Ross Stores (NASDAQ:ROST) Cut to Hold at StockNews.com

Ross Stores (NASDAQ:ROST) was downgraded by stock analysts at StockNews.com from a “buy” rating to a “hold” rating in a note issued to investors on Friday.

Other equities research analysts have also recently issued reports about the stock. Loop Capital upped their target price on shares of Ross Stores from $170.00 to $190.00 and gave the company a “buy” rating in a report on Friday, August 23rd. Telsey Advisory Group raised their target price on shares of Ross Stores from $160.00 to $175.00 and gave the company a “market perform” rating in a report on Friday, August 23rd. TD Cowen upped their target price on shares of Ross Stores from $173.00 to $185.00 and gave the company a “buy” rating in a report on Friday, August 23rd. Guggenheim boosted their price objective on shares of Ross Stores from $165.00 to $170.00 and gave the company a “buy” rating in a research report on Friday, May 24th. Finally, Morgan Stanley increased 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. Four equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $169.71.

Ross Stores Stock Performance

ROST stock traded down $2.61 during midday trading on Friday, hitting $150.53. 2,818,151 shares of the stock traded hands, compared to its average volume of 2,257,903. The firm has a market cap of $50.21 billion, a P/E ratio of 25.38, a PEG ratio of 2.44 and a beta of 1.09. Ross Stores has a 1-year low of $108.35 and a 1-year high of $163.60. The stock’s fifty day simple moving average is $146.10 and its 200-day simple moving average is $142.84. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.56 and a quick ratio of 1.05.

Ross Stores (NASDAQ:ROST) last posted its earnings results on Thursday, August 22nd. The apparel retailer reported $1.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.50 by $0.09. Ross Stores had a return on equity of 42.43% and a net margin of 9.82%. The company had revenue of $5.29 billion during the quarter, compared to analysts’ expectations of $5.25 billion. During the same quarter last year, the firm earned $1.32 earnings per share. The firm’s quarterly revenue was up 7.1% compared to the same quarter last year. On average, analysts expect that Ross Stores will post 6.21 earnings per share for the current year.

Insider Activity at Ross Stores

In other Ross Stores news, CEO Barbara Rentler sold 48,885 shares of Ross Stores stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $153.93, for a total value of $7,524,868.05. Following the completion of the transaction, the chief executive officer now directly owns 311,853 shares in the company, valued at $48,003,532.29. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 2.10% of the company’s stock.

Institutional Trading of Ross Stores

Several large investors have recently added to or reduced their stakes in the business. American International Group Inc. lifted its stake in shares of Ross Stores by 2.4% in the 4th quarter. American International Group Inc. now owns 124,424 shares of the apparel retailer’s stock worth $17,219,000 after acquiring an additional 2,969 shares during the period. PGGM Investments lifted its stake in Ross Stores by 724.1% in the 2nd quarter. PGGM Investments now owns 24,848 shares of the apparel retailer’s stock worth $3,611,000 after acquiring an additional 21,833 shares in the last quarter. Commerce Bank increased its holdings in shares of Ross Stores by 232.6% in the 4th quarter. Commerce Bank now owns 32,182 shares of the apparel retailer’s stock valued at $4,454,000 after purchasing an additional 22,506 shares during the period. Bank of Nova Scotia lifted its position in shares of Ross Stores by 1,194.4% in the fourth quarter. Bank of Nova Scotia now owns 411,164 shares of the apparel retailer’s stock worth $56,899,000 after purchasing an additional 379,398 shares in the last quarter. Finally, Perpetual Ltd acquired a new stake in shares of Ross Stores during the first quarter worth approximately $1,483,000. 86.86% of the stock is currently owned by institutional investors and hedge funds.

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.