Ross Stores (NASDAQ:ROST) Upgraded to Strong-Buy at Wolfe Research

Ross Stores (NASDAQ:ROST) was upgraded by analysts at Wolfe Research to a “strong-buy” rating in a research note issued to investors on Wednesday, Zacks reports.

Several other research analysts have also commented on ROST. UBS Group lifted their price target on Ross Stores from $232.00 to $239.00 and gave the stock a “neutral” rating in a research report on Friday, August 21st. Weiss Ratings raised Ross Stores from a “buy (b)” rating to a “buy (a-)” rating in a report on Friday, October 16th. Morgan Stanley raised their target price on shares of Ross Stores from $231.00 to $234.00 and gave the stock an “equal weight” rating in a research report on Friday, August 21st. Barclays raised their target price on shares of Ross Stores from $260.00 to $298.00 and gave the stock an “overweight” rating in a research report on Friday, August 21st. Finally, Sanford C. Bernstein lifted their target price on shares of Ross Stores from $230.00 to $240.00 and gave the company a “market perform” rating in a report on Friday, August 21st. Three equities research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, Ross Stores has an average rating of “Moderate Buy” and a consensus target price of $264.61.

Ross Stores Trading Up 1.1%

Shares of Ross Stores stock opened at $236.67 on Wednesday. The firm has a market capitalization of $75.60 billion, a price-to-earnings ratio of 30.57, a PEG ratio of 1.97 and a beta of 0.83. Ross Stores has a fifty-two week low of $154.87 and a fifty-two week high of $257.00. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.98 and a current ratio of 1.61. The stock has a 50 day moving average of $231.76 and a 200 day moving average of $230.05.

Ross Stores (NASDAQ:ROST) last posted its earnings results on Thursday, August 20th. The apparel retailer reported $2.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.95 by $0.71. The company had revenue of $6.26 billion during the quarter, compared to analysts’ expectations of $6.16 billion. Ross Stores had a return on equity of 39.29% and a net margin of 10.85%. The firm’s quarterly revenue was up 13.3% compared to the same quarter last year. During the same quarter last year, the firm earned $1.56 earnings per share. As a group, research analysts predict that Ross Stores will post 8.15 earnings per share for the current year.

Insider Buying and Selling at Ross Stores

In other news, CEO James Conroy sold 49,205 shares of the firm’s stock in a transaction that occurred on Monday, September 14th. The shares were sold at an average price of $229.48, for a total transaction of $11,291,563.40. Following the completion of the transaction, the chief executive officer directly owned 134,349 shares of the company’s stock, valued at $30,830,408.52. This trade represents a 26.81% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Stephen Brinkley sold 6,424 shares of the company’s stock in a transaction that occurred on Monday, September 14th. The shares were sold at an average price of $229.66, for a total value of $1,475,335.84. Following the completion of the sale, the insider directly owned 51,665 shares in the company, valued at approximately $11,865,383.90. The trade was a 11.06% decrease in their position. The SEC filing for this sale provides additional information. 2.10% of the stock is currently owned by corporate insiders.

Institutional Trading of Ross Stores

A number of institutional investors and hedge funds have recently made changes to their positions in ROST. Net Worth Advisory Group lifted its holdings in shares of Ross Stores by 4.2% during the 3rd quarter. Net Worth Advisory Group now owns 1,047 shares of the apparel retailer’s stock valued at $245,000 after acquiring an additional 42 shares in the last quarter. Greenleaf Trust boosted its stake in shares of Ross Stores by 0.9% during the 2nd quarter. Greenleaf Trust now owns 6,026 shares of the apparel retailer’s stock valued at $1,283,000 after buying an additional 51 shares during the last quarter. Cooper Financial Group boosted its stake in Ross Stores by 2.8% during the 2nd quarter. Cooper Financial Group now owns 1,919 shares of the apparel retailer’s stock valued at $409,000 after acquiring an additional 52 shares during the last quarter. RFG Advisory LLC grew its stake in Ross Stores by 3.8% in the second quarter. RFG Advisory LLC now owns 1,430 shares of the apparel retailer’s stock worth $304,000 after purchasing an additional 52 shares in the last quarter. Finally, Eastern Bank grew its position in shares of Ross Stores by 0.5% in the 3rd quarter. Eastern Bank now owns 10,557 shares of the apparel retailer’s stock worth $2,464,000 after acquiring an additional 57 shares in the last quarter. 86.86% of the stock is currently owned by institutional investors and hedge funds.

Ross Stores Company Profile

Ross Stores, Inc is an off-price apparel and home fashion retailer headquartered in Dublin, California. The company operates primarily through its Ross Dress for Less stores, which offer branded and designer apparel, accessories, footwear, and home merchandise at discounts to regular department and specialty store prices.

Ross Stores also operates dd’s DISCOUNTS, a chain focused on value-oriented apparel, accessories, footwear, and home products. Both retail formats generally purchase merchandise opportunistically from manufacturers, department stores, and other suppliers, allowing the company to offer changing assortments and discounted prices.

Founded in 1950, Ross Stores serves customers across the United States through its store network and e-commerce presence.