Ross Stores (NASDAQ:ROST) Downgraded by StockNews.com to “Hold”

StockNews.com downgraded shares of Ross Stores (NASDAQ:ROST) from a buy rating to a hold rating in a research report sent to investors on Tuesday.

Other research analysts have also issued research reports about the stock. TD Cowen dropped their price target on shares of Ross Stores from $185.00 to $177.00 and set a “buy” rating for the company in a research report on Tuesday. Bank of America raised their target price on Ross Stores from $170.00 to $180.00 and gave the stock a “buy” rating in a research report on Friday, August 23rd. Barclays upped their price target on Ross Stores from $165.00 to $175.00 and gave the company an “overweight” rating in a research report on Friday, August 23rd. Loop Capital boosted their target price on shares of Ross Stores from $170.00 to $190.00 and gave the company a “buy” rating in a research note on Friday, August 23rd. Finally, Morgan Stanley increased their target price on shares of Ross Stores from $163.00 to $178.00 and gave the stock an “overweight” rating in a research report on Friday, August 23rd. Five investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Ross Stores presently has a consensus rating of “Moderate Buy” and an average target price of $169.50.

Ross Stores Trading Down 1.4 %

Ross Stores stock opened at $139.26 on Tuesday. The business has a 50 day moving average price of $145.76 and a two-hundred day moving average price of $144.48. The company has a quick ratio of 1.05, a current ratio of 1.56 and a debt-to-equity ratio of 0.30. Ross Stores has a 12 month low of $127.53 and a 12 month high of $163.60. The stock has a market cap of $46.20 billion, a price-to-earnings ratio of 22.46, a price-to-earnings-growth ratio of 2.36 and a beta of 1.09.

Ross Stores (NASDAQ:ROST) last issued its earnings results on Thursday, August 22nd. The apparel retailer reported $1.59 EPS for the quarter, beating analysts’ consensus estimates of $1.50 by $0.09. Ross Stores had a return on equity of 42.43% and a net margin of 9.82%. The business had revenue of $5.29 billion during the quarter, compared to analyst estimates of $5.25 billion. During the same period in the prior year, the company posted $1.32 earnings per share. Ross Stores’s revenue was up 7.1% on a year-over-year basis. As a group, equities analysts forecast that Ross Stores will post 6.11 EPS for the current year.

Insider Buying and Selling at Ross Stores

In other Ross Stores news, Chairman Michael Balmuth sold 14,887 shares of the firm’s stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $152.22, for a total transaction of $2,266,099.14. Following the transaction, the chairman now owns 11,133 shares in the company, valued at approximately $1,694,665.26. This trade represents a 57.21 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Michael J. Hartshorn sold 8,366 shares of the company’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $155.64, for a total value of $1,302,084.24. Following the completion of the sale, the chief operating officer now directly owns 103,049 shares of the company’s stock, valued at approximately $16,038,546.36. This trade represents a 7.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 72,138 shares of company stock worth $11,093,051. Company insiders own 2.10% of the company’s stock.

Institutional Investors Weigh In On Ross Stores

Large investors have recently bought and sold shares of the company. Intech Investment Management LLC grew its holdings in shares of Ross Stores by 36.6% in the 1st quarter. Intech Investment Management LLC now owns 3,464 shares of the apparel retailer’s stock valued at $508,000 after buying an additional 929 shares during the period. Covestor Ltd grew its stake in Ross Stores by 155.5% in the first quarter. Covestor Ltd now owns 419 shares of the apparel retailer’s stock valued at $62,000 after acquiring an additional 255 shares during the period. O Shaughnessy Asset Management LLC increased its holdings in shares of Ross Stores by 19.3% in the first quarter. O Shaughnessy Asset Management LLC now owns 30,919 shares of the apparel retailer’s stock worth $4,538,000 after acquiring an additional 4,992 shares in the last quarter. Lake Street Advisors Group LLC raised its position in shares of Ross Stores by 34.6% during the first quarter. Lake Street Advisors Group LLC now owns 2,430 shares of the apparel retailer’s stock worth $357,000 after purchasing an additional 624 shares during the period. Finally, EntryPoint Capital LLC lifted its holdings in shares of Ross Stores by 154.5% during the 1st quarter. EntryPoint Capital LLC now owns 308 shares of the apparel retailer’s stock valued at $45,000 after purchasing an additional 187 shares in the last quarter. Institutional investors 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.