Morgan Stanley Raises Ross Stores (NASDAQ:ROST) Price Target to $130.00

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Ross Stores (NASDAQ:ROST) had its price target lifted by Morgan Stanley from $113.00 to $130.00 in a research report sent to investors on Thursday, BenzingaRatingsTable reports. They currently have an overweight rating on the apparel retailer’s stock.

A number of other equities research analysts have also issued reports on the company. DA Davidson boosted their target price on Ross Stores to $113.00 and gave the stock a neutral rating in a research report on Monday, November 25th. Wells Fargo & Co lowered Ross Stores from an overweight rating to an equal weight rating and set a $125.00 price target on the stock. in a research report on Thursday, January 2nd. Telsey Advisory Group upped their price target on Ross Stores from $112.00 to $118.00 and gave the company a market perform rating in a research report on Friday, November 22nd. Guggenheim upped their price target on Ross Stores from $120.00 to $125.00 and gave the company a buy rating in a research report on Thursday, November 14th. Finally, Barclays initiated coverage on Ross Stores in a research report on Tuesday, November 12th. They set an overweight rating and a $124.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and twelve have issued a buy rating to the company. The stock currently has a consensus rating of Hold and a consensus price target of $119.27.

Shares of Ross Stores stock opened at $123.24 on Thursday. The stock’s fifty day moving average is $118.04 and its 200-day moving average is $112.16. The firm has a market capitalization of $44.23 billion, a PE ratio of 27.27, a price-to-earnings-growth ratio of 2.37 and a beta of 0.81. The company has a quick ratio of 0.50, a current ratio of 1.26 and a debt-to-equity ratio of 0.89. Ross Stores has a 12-month low of $88.31 and a 12-month high of $124.16.

Ross Stores (NASDAQ:ROST) last announced its earnings results on Thursday, November 21st. The apparel retailer reported $1.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.97 by $0.06. The company had revenue of $3.85 billion for the quarter, compared to analyst estimates of $3.77 billion. Ross Stores had a return on equity of 49.88% and a net margin of 10.47%. Ross Stores’s revenue for the quarter was up 8.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.91 earnings per share. Analysts expect that Ross Stores will post 4.57 EPS for the current year.

A number of hedge funds and other institutional investors have recently modified their holdings of ROST. Park Avenue Securities LLC purchased a new position in Ross Stores in the third quarter valued at about $274,000. Tealwood Asset Management Inc. boosted its stake in shares of Ross Stores by 3.6% during the 3rd quarter. Tealwood Asset Management Inc. now owns 20,788 shares of the apparel retailer’s stock worth $2,284,000 after acquiring an additional 727 shares in the last quarter. State of New Jersey Common Pension Fund D bought a new stake in shares of Ross Stores during the 3rd quarter worth about $31,780,000. Rhumbline Advisers boosted its stake in shares of Ross Stores by 1.4% during the 3rd quarter. Rhumbline Advisers now owns 798,136 shares of the apparel retailer’s stock worth $87,675,000 after acquiring an additional 11,376 shares in the last quarter. Finally, Quadrant Capital Group LLC boosted its stake in shares of Ross Stores by 29.3% during the 3rd quarter. Quadrant Capital Group LLC now owns 2,543 shares of the apparel retailer’s stock worth $264,000 after acquiring an additional 577 shares in the last quarter. Hedge funds and other institutional investors own 82.63% of the company’s stock.

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 brands. Its stores primarily offers apparel, accessories, footwear, and home fashions. The company's Ross Dress for Less stores sell its products at department and specialty stores primarily to middle income households; and dd's DISCOUNTS stores sell its products at department and discount stores regular prices to customers from households with moderate income.

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Analyst Recommendations for Ross Stores (NASDAQ:ROST)

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