of 26.18, a price-to-earnings-growth ratio of 2.48 and a beta of 1.09. The stock has a fifty day moving average of $146.85 and a 200-day moving average of $142.94.

Ross Stores (NASDAQ:ROST) last issued its earnings results on Thursday, August 22nd. The apparel retailer reported $1.59 earnings per share for the quarter, beating analysts’ consensus estimates of $1.50 by $0.09. The firm had revenue of $5.29 billion for the quarter, compared to analyst estimates of $5.25 billion. Ross Stores had a net margin of 9.82% and a return on equity of 42.43%. The company’s quarterly revenue was up 7.1% on a year-over-year basis. During the same quarter last year, the business posted $1.32 earnings per share. On average, sell-side analysts expect that Ross Stores will post 6.2 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Barbara Rentler sold 48,885 shares of the company’s stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $153.93, for a total value of $7,524,868.05. Following the transaction, the chief executive officer now directly owns 311,853 shares in the company, valued at $48,003,532.29. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, CEO Barbara Rentler sold 48,885 shares of the company’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $153.93, for a total value of $7,524,868.05. Following the completion of the sale, the chief executive officer now owns 311,853 shares of the company’s stock, valued at approximately $48,003,532.29. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Michael Balmuth sold 14,887 shares of the firm’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $152.22, for a total value of $2,266,099.14. Following the transaction, the chairman now directly owns 11,133 shares in the company, valued at $1,694,665.26. The disclosure for this sale can be found here. 2.10% of the stock is owned by company insiders.

Institutional Investors Weigh In On Ross Stores

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Riverview Trust Co purchased a new stake in Ross Stores in the first quarter worth $26,000. Rise Advisors LLC purchased a new stake in shares of Ross Stores in the 1st quarter worth approximately $27,000. SJS Investment Consulting Inc. increased its position in Ross Stores by 262.1% during the 2nd quarter. SJS Investment Consulting Inc. now owns 210 shares of the apparel retailer’s stock valued at $31,000 after buying an additional 152 shares in the last quarter. Industrial Alliance Investment Management Inc. bought a new stake in Ross Stores in the second quarter worth $32,000. Finally, Raleigh Capital Management Inc. increased its holdings in shares of Ross Stores by 41.8% during the fourth quarter. Raleigh Capital Management Inc. now owns 251 shares of the apparel retailer’s stock valued at $35,000 after acquiring an additional 74 shares in the last quarter. 86.86% of the stock is currently owned by institutional investors.

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 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.