Ross Stores (NASDAQ:ROST) Price Target Lowered to $163.00 at UBS Group

Ross Stores (NASDAQ:ROST) had its target price dropped by equities research analysts at UBS Group from $168.00 to $163.00 in a note issued to investors on Wednesday,Benzinga reports. The firm presently has a “neutral” rating on the apparel retailer’s stock. UBS Group’s target price would indicate a potential upside of 17.57% from the stock’s previous close.

Other analysts have also issued research reports about the stock. StockNews.com lowered shares of Ross Stores from a “buy” rating to a “hold” rating in a research report on Tuesday, February 25th. TD Cowen cut their price objective on Ross Stores from $185.00 to $177.00 and set a “buy” rating on the stock in a report on Tuesday, November 19th. Morgan Stanley lowered their target price on Ross Stores from $140.00 to $130.00 and set an “equal weight” rating for the company in a report on Wednesday. Telsey Advisory Group cut their price target on Ross Stores from $175.00 to $150.00 and set a “market perform” rating on the stock in a research note on Wednesday. Finally, Loop Capital lowered their price objective on Ross Stores from $190.00 to $175.00 and set a “buy” rating for the company in a research note on Wednesday. Eight investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $162.12.

Ross Stores Price Performance

NASDAQ ROST traded up $2.67 on Wednesday, hitting $138.64. 5,162,593 shares of the company’s stock were exchanged, compared to its average volume of 2,509,467. The stock has a 50-day moving average of $146.27 and a 200-day moving average of $147.70. The stock has a market cap of $45.74 billion, a price-to-earnings ratio of 21.83, a P/E/G ratio of 2.13 and a beta of 1.10. Ross Stores has a 52 week low of $127.53 and a 52 week 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.

Ross Stores (NASDAQ:ROST) last announced its quarterly earnings data on Tuesday, March 4th. The apparel retailer reported $1.79 earnings per share for the quarter, topping the consensus estimate of $1.65 by $0.14. Ross Stores had a return on equity of 41.83% and a net margin of 9.95%. The business had revenue of $5.91 billion during the quarter, compared to the consensus estimate of $5.95 billion. Analysts expect that Ross Stores will post 6.17 earnings per share for the current year.

Institutional Investors Weigh In On Ross Stores

Several institutional investors and hedge funds have recently made changes to their positions in the business. Norges Bank bought a new stake in Ross Stores in the fourth quarter worth approximately $649,318,000. Price T Rowe Associates Inc. MD grew its position in shares of 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 worth $2,952,170,000 after buying an additional 3,995,760 shares during the period. Wealthfront Advisers LLC increased its stake in shares of Ross Stores by 8,209.0% in the 4th quarter. Wealthfront Advisers LLC now owns 2,381,201 shares of the apparel retailer’s stock valued at $360,204,000 after acquiring an additional 2,352,543 shares in the last quarter. Madison Investment Advisors LLC acquired a new position in shares of Ross Stores during the 4th quarter valued at $230,204,000. Finally, Wellington Management Group LLP boosted 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 worth $581,373,000 after acquiring an additional 1,507,922 shares in the last quarter. Institutional investors own 86.86% of the company’s stock.

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.