Ross Stores (NASDAQ:ROST) PT Lowered to $159.00

Ross Stores (NASDAQ:ROST) had its price target cut by analysts at Morgan Stanley from $161.00 to $159.00 in a research report issued to clients and investors on Monday, Benzinga reports. The firm currently has an “overweight” rating on the apparel retailer’s stock. Morgan Stanley’s target price indicates a potential upside of 20.84% from the stock’s previous close.

A number of other research firms have also recently commented on ROST. Jefferies Financial Group raised their target price on Ross Stores from $135.00 to $147.00 and gave the company a “hold” rating in a research report on Wednesday, March 6th. Robert W. Baird raised their target price on Ross Stores from $145.00 to $162.00 and gave the company an “outperform” rating in a research report on Wednesday, March 6th. JPMorgan Chase & Co. raised their target price on Ross Stores from $150.00 to $163.00 and gave the company an “overweight” rating in a research report on Wednesday, March 6th. BMO Capital Markets raised their target price on Ross Stores from $138.00 to $165.00 and gave the company an “outperform” rating in a research report on Wednesday, March 6th. Finally, Guggenheim raised their target price on Ross Stores from $140.00 to $165.00 and gave the company a “buy” rating in a research report on Wednesday, March 6th. Four equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $155.11.

Ross Stores Stock Performance

NASDAQ ROST opened at $131.58 on Monday. The stock has a 50-day simple moving average of $140.49 and a two-hundred day simple moving average of $136.29. The firm has a market capitalization of $44.30 billion, a P/E ratio of 23.67, a PEG ratio of 1.86 and a beta of 1.06. Ross Stores has a fifty-two week low of $99.00 and a fifty-two week high of $151.12. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.24 and a current ratio of 1.77.

Ross Stores (NASDAQ:ROST) last released its quarterly earnings data on Tuesday, March 5th. The apparel retailer reported $1.82 earnings per share for the quarter, beating analysts’ consensus estimates of $1.63 by $0.19. The business had revenue of $6.02 billion during the quarter, compared to analyst estimates of $5.81 billion. Ross Stores had a return on equity of 41.15% and a net margin of 9.20%. The company’s revenue was up 15.5% on a year-over-year basis. During the same quarter last year, the business posted $1.31 EPS. On average, equities analysts forecast that Ross Stores will post 5.89 earnings per share for the current year.

Ross Stores announced that its board has initiated a share repurchase plan on Tuesday, March 5th that authorizes the company to repurchase $2.10 billion in shares. This repurchase authorization authorizes the apparel retailer to purchase up to 4.3% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Insider Activity

In related news, Director Patricia H. Mueller sold 2,265 shares of the company’s stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $145.38, for a total value of $329,285.70. Following the transaction, the director now directly owns 1,914 shares in the company, valued at $278,257.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Patricia H. Mueller sold 2,265 shares of the company’s stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $145.38, for a total value of $329,285.70. Following the transaction, the director now directly owns 1,914 shares in the company, valued at $278,257.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Michael K. Kobayashi sold 13,860 shares of the company’s stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $147.46, for a total value of $2,043,795.60. Following the completion of the transaction, the insider now owns 61,657 shares in the company, valued at $9,091,941.22. The disclosure for this sale can be found here. Insiders sold 71,097 shares of company stock worth $10,396,178 over the last ninety days. Corporate insiders own 2.10% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Benjamin F. Edwards & Company Inc. lifted its stake in Ross Stores by 93.0% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 14,593 shares of the apparel retailer’s stock worth $2,019,000 after purchasing an additional 7,033 shares in the last quarter. HTLF Bank acquired a new position in Ross Stores during the fourth quarter worth $1,094,000. Raymond James & Associates lifted its stake in Ross Stores by 5.7% during the fourth quarter. Raymond James & Associates now owns 302,277 shares of the apparel retailer’s stock worth $41,832,000 after purchasing an additional 16,167 shares in the last quarter. NBC Securities Inc. acquired a new position in Ross Stores during the third quarter worth $503,000. Finally, Federated Hermes Inc. lifted its stake in Ross Stores by 160.7% during the fourth quarter. Federated Hermes Inc. now owns 164,876 shares of the apparel retailer’s stock worth $22,817,000 after purchasing an additional 101,628 shares in the last quarter. 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.