Ross Stores’ (ROST) “Market Perform” Rating Reiterated at Telsey Advisory Group

Ross Stores (NASDAQ:ROST)‘s stock had its “market perform” rating restated by research analysts at Telsey Advisory Group in a report released on Friday, Benzinga reports. They presently have a $160.00 target price on the apparel retailer’s stock. Telsey Advisory Group’s target price suggests a potential upside of 21.34% from the stock’s previous close.

Other equities analysts also recently issued reports about the stock. Robert W. Baird lifted their price objective on shares of Ross Stores from $145.00 to $162.00 and gave the stock an “outperform” rating in a report on Wednesday, March 6th. Evercore ISI lifted their target price on Ross Stores from $155.00 to $165.00 and gave the stock an “outperform” rating in a research note on Friday, February 23rd. The Goldman Sachs Group boosted their price objective on Ross Stores from $143.00 to $163.00 and gave the company a “buy” rating in a research note on Wednesday, March 6th. JPMorgan Chase & Co. boosted their price objective on Ross Stores from $150.00 to $163.00 and gave the company an “overweight” rating in a research note on Wednesday, March 6th. Finally, Barclays boosted their price objective on Ross Stores from $160.00 to $163.00 and gave the company an “overweight” rating in a research note on Wednesday, March 6th. Four investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat, Ross Stores has an average rating of “Moderate Buy” and a consensus price target of $155.11.

Ross Stores Stock Up 0.3 %

Ross Stores stock opened at $131.86 on Friday. The firm has a market cap of $44.40 billion, a price-to-earnings ratio of 23.72, a PEG ratio of 1.98 and a beta of 1.06. Ross Stores has a 52-week low of $100.66 and a 52-week high of $151.12. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.24 and a current ratio of 1.77. The firm has a 50 day moving average price of $136.91 and a two-hundred day moving average price of $137.42.

Ross Stores (NASDAQ:ROST) last announced its quarterly earnings data on Thursday, May 23rd. The apparel retailer reported $1.46 EPS for the quarter, topping the consensus estimate of $1.35 by $0.11. Ross Stores had a net margin of 9.20% and a return on equity of 41.15%. The company had revenue of $4.86 billion during the quarter, compared to the consensus estimate of $4.83 billion. During the same quarter last year, the firm posted $1.09 EPS. The company’s quarterly revenue was up 8.1% on a year-over-year basis. Equities analysts predict that Ross Stores will post 5.89 EPS for the current year.

Ross Stores declared that its Board of Directors has approved a share repurchase plan on Tuesday, March 5th that allows the company to buyback $2.10 billion in shares. This buyback authorization allows the apparel retailer to buy up to 4.3% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.

Insider Activity at Ross Stores

In related news, COO Michael J. Hartshorn sold 21,056 shares of the company’s stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $145.14, for a total transaction of $3,056,067.84. Following the completion of the transaction, the chief operating officer now owns 114,488 shares in the company, valued at $16,616,788.32. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other Ross Stores news, COO Michael J. Hartshorn sold 21,056 shares of the stock in a transaction on Monday, March 18th. The stock was sold at an average price of $145.14, for a total value of $3,056,067.84. Following the completion of the transaction, the chief operating officer now owns 114,488 shares in the company, valued at $16,616,788.32. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Larree M. Renda sold 4,168 shares of the stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $147.89, for a total value of $616,405.52. Following the completion of the transaction, the director now owns 3,166 shares of the company’s stock, valued at approximately $468,219.74. The disclosure for this sale can be found here. Insiders sold a total of 71,097 shares of company stock worth $10,396,178 over the last quarter. 2.10% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Ross Stores

Several institutional investors have recently modified their holdings of the business. EverSource Wealth Advisors LLC boosted its position in shares of Ross Stores by 9.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 888 shares of the apparel retailer’s stock valued at $123,000 after buying an additional 73 shares during the last quarter. Raleigh Capital Management Inc. boosted its position in shares of Ross Stores by 41.8% during the fourth quarter. Raleigh Capital Management Inc. now owns 251 shares of the apparel retailer’s stock valued at $35,000 after buying an additional 74 shares during the last quarter. Massmutual Trust Co. FSB ADV boosted its position in shares of Ross Stores by 9.0% during the fourth quarter. Massmutual Trust Co. FSB ADV now owns 919 shares of the apparel retailer’s stock valued at $127,000 after buying an additional 76 shares during the last quarter. Greenleaf Trust boosted its position in shares of Ross Stores by 1.6% during the fourth quarter. Greenleaf Trust now owns 5,133 shares of the apparel retailer’s stock valued at $710,000 after buying an additional 80 shares during the last quarter. Finally, Geneos Wealth Management Inc. boosted its position in shares of Ross Stores by 52.9% during the fourth quarter. Geneos Wealth Management Inc. now owns 240 shares of the apparel retailer’s stock valued at $33,000 after buying an additional 83 shares during the last quarter. 86.86% of the stock is owned by hedge funds and other institutional investors.

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.