Ross Stores (NASDAQ:ROST) Earns Market Perform Rating from Telsey Advisory Group

Ross Stores (NASDAQ:ROST)‘s stock had its “market perform” rating reissued by equities researchers at Telsey Advisory Group in a research note issued on Monday,Benzinga reports. They currently have a $175.00 price objective on the apparel retailer’s stock. Telsey Advisory Group’s price objective indicates a potential upside of 25.66% from the company’s current price.

Other equities analysts have also issued research reports about the stock. Loop Capital lifted their price target on shares of Ross Stores from $170.00 to $190.00 and gave the stock a “buy” rating in a report on Friday, August 23rd. TD Cowen lifted their target price on shares of Ross Stores from $173.00 to $185.00 and gave the stock a “buy” rating in a research note on Friday, August 23rd. Barclays lifted their target price on shares of Ross Stores from $165.00 to $175.00 and gave the stock an “overweight” rating in a research note on Friday, August 23rd. StockNews.com downgraded shares of Ross Stores from a “buy” rating to a “hold” rating in a research note on Friday, November 8th. Finally, Gordon Haskett raised shares of Ross Stores to a “strong-buy” rating in a research note on Friday, August 23rd. Five research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Ross Stores currently has an average rating of “Moderate Buy” and a consensus price target of $169.50.

Ross Stores Stock Performance

Shares of Ross Stores stock opened at $139.26 on Monday. Ross Stores has a fifty-two week low of $127.53 and a fifty-two week high of $163.60. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.56 and a quick ratio of 1.05. The firm has a market capitalization of $46.20 billion, a P/E ratio of 22.46, a P/E/G ratio of 2.36 and a beta of 1.09. The company’s 50 day moving average price is $145.76 and its two-hundred day moving average price is $144.48.

Ross Stores (NASDAQ:ROST) last issued its earnings results on Thursday, August 22nd. The apparel retailer reported $1.59 earnings per share for the quarter, beating analysts’ consensus estimates of $1.50 by $0.09. Ross Stores had a net margin of 9.82% and a return on equity of 42.43%. The firm had revenue of $5.29 billion for the quarter, compared to analyst estimates of $5.25 billion. During the same quarter last year, the business posted $1.32 earnings per share. The company’s quarterly revenue was up 7.1% on a year-over-year basis. On average, equities analysts forecast that Ross Stores will post 6.11 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Ross Stores news, CEO Barbara Rentler sold 48,885 shares of the business’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $153.93, for a total value of $7,524,868.05. Following the transaction, the chief executive officer now directly owns 311,853 shares in the company, valued at $48,003,532.29. The trade was a 13.55 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Michael J. Hartshorn sold 8,366 shares of the business’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $155.64, for a total transaction of $1,302,084.24. Following the completion of the transaction, the chief operating officer now owns 103,049 shares in the company, valued at approximately $16,038,546.36. The trade was a 7.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 72,138 shares of company stock worth $11,093,051. 2.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. State Street Corp boosted its stake in Ross Stores by 0.5% in the third quarter. State Street Corp now owns 14,137,281 shares of the apparel retailer’s stock valued at $2,127,802,000 after acquiring an additional 67,861 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Ross Stores by 0.4% in the third quarter. Geode Capital Management LLC now owns 8,152,045 shares of the apparel retailer’s stock valued at $1,222,915,000 after purchasing an additional 34,475 shares during the period. FMR LLC raised its position in shares of Ross Stores by 4.9% in the third quarter. FMR LLC now owns 6,812,233 shares of the apparel retailer’s stock valued at $1,025,309,000 after purchasing an additional 316,652 shares during the period. Marshfield Associates raised its position in shares of Ross Stores by 0.4% in the third quarter. Marshfield Associates now owns 3,908,958 shares of the apparel retailer’s stock valued at $588,337,000 after purchasing an additional 14,193 shares during the period. Finally, Wellington Management Group LLP raised its position in shares of 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 period. 86.86% of the stock is currently owned by hedge funds and other 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.