Loop Capital Has Lowered Expectations for Ross Stores (NASDAQ:ROST) Stock Price

Ross Stores (NASDAQ:ROST) had its price target decreased by Loop Capital from $190.00 to $175.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the apparel retailer’s stock. Loop Capital’s price target suggests a potential upside of 26.23% from the stock’s previous close.

Other analysts also recently issued research reports about the company. Robert W. Baird reduced their price objective on Ross Stores from $175.00 to $160.00 and set an “outperform” rating for the company in a research report on Wednesday. BMO Capital Markets decreased their price target on shares of Ross Stores from $168.00 to $156.00 and set an “outperform” rating on the stock in a research note on Wednesday. Citigroup cut shares of Ross Stores from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $179.00 to $152.00 in a research note on Tuesday, November 12th. Wells Fargo & Company decreased their target price on shares of Ross Stores from $165.00 to $140.00 and set an “equal weight” rating on the stock in a research report on Wednesday. Finally, Evercore ISI lowered their target price on shares of Ross Stores from $175.00 to $170.00 and set an “outperform” rating on the stock in a research note on Wednesday. Eight analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $162.35.

Ross Stores Stock Performance

Shares of Ross Stores stock traded up $2.67 during midday trading on Wednesday, hitting $138.64. The company had a trading volume of 5,162,469 shares, compared to its average volume of 2,509,458. Ross Stores has a 1-year low of $127.53 and a 1-year high of $163.60. The business’s 50 day simple moving average is $146.27 and its two-hundred day simple moving average is $147.70. The stock has a market cap of $45.74 billion, a PE ratio of 21.83, a P/E/G ratio of 2.13 and a beta of 1.10. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.57 and a quick ratio of 0.98.

Ross Stores (NASDAQ:ROST) last posted its quarterly earnings results on Tuesday, March 4th. The apparel retailer reported $1.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.65 by $0.14. Ross Stores had a net margin of 9.95% and a return on equity of 41.83%. The company had revenue of $5.91 billion for the quarter, compared to analyst estimates of $5.95 billion. As a group, equities analysts predict that Ross Stores will post 6.17 EPS for the current fiscal year.

Institutional Investors Weigh In On Ross Stores

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Peapack Gladstone Financial Corp increased its holdings in shares of Ross Stores by 1.8% during the 3rd quarter. Peapack Gladstone Financial Corp now owns 3,910 shares of the apparel retailer’s stock worth $588,000 after acquiring an additional 70 shares during the last quarter. Howe & Rusling Inc. raised its position in shares of Ross Stores by 1.9% in the third quarter. Howe & Rusling Inc. now owns 3,986 shares of the apparel retailer’s stock valued at $600,000 after purchasing an additional 73 shares during the period. Forum Financial Management LP lifted its stake in shares of Ross Stores by 5.3% during the 4th quarter. Forum Financial Management LP now owns 1,474 shares of the apparel retailer’s stock worth $223,000 after buying an additional 74 shares during the last quarter. Brown Brothers Harriman & Co. boosted its holdings in shares of Ross Stores by 19.1% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 473 shares of the apparel retailer’s stock worth $71,000 after buying an additional 76 shares during the period. Finally, Alhambra Investment Management LLC grew its stake in Ross Stores by 5.2% in the 4th quarter. Alhambra Investment Management LLC now owns 1,549 shares of the apparel retailer’s stock valued at $234,000 after buying an additional 76 shares during the last quarter. Institutional investors and hedge funds 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.