Ross Stores (NASDAQ:ROST) PT Raised to $175.00

Ross Stores (NASDAQ:ROST) had its target price lifted by stock analysts at Wells Fargo & Company from $160.00 to $175.00 in a report released on Friday, Benzinga reports. The brokerage currently has an “overweight” rating on the apparel retailer’s stock. Wells Fargo & Company‘s price target would suggest a potential upside of 12.75% from the company’s previous close.

A number of other research analysts have also weighed in on ROST. Loop Capital boosted their target price on shares of Ross Stores from $170.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday. Guggenheim boosted their price objective on Ross Stores from $165.00 to $170.00 and gave the stock a “buy” rating in a research report on Friday, May 24th. Robert W. Baird increased their target price on Ross Stores from $162.00 to $180.00 and gave the company an “outperform” rating in a research note on Friday. TD Cowen lifted their price target on Ross Stores from $173.00 to $185.00 and gave the stock a “buy” rating in a research report on Friday. Finally, Barclays increased their price objective on Ross Stores from $165.00 to $175.00 and gave the company an “overweight” rating in a research report on Friday. Three investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $169.71.

Ross Stores Stock Performance

ROST opened at $155.21 on Friday. The stock has a 50-day moving average of $145.40 and a 200-day moving average of $142.33. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.03 and a current ratio of 1.54. Ross Stores has a 52-week low of $108.35 and a 52-week high of $163.60. 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.

Ross Stores (NASDAQ:ROST) last announced its quarterly earnings results on Thursday, August 22nd. The apparel retailer reported $1.59 EPS for the quarter, beating the consensus estimate of $1.50 by $0.09. Ross Stores had a return on equity of 42.24% and a net margin of 9.60%. The company had revenue of $5.29 billion for the quarter, compared to the consensus estimate of $5.25 billion. During the same quarter last year, the company posted $1.32 earnings per share. The company’s revenue for the quarter was up 7.1% compared to the same quarter last year. As a group, equities research analysts forecast that Ross Stores will post 5.97 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Ross Stores news, Director Patricia H. Mueller sold 941 shares of Ross Stores stock in a transaction that occurred 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 sale, the director now directly owns 973 shares of the company’s stock, valued at $134,634.01. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 2.10% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Cetera Investment Advisers increased its position in shares of Ross Stores by 0.3% during the 2nd quarter. Cetera Investment Advisers now owns 42,306 shares of the apparel retailer’s stock worth $6,148,000 after purchasing an additional 112 shares in the last quarter. Magnolia Capital Advisors LLC bought a new stake in Ross Stores during the second quarter worth about $321,000. Creative Planning increased its holdings in shares of Ross Stores by 7.9% during the second quarter. Creative Planning now owns 58,471 shares of the apparel retailer’s stock worth $8,497,000 after buying an additional 4,286 shares in the last quarter. Algert Global LLC bought a new position in shares of Ross Stores in the second quarter valued at approximately $421,000. Finally, SkyView Investment Advisors LLC boosted its holdings in shares of Ross Stores by 17.6% in the 2nd quarter. SkyView Investment Advisors LLC now owns 17,123 shares of the apparel retailer’s stock worth $2,488,000 after acquiring an additional 2,558 shares in the last quarter. 86.86% of the stock is 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.