Ross Stores (NASDAQ:ROST) Given New $163.00 Price Target at UBS Group

Ross Stores (NASDAQ:ROST) had its target price reduced by UBS Group from $168.00 to $163.00 in a report issued on Wednesday,Benzinga reports. The brokerage presently has a “neutral” rating on the apparel retailer’s stock. UBS Group’s price target indicates a potential upside of 17.57% from the stock’s previous close.

A number of other research analysts also recently issued reports on ROST. JPMorgan Chase & Co. increased their price objective on Ross Stores from $171.00 to $173.00 and gave the stock an “overweight” rating in a report on Friday, November 22nd. Morgan Stanley decreased their price target on shares of Ross Stores from $140.00 to $130.00 and set an “equal weight” rating for the company in a research note on Wednesday. Robert W. Baird cut their price objective on shares of Ross Stores from $175.00 to $160.00 and set an “outperform” rating on the stock in a research report on Wednesday. BMO Capital Markets decreased their target price on shares of Ross Stores from $168.00 to $156.00 and set an “outperform” rating for the company in a research report on Wednesday. Finally, Telsey Advisory Group cut their price target on shares of Ross Stores from $175.00 to $150.00 and set a “market perform” rating on the stock in a research report on Wednesday. Eight research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $162.12.

Ross Stores Trading Up 2.0 %

Shares of Ross Stores stock traded up $2.67 during trading hours on Wednesday, hitting $138.64. The company’s stock had a trading volume of 5,162,593 shares, compared to its average volume of 2,509,467. The company has a market capitalization of $45.74 billion, a PE ratio of 21.83, a price-to-earnings-growth ratio of 2.13 and a beta of 1.10. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.57 and a quick ratio of 0.98. The stock has a 50 day moving average of $146.27 and a 200 day moving average of $147.70. Ross Stores has a 12 month low of $127.53 and a 12 month high of $163.60.

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

Institutional Trading of Ross Stores

Several hedge funds have recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of Ross Stores during the fourth quarter worth $649,318,000. Price T Rowe Associates Inc. MD increased its position in Ross Stores by 25.7% during the fourth 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 acquiring an additional 3,995,760 shares during the period. Wealthfront Advisers LLC raised its stake in 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 worth $360,204,000 after purchasing an additional 2,352,543 shares in the last quarter. Madison Investment Advisors LLC bought a new stake in Ross Stores in the 4th quarter valued at about $230,204,000. Finally, Wellington Management Group LLP boosted its holdings in Ross Stores by 64.0% in the 3rd quarter. Wellington Management Group LLP now owns 3,862,684 shares of the apparel retailer’s stock valued at $581,373,000 after purchasing an additional 1,507,922 shares during the period. 86.86% of the stock is owned by institutional investors and hedge funds.

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.