Telsey Advisory Group Reaffirms Market Perform Rating for Ross Stores (NASDAQ:ROST)

Ross Stores (NASDAQ:ROST)‘s stock had its “market perform” rating reiterated by investment analysts at Telsey Advisory Group in a research report issued to clients and investors on Monday,Benzinga reports. They presently have a $175.00 price target on the apparel retailer’s stock. Telsey Advisory Group’s price target suggests a potential upside of 28.10% from the company’s previous close.

ROST has been the topic of a number of other reports. Citigroup lowered Ross Stores from a “buy” rating to a “neutral” rating and cut their target price for the stock from $179.00 to $152.00 in a research report on Tuesday, November 12th. Evercore ISI lifted their price objective on Ross Stores from $170.00 to $180.00 and gave the company an “outperform” rating in a research report on Friday, November 22nd. JPMorgan Chase & Co. boosted their target price on shares of Ross Stores from $171.00 to $173.00 and gave the stock an “overweight” rating in a research report on Friday, November 22nd. TD Cowen lowered their price target on Ross Stores from $185.00 to $177.00 and set a “buy” rating on the stock in a report on Tuesday, November 19th. Finally, Morgan Stanley reiterated an “equal weight” rating and issued a $140.00 price objective (down from $164.00) on shares of Ross Stores in a research note on Tuesday, January 21st. Seven analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $169.06.

Ross Stores Price Performance

Shares of NASDAQ:ROST opened at $136.61 on Monday. The company has a quick ratio of 0.98, a current ratio of 1.57 and a debt-to-equity ratio of 0.29. The firm has a 50-day simple moving average of $147.93 and a 200 day simple moving average of $147.95. Ross Stores has a fifty-two week low of $127.53 and a fifty-two week high of $163.60. The company has a market cap of $45.07 billion, a PE ratio of 21.51, a P/E/G ratio of 2.13 and a beta of 1.10.

Ross Stores (NASDAQ:ROST) last released its quarterly earnings results on Thursday, November 21st. The apparel retailer reported $1.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.41 by $0.07. Ross Stores had a return on equity of 41.83% and a net margin of 9.95%. The company had revenue of $5.10 billion during the quarter, compared to analysts’ expectations of $5.15 billion. During the same quarter in the prior year, the business posted $1.33 earnings per share. The company’s revenue for the quarter was up 3.6% compared to the same quarter last year. On average, sell-side analysts anticipate that Ross Stores will post 6.17 EPS for the current year.

Institutional Trading of Ross Stores

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Norges Bank acquired a new stake in Ross Stores during the fourth quarter worth approximately $649,318,000. Price T Rowe Associates Inc. MD lifted its holdings in Ross Stores by 25.7% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 19,515,891 shares of the apparel retailer’s stock worth $2,952,170,000 after purchasing an additional 3,995,760 shares during the last quarter. Wealthfront Advisers LLC boosted its stake in Ross Stores by 8,209.0% in the 4th quarter. Wealthfront Advisers LLC now owns 2,381,201 shares of the apparel retailer’s stock valued at $360,204,000 after purchasing an additional 2,352,543 shares during the period. Madison Investment Advisors LLC bought a new stake in Ross Stores in the 4th quarter valued at $230,204,000. Finally, Wellington Management Group LLP grew its holdings in Ross Stores by 64.0% in the 3rd quarter. Wellington Management Group LLP now owns 3,862,684 shares of the apparel retailer’s stock valued at $581,373,000 after buying an additional 1,507,922 shares in the last quarter. Institutional investors own 86.86% of the company’s stock.

About Ross Stores

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.