Ross Stores, Inc. (NASDAQ:ROST) Receives $169.06 Average Price Target from Brokerages

Shares of Ross Stores, Inc. (NASDAQ:ROST) have been given an average rating of “Moderate Buy” by the eighteen research firms that are covering the stock, MarketBeat reports. Seven research analysts have rated the stock with a hold recommendation, ten have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month target price among analysts that have covered the stock in the last year is $169.06.

Several research analysts have issued reports on the company. TD Cowen cut their price objective on Ross Stores from $185.00 to $177.00 and set a “buy” rating for the company in a research report on Tuesday, November 19th. Citigroup cut shares of Ross Stores from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $179.00 to $152.00 in a research note on Tuesday, November 12th. Morgan Stanley restated an “equal weight” rating and set a $140.00 target price (down from $164.00) on shares of Ross Stores in a research report on Tuesday, January 21st. Wells Fargo & Company reaffirmed an “equal weight” rating and issued a $165.00 target price on shares of Ross Stores in a report on Friday, January 10th. Finally, JPMorgan Chase & Co. boosted their price target on Ross Stores from $171.00 to $173.00 and gave the stock an “overweight” rating in a research note on Friday, November 22nd.

Institutional Investors Weigh In On Ross Stores

Hedge funds and other institutional investors have recently modified their holdings of the company. Norges Bank purchased a new position in shares of Ross Stores during the fourth quarter valued at approximately $649,318,000. Price T Rowe Associates Inc. MD lifted its stake in shares of 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 period. Wealthfront Advisers LLC boosted its holdings in shares of Ross Stores by 8,209.0% during the fourth quarter. Wealthfront Advisers LLC now owns 2,381,201 shares of the apparel retailer’s stock worth $360,204,000 after purchasing an additional 2,352,543 shares during the last quarter. Madison Investment Advisors LLC purchased a new stake in shares of Ross Stores in the fourth quarter valued at $230,204,000. Finally, Wellington Management Group LLP increased its stake in 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 valued at $581,373,000 after purchasing an additional 1,507,922 shares during the last quarter. 86.86% of the stock is currently owned by hedge funds and other institutional investors.

Ross Stores Stock Performance

NASDAQ ROST opened at $135.93 on Thursday. The company has a current ratio of 1.57, a quick ratio of 0.98 and a debt-to-equity ratio of 0.29. The business’s 50 day moving average is $147.65 and its two-hundred day moving average is $147.93. The stock has a market capitalization of $44.85 billion, a price-to-earnings ratio of 21.41, a PEG ratio of 2.13 and a beta of 1.10. Ross Stores has a 12-month low of $127.53 and a 12-month high of $163.60.

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.