Ross Stores (NASDAQ:ROST) Now Covered by Analysts at Cantor Fitzgerald

Equities researchers at Cantor Fitzgerald assumed coverage on shares of Ross Stores (NASDAQ:ROST) in a report released on Tuesday, Marketbeat.com reports. The brokerage set an “overweight” rating and a $276.00 price target on the apparel retailer’s stock. Cantor Fitzgerald‘s target price suggests a potential upside of 16.46% from the stock’s current price.

ROST has been the topic of several other research reports. Truist Financial upped their price target on Ross Stores from $290.00 to $310.00 and gave the company a “buy” rating in a research note on Friday, August 21st. Wolfe Research began coverage on Ross Stores in a report on Wednesday, October 21st. They set an “outperform” rating and a $279.00 price objective for the company. Wall Street Zen upgraded shares of Ross Stores from a “hold” rating to a “buy” rating in a research report on Sunday, November 1st. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $294.00 target price on shares of Ross Stores in a research report on Friday, August 21st. Finally, Barclays raised their target price on shares of Ross Stores from $260.00 to $298.00 and gave the company an “overweight” rating in a research note on Friday, August 21st. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Ross Stores presently has a consensus rating of “Moderate Buy” and an average target price of $277.72.

Ross Stores Stock Up 2.6%

NASDAQ:ROST opened at $237.00 on Tuesday. The stock’s fifty day moving average price is $231.07 and its two-hundred day moving average price is $223.35. Ross Stores has a 52-week low of $157.73 and a 52-week high of $257.00. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.98 and a current ratio of 1.61. The company has a market cap of $75.71 billion, a price-to-earnings ratio of 28.69, a P/E/G ratio of 2.19 and a beta of 0.85.

Ross Stores (NASDAQ:ROST) last announced its quarterly earnings data on Thursday, August 20th. The apparel retailer reported $2.66 EPS for the quarter, beating analysts’ consensus estimates of $1.95 by $0.71. The firm had revenue of $6.26 billion for the quarter, compared to analyst estimates of $6.16 billion. Ross Stores had a return on equity of 39.29% and a net margin of 10.85%. The business’s quarterly revenue was up 13.3% compared to the same quarter last year. During the same period last year, the company earned $1.56 EPS. On average, analysts anticipate that Ross Stores will post 8.15 EPS for the current year.

Insiders Place Their Bets

In other news, insider Stephen C. Brinkley sold 6,424 shares of the firm’s stock in a transaction dated Monday, September 14th. The stock was sold at an average price of $229.66, for a total transaction of $1,475,335.84. Following the sale, the insider owned 51,665 shares of the company’s stock, valued at $11,865,383.90. This trade represents a 11.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO James Conroy sold 49,205 shares of the business’s stock in a transaction that occurred on Monday, September 14th. The shares were sold at an average price of $229.48, for a total value of $11,291,563.40. Following the completion of the transaction, the chief executive officer owned 134,349 shares of the company’s stock, valued at $30,830,408.52. This represents a 26.81% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 2.10% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. BlackRock Inc. acquired a new position in Ross Stores in the 2nd quarter worth $5,938,711,000. State Street Corp lifted its holdings in shares of Ross Stores by 5.3% in the second quarter. State Street Corp now owns 14,643,656 shares of the apparel retailer’s stock valued at $3,116,902,000 after purchasing an additional 734,009 shares in the last quarter. Bank of America Corp DE acquired a new position in shares of Ross Stores during the second quarter worth about $2,024,203,000. Primecap Management Co. CA bought a new position in shares of Ross Stores during the second quarter worth about $1,937,995,000. Finally, Wellington Management Group LLP grew its holdings in shares of Ross Stores by 89.2% during the second quarter. Wellington Management Group LLP now owns 6,615,682 shares of the apparel retailer’s stock worth $1,408,148,000 after buying an additional 3,118,591 shares in the last quarter. Institutional investors and hedge funds own 86.86% of the company’s stock.

Ross Stores Company Profile

Ross Stores, Inc is an off-price retailer operating Ross Dress for Less and dd’s DISCOUNTS. Its stores offer name-brand and designer merchandise at discounted prices, with product selection and availability varying by location and season.

Ross Dress for Less sells apparel, footwear, accessories, home fashions, furnishings, and other merchandise for the whole family. dd’s DISCOUNTS offers a similar off-price assortment, including clothing, shoes, home goods, and related products.

The company traces its origins to a department store founded in San Bruno, California, in 1950.