Morgan Stanley Increases Ross Stores (NASDAQ:ROST) Price Target to $178.00

Ross Stores (NASDAQ:ROST) had its price objective increased by stock analysts at Morgan Stanley from $163.00 to $178.00 in a report released on Friday, Benzinga reports. The firm presently has an “overweight” rating on the apparel retailer’s stock. Morgan Stanley’s price objective would indicate a potential upside of 14.68% from the stock’s current price.

ROST has been the subject of a number of other reports. TD Cowen upped their price target on shares of Ross Stores from $173.00 to $185.00 and gave the stock a “buy” rating in a research report on Friday. Loop Capital increased their target price on Ross Stores from $170.00 to $190.00 and gave the company a “buy” rating in a research note on Friday. Guggenheim raised their target price on Ross Stores from $165.00 to $170.00 and gave the company a “buy” rating in a report on Friday, May 24th. Telsey Advisory Group upped their price target on Ross Stores from $160.00 to $175.00 and gave the stock a “market perform” rating in a report on Friday. Finally, Barclays lifted their price objective on shares of Ross Stores from $165.00 to $175.00 and gave the company an “overweight” rating in a research note on Friday. Three investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $169.71.

Ross Stores Price Performance

ROST stock opened at $155.21 on Friday. The company has a market cap of $51.77 billion, a PE ratio of 26.17, a price-to-earnings-growth ratio of 2.17 and a beta of 1.08. The company has a current ratio of 1.54, a quick ratio of 1.03 and a debt-to-equity ratio of 0.31. The stock has a 50-day moving average price of $145.40 and a two-hundred day moving average price of $142.33. Ross Stores has a 12-month low of $108.35 and a 12-month high of $163.60.

Ross Stores (NASDAQ:ROST) last issued its earnings results on Thursday, August 22nd. The apparel retailer reported $1.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.50 by $0.09. The business had revenue of $5.29 billion during the quarter, compared to analysts’ expectations of $5.25 billion. Ross Stores had a return on equity of 42.24% and a net margin of 9.60%. The company’s revenue for the quarter was up 7.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.32 EPS. As a group, research analysts predict that Ross Stores will post 5.97 EPS for the current year.

Insider Activity

In related news, Director Patricia H. Mueller sold 941 shares of the firm’s stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $138.37, for a total transaction of $130,206.17. Following the transaction, the director now directly owns 973 shares in the company, valued at $134,634.01. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 2.10% of the company’s stock.

Institutional Investors Weigh In On Ross Stores

Several institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. grew its holdings in shares of Ross Stores by 1.2% during the first quarter. Vanguard Group Inc. now owns 28,916,192 shares of the apparel retailer’s stock valued at $4,243,740,000 after purchasing an additional 346,474 shares during the last quarter. Franklin Resources Inc. grew its stake in Ross Stores by 3.4% during the 4th quarter. Franklin Resources Inc. now owns 4,931,795 shares of the apparel retailer’s stock worth $682,511,000 after buying an additional 161,202 shares during the last quarter. Wellington Management Group LLP increased its position in Ross Stores by 14.6% in the fourth quarter. Wellington Management Group LLP now owns 4,722,885 shares of the apparel retailer’s stock worth $653,600,000 after buying an additional 601,031 shares during the period. Norges Bank bought a new stake in Ross Stores in the fourth quarter valued at $523,185,000. Finally, Victory Capital Management Inc. lifted its stake in Ross Stores by 11.7% in the second quarter. Victory Capital Management Inc. now owns 3,310,364 shares of the apparel retailer’s stock valued at $481,062,000 after buying an additional 347,006 shares during the last quarter. Institutional investors and hedge funds own 86.86% of the company’s stock.

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.