Ross Stores (NASDAQ:ROST) Price Target Cut to $173.00

Ross Stores (NASDAQ:ROST) had its target price reduced by investment analysts at TD Cowen from $176.00 to $173.00 in a report released on Friday, Benzinga reports. The brokerage presently has a “buy” rating on the apparel retailer’s stock. TD Cowen’s target price suggests a potential upside of 23.89% from the company’s current price.

ROST has been the subject of a number of other research reports. Evercore ISI lifted their price target on Ross Stores from $155.00 to $165.00 and gave the stock an “outperform” rating in a research report on Friday, May 24th. Telsey Advisory Group reaffirmed a “market perform” rating and set a $160.00 price target on shares of Ross Stores in a research report on Friday, June 14th. StockNews.com raised Ross Stores from a “hold” rating to a “buy” rating in a research report on Thursday, July 11th. Barclays lifted their price target on Ross Stores from $163.00 to $165.00 and gave the stock an “overweight” rating in a research report on Friday, May 24th. Finally, Guggenheim lifted their price target on Ross Stores from $165.00 to $170.00 and gave the stock a “buy” rating in a research report on Friday, May 24th. Three investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Ross Stores currently has an average rating of “Moderate Buy” and an average target price of $158.89.

Ross Stores Stock Up 0.3 %

ROST stock traded up $0.42 on Friday, hitting $139.64. 1,225,694 shares of the company’s stock were exchanged, compared to its average volume of 2,003,775. Ross Stores has a 12-month low of $108.35 and a 12-month high of $153.06. The firm has a 50 day moving average price of $144.69 and a two-hundred day moving average price of $141.94. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.03 and a current ratio of 1.54. The stock has a market cap of $46.58 billion, a P/E ratio of 23.55, a price-to-earnings-growth ratio of 2.40 and a beta of 1.08.

Ross Stores (NASDAQ:ROST) last announced its earnings results on Thursday, May 23rd. The apparel retailer reported $1.46 earnings per share for the quarter, topping the consensus estimate 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 the consensus estimate of $4.83 billion. During the same period in the previous year, the business earned $1.09 EPS. The firm’s revenue for the quarter was up 8.1% on a year-over-year basis. As a group, equities research analysts expect that Ross Stores will post 5.97 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Patricia H. Mueller sold 941 shares of the company’s stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $138.37, for a total value of $130,206.17. Following the completion of the transaction, the director now 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 accessible through the SEC website. 2.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Ross Stores

Several large investors have recently bought and sold shares of the company. Axxcess Wealth Management LLC purchased a new stake in Ross Stores during the 2nd quarter worth approximately $474,000. Virtu Financial LLC purchased a new stake in Ross Stores during the 2nd quarter worth approximately $747,000. Edgestream Partners L.P. purchased a new stake in Ross Stores during the 2nd quarter worth approximately $415,000. Moors & Cabot Inc. increased its stake in Ross Stores by 2.9% during the 2nd quarter. Moors & Cabot Inc. now owns 9,162 shares of the apparel retailer’s stock worth $1,331,000 after buying an additional 260 shares in the last quarter. Finally, Renaissance Technologies LLC increased its stake in Ross Stores by 21.9% during the 2nd quarter. Renaissance Technologies LLC now owns 728,828 shares of the apparel retailer’s stock worth $105,913,000 after buying an additional 130,828 shares in the last quarter. 86.86% of the stock is currently owned by hedge funds and other 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.