Ross Stores (NASDAQ:ROST) Price Target Raised to $232.00

Ross Stores (NASDAQ:ROST) had its price objective raised by JPMorgan Chase & Co. from $215.00 to $232.00 in a research report released on Monday,Benzinga reports. The brokerage currently has an overweight rating on the apparel retailer’s stock.

A number of other research analysts have also weighed in on the stock. Sanford C. Bernstein reissued a “market perform” rating and set a $170.00 target price on shares of Ross Stores in a research report on Tuesday, January 6th. Robert W. Baird set a $200.00 price objective on Ross Stores in a research note on Wednesday, December 17th. Wells Fargo & Company boosted their price objective on Ross Stores from $180.00 to $200.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 16th. Weiss Ratings restated a “buy (b)” rating on shares of Ross Stores in a research note on Friday, January 9th. Finally, UBS Group lifted their price target on Ross Stores from $181.00 to $199.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 17th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, Ross Stores has a consensus rating of “Moderate Buy” and an average price target of $195.78.

Ross Stores Stock Up 0.5%

Shares of Ross Stores stock opened at $201.53 on Monday. Ross Stores has a 12-month low of $122.36 and a 12-month high of $204.85. The company has a quick ratio of 0.90, a current ratio of 1.52 and a debt-to-equity ratio of 0.17. The stock has a 50 day moving average price of $189.68 and a two-hundred day moving average price of $169.26. The stock has a market capitalization of $65.18 billion, a P/E ratio of 31.49, a PEG ratio of 3.47 and a beta of 0.99.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Aspect Partners LLC raised its stake in shares of Ross Stores by 251.7% in the 2nd quarter. Aspect Partners LLC now owns 204 shares of the apparel retailer’s stock valued at $26,000 after buying an additional 146 shares in the last quarter. American National Bank & Trust bought a new stake in Ross Stores in the third quarter valued at about $26,000. Thurston Springer Miller Herd & Titak Inc. raised its position in Ross Stores by 7,000.0% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 142 shares of the apparel retailer’s stock worth $26,000 after purchasing an additional 140 shares in the last quarter. Hilton Head Capital Partners LLC acquired a new position in Ross Stores in the fourth quarter worth about $26,000. Finally, Grey Fox Wealth Advisors LLC bought a new position in Ross Stores during the third quarter worth about $29,000. 86.86% of the stock is currently owned by institutional investors and hedge funds.

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.