Ross Stores (NASDAQ:ROST) Price Target Raised to $175.00

Ross Stores (NASDAQ:ROST) had its price objective increased by equities researchers at Wells Fargo & Company from $160.00 to $175.00 in a research note issued to investors on Friday, Benzinga reports. The firm presently has an “overweight” rating on the apparel retailer’s stock. Wells Fargo & Company‘s target price points to a potential upside of 13.66% from the stock’s previous close.

ROST has been the subject of several other reports. Bank of America increased their price objective on shares of Ross Stores from $170.00 to $180.00 and gave the company a “buy” rating in a research report on Friday. Morgan Stanley lifted their target price on Ross Stores from $163.00 to $178.00 and gave the stock an “overweight” rating in a report on Friday. StockNews.com upgraded shares of Ross Stores from a “hold” rating to a “buy” rating in a report on Thursday, July 11th. Barclays upped their price objective on shares of Ross Stores from $165.00 to $175.00 and gave the company an “overweight” rating in a report on Friday. Finally, Evercore ISI boosted their target price on shares of Ross Stores from $155.00 to $165.00 and gave the company an “outperform” rating in a research report on Friday, May 24th. 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.com, Ross Stores has an average rating of “Moderate Buy” and an average target price of $169.71.

Ross Stores Stock Up 1.0 %

NASDAQ:ROST traded up $1.45 during trading hours on Friday, reaching $153.97. The company’s stock had a trading volume of 1,906,619 shares, compared to its average volume of 2,219,677. 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 company has a market capitalization of $51.36 billion, a P/E ratio of 25.96, a price-to-earnings-growth ratio of 2.17 and a beta of 1.08. The stock has a 50 day moving average price of $145.21 and a two-hundred day moving average price of $142.25. Ross Stores has a 12 month low of $108.35 and a 12 month high of $163.60.

Ross Stores (NASDAQ:ROST) last released its quarterly earnings results on Thursday, August 22nd. The apparel retailer reported $1.59 EPS for the quarter, beating the consensus estimate of $1.49 by $0.10. Ross Stores had a net margin of 9.60% and a return on equity of 42.24%. 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 firm posted $1.32 earnings per share. The company’s quarterly revenue was up 7.1% on a year-over-year basis. Equities analysts predict that Ross Stores will post 5.97 EPS for the current fiscal year.

Insider Buying and Selling at Ross Stores

In other Ross Stores news, Director Patricia H. Mueller sold 941 shares of the stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $138.37, for a total value of $130,206.17. Following the completion of the sale, the director now owns 973 shares in the company, valued at approximately $134,634.01. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 2.10% of the stock is owned by insiders.

Institutional Trading of Ross Stores

Hedge funds have recently bought and sold shares of the business. Riverview Trust Co acquired a new stake in Ross Stores in the 1st quarter valued at about $26,000. Rise Advisors LLC acquired a new stake in shares of Ross Stores during the 1st quarter worth approximately $27,000. SJS Investment Consulting Inc. increased its holdings in shares of Ross Stores by 262.1% during the 2nd quarter. SJS Investment Consulting Inc. now owns 210 shares of the apparel retailer’s stock worth $31,000 after buying an additional 152 shares during the last quarter. Industrial Alliance Investment Management Inc. acquired a new stake in shares of Ross Stores during the 2nd quarter worth approximately $32,000. Finally, Raleigh Capital Management Inc. increased its holdings in shares of Ross Stores by 41.8% during the 4th 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 last quarter. Institutional investors and hedge funds own 86.86% 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 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.