Ross Stores (NASDAQ:ROST) Earns “Market Perform” Rating from Telsey Advisory Group

Ross Stores (NASDAQ:ROST)‘s stock had its “market perform” rating reiterated by investment analysts at Telsey Advisory Group in a report released on Monday,Benzinga reports. They presently have a $175.00 target price on the apparel retailer’s stock. Telsey Advisory Group’s price objective points to a potential upside of 23.85% from the company’s current price.

Several other research analysts have also commented on ROST. TD Cowen lifted their price target on Ross Stores from $173.00 to $185.00 and gave the stock a “buy” rating in a research report on Friday, August 23rd. UBS Group increased their price target on Ross Stores from $147.00 to $167.00 and gave the company a “neutral” rating in a report on Friday, August 23rd. Robert W. Baird lifted their price objective on shares of Ross Stores from $162.00 to $180.00 and gave the stock an “outperform” rating in a research note on Friday, August 23rd. Bank of America boosted 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, August 23rd. Finally, Wells Fargo & Company reduced their target price on shares of Ross Stores from $175.00 to $165.00 and set an “overweight” rating on the stock in a research note on Thursday. Five investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $170.00.

Ross Stores Price Performance

ROST traded up $0.61 during trading on Monday, reaching $141.30. 2,188,857 shares of the company traded hands, compared to its average volume of 2,271,681. Ross Stores has a 12-month low of $127.53 and a 12-month high of $163.60. The firm has a fifty day simple moving average of $146.18 and a 200 day simple moving average of $144.32. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.05 and a current ratio of 1.56. The company has a market cap of $46.88 billion, a P/E ratio of 22.79, a PEG ratio of 2.31 and a beta of 1.09.

Ross Stores (NASDAQ:ROST) last released its quarterly earnings data on Thursday, August 22nd. The apparel retailer reported $1.59 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to the consensus estimate of $5.25 billion. During the same quarter in the previous year, the company posted $1.32 EPS. The company’s revenue was up 7.1% compared to the same quarter last year. On average, equities analysts forecast that Ross Stores will post 6.11 EPS for the current year.

Insider Buying and Selling

In related news, COO Michael J. Hartshorn sold 8,366 shares of the firm’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 transaction, 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 position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Barbara Rentler sold 48,885 shares of the stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $153.93, for a total value of $7,524,868.05. Following the transaction, the chief executive officer now directly owns 311,853 shares of the company’s stock, valued at $48,003,532.29. The trade was a 13.55 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 72,138 shares of company stock valued at $11,093,051. Corporate insiders own 2.10% of the company’s stock.

Institutional Investors Weigh In On Ross Stores

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. State Street Corp increased its holdings in shares of Ross Stores by 0.5% in the third quarter. State Street Corp now owns 14,137,281 shares of the apparel retailer’s stock valued at $2,127,802,000 after purchasing an additional 67,861 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Ross Stores by 0.4% during the 3rd quarter. Geode Capital Management LLC now owns 8,152,045 shares of the apparel retailer’s stock worth $1,222,915,000 after purchasing an additional 34,475 shares during the period. FMR LLC raised its stake in shares of Ross Stores by 4.9% in the 3rd quarter. FMR LLC now owns 6,812,233 shares of the apparel retailer’s stock valued at $1,025,309,000 after acquiring an additional 316,652 shares during the period. Marshfield Associates lifted its stake in Ross Stores by 0.4% during the third quarter. Marshfield Associates now owns 3,908,958 shares of the apparel retailer’s stock worth $588,337,000 after purchasing an additional 14,193 shares in the last quarter. Finally, Wellington Management Group LLP lifted its stake in Ross Stores by 64.0% during the 3rd quarter. Wellington Management Group LLP now owns 3,862,684 shares of the apparel retailer’s stock worth $581,373,000 after acquiring an additional 1,507,922 shares in 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.