StockNews.com Downgrades Ross Stores (NASDAQ:ROST) to Hold

Ross Stores (NASDAQ:ROST) was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued on Friday.

A number of other brokerages have also issued reports on ROST. Telsey Advisory Group reiterated a “market perform” rating and set a $175.00 target price on shares of Ross Stores in a research report on Tuesday, October 29th. Bank of America increased their target price on Ross Stores from $170.00 to $180.00 and gave the company a “buy” rating in a research report on Friday, August 23rd. UBS Group raised their price objective on Ross Stores from $147.00 to $167.00 and gave the company a “neutral” rating in a report on Friday, August 23rd. Loop Capital raised their price objective on Ross Stores from $170.00 to $190.00 and gave the company a “buy” rating in a report on Friday, August 23rd. Finally, Gordon Haskett upgraded Ross Stores to a “strong-buy” rating in a report on Friday, August 23rd. Four investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $171.88.

Ross Stores Price Performance

Shares of NASDAQ:ROST opened at $143.40 on Friday. The company has a market cap of $47.57 billion, a PE ratio of 23.13, a price-to-earnings-growth ratio of 2.25 and a beta of 1.09. Ross Stores has a twelve month low of $119.73 and a twelve month high of $163.60. The company’s 50 day moving average is $147.21 and its 200 day moving average is $143.80. The company has a current ratio of 1.56, a quick ratio of 1.05 and a debt-to-equity ratio of 0.30.

Ross Stores (NASDAQ:ROST) last issued its quarterly earnings data on Thursday, August 22nd. The apparel retailer reported $1.59 EPS for the quarter, topping 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 business had revenue of $5.29 billion for the quarter, compared to analysts’ expectations of $5.25 billion. During the same quarter last year, the company earned $1.32 EPS. The business’s revenue was up 7.1% on a year-over-year basis. On average, sell-side analysts forecast that Ross Stores will post 6.2 EPS for the current year.

Insider Buying and Selling

In related news, COO Michael J. Hartshorn sold 8,366 shares of the firm’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $155.64, for a total transaction of $1,302,084.24. Following the completion of the sale, the chief operating officer now directly owns 103,049 shares of the company’s stock, valued at approximately $16,038,546.36. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Ross Stores news, Chairman Michael Balmuth sold 14,887 shares of Ross Stores stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $152.22, for a total value of $2,266,099.14. Following the completion of the transaction, the chairman now directly owns 11,133 shares of the company’s stock, valued at $1,694,665.26. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Michael J. Hartshorn sold 8,366 shares of Ross Stores stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $155.64, for a total value of $1,302,084.24. Following the completion of the transaction, the chief operating officer now directly owns 103,049 shares of the company’s stock, valued at approximately $16,038,546.36. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 72,138 shares of company stock valued at $11,093,051. 2.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Ross Stores

Institutional investors have recently bought and sold shares of the company. University of Texas Texas AM Investment Management Co. acquired a new position in Ross Stores in the 2nd quarter valued at about $27,000. SJS Investment Consulting Inc. grew its position in Ross Stores by 262.1% in the 2nd quarter. SJS Investment Consulting Inc. now owns 210 shares of the apparel retailer’s stock valued at $31,000 after acquiring an additional 152 shares in the last quarter. Industrial Alliance Investment Management Inc. acquired a new position in Ross Stores in the 2nd quarter valued at about $32,000. Armstrong Advisory Group Inc. acquired a new position in Ross Stores in the 3rd quarter valued at about $33,000. Finally, Crewe Advisors LLC grew its position in Ross Stores by 97.8% in the 2nd quarter. Crewe Advisors LLC now owns 275 shares of the apparel retailer’s stock valued at $40,000 after acquiring an additional 136 shares in the last quarter. 86.86% of the stock is 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.