Ross Stores (NASDAQ:ROST) Downgraded to Hold Rating by StockNews.com

Ross Stores (NASDAQ:ROST) was downgraded by equities researchers at StockNews.com from a “buy” rating to a “hold” rating in a research report issued on Tuesday.

A number of other research analysts have also issued reports on the stock. Sanford C. Bernstein restated a “market perform” rating and issued a $165.00 target price (down from $178.00) on shares of Ross Stores in a report on Tuesday, January 7th. Telsey Advisory Group reissued a “market perform” rating and issued a $175.00 price objective on shares of Ross Stores in a research report on Monday. Wells Fargo & Company restated an “equal weight” rating and set a $165.00 target price on shares of Ross Stores in a research report on Friday, January 10th. TD Cowen cut their price target on Ross Stores from $185.00 to $177.00 and set a “buy” rating for the company in a report on Tuesday, November 19th. Finally, Guggenheim reissued a “buy” rating and set a $180.00 price target on shares of Ross Stores in a research note on Friday, November 22nd. Eight analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $169.06.

Ross Stores Stock Performance

NASDAQ ROST opened at $138.78 on Tuesday. The company has a quick ratio of 0.98, a current ratio of 1.57 and a debt-to-equity ratio of 0.29. Ross Stores has a fifty-two week low of $127.53 and a fifty-two week high of $163.60. The business has a fifty day moving average of $147.16 and a 200-day moving average of $147.84. The stock has a market cap of $45.79 billion, a price-to-earnings ratio of 21.86, a price-to-earnings-growth ratio of 2.13 and a beta of 1.10.

Hedge Funds Weigh In On Ross Stores

Several institutional investors have recently made changes to their positions in the stock. Peapack Gladstone Financial Corp grew its stake in 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 buying an additional 70 shares during the last quarter. Howe & Rusling Inc. boosted its holdings in shares of Ross Stores by 1.9% during the third quarter. Howe & Rusling Inc. now owns 3,986 shares of the apparel retailer’s stock valued at $600,000 after acquiring an additional 73 shares during the period. Forum Financial Management LP grew its position in shares of Ross Stores by 5.3% during the fourth quarter. Forum Financial Management LP now owns 1,474 shares of the apparel retailer’s stock worth $223,000 after acquiring an additional 74 shares during the last quarter. Brown Brothers Harriman & Co. increased its holdings in shares of Ross Stores by 19.1% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 473 shares of the apparel retailer’s stock worth $71,000 after acquiring an additional 76 shares during the period. Finally, Alhambra Investment Management LLC lifted its position 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 purchasing an additional 76 shares during the last quarter. 86.86% of the stock is 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.