Ross Stores (NASDAQ:ROST) Rating Lowered to Hold at StockNews.com

StockNews.com downgraded shares of Ross Stores (NASDAQ:ROST) from a buy rating to a hold rating in a report issued on Tuesday.

Several other research firms have also recently weighed in on ROST. Wells Fargo & Company restated an “equal weight” rating and set a $165.00 price target on shares of Ross Stores in a report on Friday, January 10th. Evercore ISI boosted their target price on Ross Stores from $170.00 to $180.00 and gave the stock an “outperform” rating in a research note on Friday, November 22nd. Sanford C. Bernstein reaffirmed 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. Guggenheim reiterated a “buy” rating and set a $180.00 price target on shares of Ross Stores in a report on Friday, November 22nd. Finally, TD Cowen reduced their price objective on Ross Stores from $185.00 to $177.00 and set a “buy” rating for the company in a research note on Tuesday, November 19th. Eight analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $169.06.

Ross Stores Price Performance

Shares of NASDAQ:ROST opened at $138.02 on Tuesday. Ross Stores has a 1-year low of $127.53 and a 1-year high of $163.60. The company has a current ratio of 1.57, a quick ratio of 0.98 and a debt-to-equity ratio of 0.29. The stock has a market cap of $45.54 billion, a PE ratio of 21.74, a price-to-earnings-growth ratio of 2.13 and a beta of 1.10. The stock’s fifty day simple moving average is $146.97 and its two-hundred day simple moving average is $147.77.

Hedge Funds Weigh In On Ross Stores

A number of large investors have recently made changes to their positions in the stock. Norges Bank purchased a new stake in Ross Stores during the 4th quarter worth about $649,318,000. Price T Rowe Associates Inc. MD grew its holdings in Ross Stores by 25.7% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 19,515,891 shares of the apparel retailer’s stock valued at $2,952,170,000 after buying an additional 3,995,760 shares in the last quarter. Wealthfront Advisers LLC increased its position in shares of Ross Stores by 8,209.0% during the fourth quarter. Wealthfront Advisers LLC now owns 2,381,201 shares of the apparel retailer’s stock valued at $360,204,000 after buying an additional 2,352,543 shares during the period. Madison Investment Advisors LLC purchased a new stake in shares of Ross Stores in the fourth quarter worth about $230,204,000. Finally, Wellington Management Group LLP grew its stake in Ross Stores by 64.0% during 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 acquiring an additional 1,507,922 shares in the last quarter. 86.86% of the stock is owned by institutional investors.

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.