Ross Stores (NASDAQ:ROST) Cut to C+ at TheStreet

Ross Stores (NASDAQ:ROSTGet Rating) was downgraded by research analysts at TheStreet from a “b-” rating to a “c+” rating in a research note issued on Thursday, TheStreetRatingsTable reports.

Several other equities research analysts have also recently weighed in on the stock. Truist Financial lowered their price target on shares of Ross Stores from $136.00 to $122.00 in a research report on Friday, February 18th. Robert W. Baird cut their price target on Ross Stores from $115.00 to $90.00 and set an “outperform” rating on the stock in a report on Friday. Wells Fargo & Company cut their price target on Ross Stores from $90.00 to $80.00 and set an “equal weight” rating on the stock in a report on Friday. Morgan Stanley cut their price target on Ross Stores from $139.00 to $129.00 and set an “overweight” rating on the stock in a report on Friday. Finally, Loop Capital decreased their price target on shares of Ross Stores from $95.00 to $80.00 and set a “hold” rating for the company in a research report on Friday. Six equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $107.88.

Shares of NASDAQ:ROST opened at $71.87 on Thursday. The company has a quick ratio of 1.24, a current ratio of 1.77 and a debt-to-equity ratio of 0.60. The business’s 50 day moving average is $95.92 and its 200 day moving average is $101.16. The stock has a market cap of $25.25 billion, a P/E ratio of 16.01, a price-to-earnings-growth ratio of 1.84 and a beta of 0.92. Ross Stores has a 52-week low of $69.75 and a 52-week high of $127.58.

Ross Stores (NASDAQ:ROSTGet Rating) last released its quarterly earnings data on Thursday, May 19th. The apparel retailer reported $0.97 earnings per share for the quarter, missing the consensus estimate of $1.00 by ($0.03). Ross Stores had a net margin of 8.46% and a return on equity of 39.79%. The firm had revenue of $4.33 billion during the quarter, compared to the consensus estimate of $4.54 billion. During the same quarter in the previous year, the firm earned $1.34 earnings per share. The business’s revenue was down 4.1% compared to the same quarter last year. On average, sell-side analysts anticipate that Ross Stores will post 5.04 EPS for the current fiscal year.

Ross Stores announced that its Board of Directors has approved a share repurchase program on Tuesday, March 1st that authorizes the company to repurchase $1.90 billion in outstanding shares. This repurchase authorization authorizes the apparel retailer to buy up to 6% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s leadership believes its shares are undervalued.

Large investors have recently bought and sold shares of the company. Baird Financial Group Inc. increased its position in shares of Ross Stores by 0.9% in the fourth quarter. Baird Financial Group Inc. now owns 11,954 shares of the apparel retailer’s stock valued at $1,366,000 after buying an additional 106 shares in the last quarter. CENTRAL TRUST Co boosted its stake in shares of Ross Stores by 1.8% in the fourth quarter. CENTRAL TRUST Co now owns 6,357 shares of the apparel retailer’s stock worth $727,000 after acquiring an additional 115 shares during the last quarter. Trust Asset Management LLC increased its position in shares of Ross Stores by 3.4% during the first quarter. Trust Asset Management LLC now owns 3,582 shares of the apparel retailer’s stock worth $324,000 after purchasing an additional 119 shares in the last quarter. Saturna Capital CORP raised its stake in Ross Stores by 1.0% in the 1st quarter. Saturna Capital CORP now owns 12,730 shares of the apparel retailer’s stock valued at $1,152,000 after purchasing an additional 120 shares during the last quarter. Finally, Glassman Wealth Services raised its stake in Ross Stores by 19.0% in the 4th quarter. Glassman Wealth Services now owns 758 shares of the apparel retailer’s stock valued at $87,000 after purchasing an additional 121 shares during the last quarter. 87.02% of the stock is owned by hedge funds and other institutional investors.

About Ross Stores (Get Rating)

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. 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 primarily to middle income households; and dd's DISCOUNTS stores sell its products at department and discount stores for households with moderate income.

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