Ross Stores’ (ROST) Market Perform Rating Reaffirmed at Telsey Advisory Group

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

Several other equities research analysts have also issued reports on ROST. Gordon Haskett raised Ross Stores to a “strong-buy” rating in a research note on Friday, August 23rd. TD Cowen boosted their price objective on shares of Ross Stores from $173.00 to $185.00 and gave the stock a “buy” rating in a report on Friday, August 23rd. Citigroup downgraded shares of Ross Stores from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $179.00 to $152.00 in a research note on Tuesday, November 12th. StockNews.com lowered Ross Stores from a “buy” rating to a “hold” rating in a research note on Friday, November 8th. Finally, Morgan Stanley lifted their price target on Ross Stores from $163.00 to $178.00 and gave the stock an “overweight” rating in a research note on Friday, August 23rd. Five 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 MarketBeat.com, Ross Stores presently has an average rating of “Moderate Buy” and an average target price of $170.00.

Ross Stores Stock Performance

ROST stock traded up $0.61 during mid-day trading on Monday, hitting $141.30. The company had a trading volume of 2,188,857 shares, compared to its average volume of 2,271,681. 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 firm has a market cap of $46.88 billion, a PE ratio of 22.79, a price-to-earnings-growth ratio of 2.31 and a beta of 1.09. Ross Stores has a 12 month low of $127.53 and a 12 month high of $163.60. The stock’s fifty day moving average price is $146.18 and its two-hundred day moving average price is $144.32.

Ross Stores (NASDAQ:ROST) last announced its quarterly earnings results on Thursday, August 22nd. The apparel retailer reported $1.59 EPS for the quarter, beating analysts’ consensus estimates of $1.50 by $0.09. Ross Stores had a net margin of 9.82% and a return on equity of 42.43%. The company had revenue of $5.29 billion for the quarter, compared to analysts’ expectations of $5.25 billion. During the same period in the prior year, the company posted $1.32 EPS. Ross Stores’s revenue was up 7.1% compared to the same quarter last year. On average, analysts forecast that Ross Stores will post 6.11 earnings per share for the current fiscal year.

Insider Transactions at Ross Stores

In other Ross Stores news, Chairman Michael Balmuth sold 14,887 shares of the business’s stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $152.22, for a total transaction of $2,266,099.14. Following the completion of the sale, the chairman now directly owns 11,133 shares in the company, valued at $1,694,665.26. The trade was a 57.21 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Michael J. Hartshorn sold 8,366 shares of the stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $155.64, for a total transaction of $1,302,084.24. Following the completion of the transaction, the chief operating officer now owns 103,049 shares in the company, valued at $16,038,546.36. This trade represents a 7.51 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 72,138 shares of company stock worth $11,093,051 over the last quarter. 2.10% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. State Street Corp grew its holdings in Ross Stores by 0.5% during 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 period. Geode Capital Management LLC raised its stake in 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 acquiring an additional 34,475 shares during the period. FMR LLC lifted its holdings in Ross Stores by 4.9% during the third quarter. FMR LLC now owns 6,812,233 shares of the apparel retailer’s stock valued at $1,025,309,000 after purchasing an additional 316,652 shares in the last quarter. Marshfield Associates boosted its position in shares of Ross Stores by 0.4% in 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 during the period. Finally, Wellington Management Group LLP increased its stake in shares of Ross Stores by 64.0% in the third quarter. Wellington Management Group LLP now owns 3,862,684 shares of the apparel retailer’s stock worth $581,373,000 after purchasing an additional 1,507,922 shares in the last quarter. 86.86% of the stock is currently owned by 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.