Telsey Advisory Group Forecasts Strong Price Appreciation for Ross Stores (NASDAQ:ROST) Stock

Ross Stores (NASDAQ:ROST) had its price target upped by Telsey Advisory Group from $175.00 to $220.00 in a report issued on Wednesday. The firm currently has a “market perform” rating on the apparel retailer’s stock. Telsey Advisory Group’s price objective indicates a potential upside of 9.70% from the company’s current price.

ROST has been the topic of a number of other research reports. Guggenheim raised shares of Ross Stores to a “strong-buy” rating in a report on Wednesday, December 10th. Wells Fargo & Company raised their price objective on Ross Stores from $180.00 to $200.00 and gave the company an “overweight” rating in a research note on Tuesday, December 16th. Jefferies Financial Group reaffirmed a “buy” rating and set a $205.00 price objective on shares of Ross Stores in a report on Monday, December 1st. Zacks Research upgraded Ross Stores from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 12th. Finally, Citigroup increased their price objective on shares of Ross Stores from $188.00 to $224.00 and gave the company a “buy” rating in a research note on Tuesday, February 10th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, Ross Stores has an average rating of “Moderate Buy” and an average price target of $195.78.

Ross Stores Trading Down 0.7%

NASDAQ:ROST opened at $200.55 on Wednesday. Ross Stores has a 1 year low of $122.36 and a 1 year high of $203.31. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.90 and a current ratio of 1.52. The stock has a fifty day moving average price of $189.31 and a two-hundred day moving average price of $169.03. The stock has a market capitalization of $64.87 billion, a price-to-earnings ratio of 31.34, a PEG ratio of 3.50 and a beta of 0.99.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ROST. Virtus Investment Advisers LLC purchased a new stake in Ross Stores in the 2nd quarter valued at about $1,265,000. Jump Financial LLC purchased a new position in shares of Ross Stores during the 2nd quarter worth about $7,949,000. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Ross Stores by 6.0% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 130,610 shares of the apparel retailer’s stock worth $19,904,000 after acquiring an additional 7,338 shares during the last quarter. Thrivent Financial for Lutherans grew its holdings in Ross Stores by 84.7% in the third quarter. Thrivent Financial for Lutherans now owns 227,340 shares of the apparel retailer’s stock valued at $34,645,000 after purchasing an additional 104,270 shares during the period. Finally, GSA Capital Partners LLP acquired a new position in Ross Stores during the third quarter worth approximately $1,411,000. 86.86% of the stock is currently owned by hedge funds and other institutional investors.

About Ross Stores

Ross Stores, Inc (NASDAQ: ROST) is an American off‑price retailer headquartered in Dublin, California, that operates the Ross Dress for Less and dd’s DISCOUNTS store formats. The company sells a broad assortment of apparel, footwear, home fashions, accessories and other soft goods, positioning itself as a value-oriented destination for brand‑name and fashion merchandise at reduced prices.

Ross’s business model centers on opportunistic buying of excess inventory, closeouts, cancelled orders and overstocks from manufacturers, department stores and other suppliers.