Barclays Forecasts Strong Price Appreciation for Ross Stores (NASDAQ:ROST) Stock

Ross Stores (NASDAQ:ROST) had its target price increased by equities researchers at Barclays from $205.00 to $221.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm currently has an “overweight” rating on the apparel retailer’s stock. Barclays‘s target price would suggest a potential upside of 9.52% from the stock’s previous close.

A number of other research firms also recently weighed in on ROST. Bank of America lifted their price objective on Ross Stores from $175.00 to $200.00 and gave the company a “buy” rating in a report on Friday, November 21st. Wells Fargo & Company raised their target price on Ross Stores from $180.00 to $200.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 16th. Zacks Research raised Ross Stores from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 12th. Wall Street Zen upgraded Ross Stores from a “hold” rating to a “buy” rating in a research report on Saturday, November 15th. Finally, Jefferies Financial Group reiterated a “buy” rating and set a $205.00 price objective on shares of Ross Stores in a research note on Monday, December 1st. Two analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, Ross Stores has a consensus rating of “Moderate Buy” and an average price target of $196.67.

Ross Stores Price Performance

Shares of Ross Stores stock opened at $201.79 on Monday. The firm has a market cap of $65.27 billion, a P/E ratio of 31.45, a price-to-earnings-growth ratio of 3.58 and a beta of 0.97. The firm’s 50-day simple moving average is $190.57 and its 200-day simple moving average is $170.20. Ross Stores has a twelve month low of $122.36 and a twelve month high of $206.40. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.90 and a current ratio of 1.52.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. MidFirst Bank acquired a new stake in Ross Stores in the 4th quarter valued at about $406,000. SG Trading Solutions LLC bought a new stake in shares of Ross Stores during the fourth quarter valued at approximately $991,000. Pacer Advisors Inc. grew its stake in shares of Ross Stores by 1.6% during the fourth quarter. Pacer Advisors Inc. now owns 49,665 shares of the apparel retailer’s stock valued at $8,947,000 after purchasing an additional 780 shares during the last quarter. Phillip James Consulting Co. acquired a new stake in shares of Ross Stores in the fourth quarter valued at approximately $93,000. Finally, Vinland Capital Management Gestora de Recursos LTDA. bought a new position in Ross Stores in the 4th quarter worth approximately $158,000. 86.86% of the stock is owned by institutional investors.

Ross Stores Company Profile

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.