Ross Stores (NASDAQ:ROST – Get Free Report) was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued to investors on Monday.
Other research analysts have also recently issued research reports about the stock. Barclays upped their target price on shares of Ross Stores from $163.00 to $165.00 and gave the company an “overweight” rating in a research report on Friday, May 24th. Wells Fargo & Company upped their price objective on shares of Ross Stores from $150.00 to $160.00 and gave the stock an “overweight” rating in a report on Friday, May 24th. Citigroup upped their price objective on shares of Ross Stores from $147.00 to $172.00 and gave the stock a “buy” rating in a report on Wednesday, March 6th. TD Cowen upped their price objective on shares of Ross Stores from $173.00 to $176.00 and gave the stock a “buy” rating in a report on Friday, May 24th. Finally, BMO Capital Markets upped their price objective on shares of Ross Stores from $138.00 to $165.00 and gave the stock an “outperform” rating in a report on Wednesday, March 6th. Five analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Ross Stores has a consensus rating of “Moderate Buy” and an average price target of $156.58.
Ross Stores Price Performance
Shares of NASDAQ:ROST traded down $0.04 during trading on Monday, reaching $149.25. 1,655,567 shares of the company’s stock traded hands, compared to its average volume of 2,278,756. The company has a quick ratio of 1.03, a current ratio of 1.54 and a debt-to-equity ratio of 0.31. The firm has a market cap of $49.79 billion, a PE ratio of 25.17, a P/E/G ratio of 2.58 and a beta of 1.08. The company has a 50-day simple moving average of $137.54 and a 200-day simple moving average of $140.10. Ross Stores has a fifty-two week low of $107.30 and a fifty-two week high of $151.12.
Ross Stores (NASDAQ:ROST – Get Free Report) last released its quarterly earnings data on Thursday, May 23rd. The apparel retailer reported $1.46 EPS for the quarter, beating analysts’ consensus estimates of $1.35 by $0.11. Ross Stores had a return on equity of 42.24% and a net margin of 9.60%. The firm had revenue of $4.86 billion for the quarter, compared to analysts’ expectations of $4.83 billion. During the same period in the prior year, the firm posted $1.09 earnings per share. The firm’s quarterly revenue was up 8.1% on a year-over-year basis. As a group, analysts predict that Ross Stores will post 5.97 earnings per share for the current year.
Ross Stores announced that its Board of Directors has approved a share buyback plan on Tuesday, March 5th that permits the company to repurchase $2.10 billion in outstanding shares. This repurchase authorization permits the apparel retailer to repurchase up to 4.3% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its stock is undervalued.
Insider Buying and Selling at Ross Stores
In related news, Director Patricia H. Mueller sold 941 shares of the stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $138.37, for a total value of $130,206.17. Following the transaction, the director now directly owns 973 shares of the company’s stock, valued at approximately $134,634.01. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, Director Patricia H. Mueller sold 941 shares of the stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $138.37, for a total value of $130,206.17. Following the transaction, the director now directly owns 973 shares of the company’s stock, valued at approximately $134,634.01. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Larree M. Renda sold 4,168 shares of the stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $147.89, for a total transaction of $616,405.52. Following the completion of the transaction, the director now directly owns 3,166 shares in the company, valued at $468,219.74. The disclosure for this sale can be found here. In the last three months, insiders have sold 48,717 shares of company stock valued at $7,141,031. Insiders own 2.10% of the company’s stock.
Institutional Trading of Ross Stores
Large investors have recently bought and sold shares of the business. Riverview Trust Co acquired a new stake in Ross Stores during the 1st quarter worth $26,000. Rise Advisors LLC acquired a new stake in shares of Ross Stores in the first quarter valued at about $27,000. Geneos Wealth Management Inc. boosted its holdings in Ross Stores by 52.9% during the fourth quarter. Geneos Wealth Management Inc. now owns 240 shares of the apparel retailer’s stock worth $33,000 after buying an additional 83 shares in the last quarter. Raleigh Capital Management Inc. grew its position in Ross Stores by 41.8% during the fourth quarter. Raleigh Capital Management Inc. now owns 251 shares of the apparel retailer’s stock worth $35,000 after buying an additional 74 shares during the period. Finally, EntryPoint Capital LLC increased its holdings in Ross Stores by 154.5% in the first quarter. EntryPoint Capital LLC now owns 308 shares of the apparel retailer’s stock valued at $45,000 after buying an additional 187 shares in 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.