Ross Stores (NASDAQ:ROST) Stock Rating Upgraded by Wall Street Zen

Ross Stores (NASDAQ:ROST) was upgraded by research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a report released on Sunday, Wall Street Zen reports.

A number of other equities research analysts have also commented on ROST. Sanford C. Bernstein increased their price objective on shares of Ross Stores from $230.00 to $240.00 and gave the stock a “market perform” rating in a report on Friday, August 21st. Morgan Stanley boosted their target price on shares of Ross Stores from $231.00 to $234.00 and gave the stock an “equal weight” rating in a research note on Friday, August 21st. Truist Financial boosted their target price on shares of Ross Stores from $290.00 to $310.00 and gave the stock a “buy” rating in a research note on Friday, August 21st. Wolfe Research started coverage on shares of Ross Stores in a research report on Wednesday, October 21st. They set an “outperform” rating and a $279.00 target price on the stock. Finally, Wells Fargo & Company increased their price target on shares of Ross Stores from $245.00 to $248.00 and gave the company an “equal weight” rating in a research note on Friday, August 21st. Two research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, Ross Stores has an average rating of “Moderate Buy” and an average target price of $272.06.

Ross Stores Trading Up 1.0%

ROST stock opened at $230.59 on Friday. The business has a fifty day moving average price of $231.00 and a 200 day moving average price of $222.25. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.61 and a quick ratio of 0.98. Ross Stores has a fifty-two week low of $157.65 and a fifty-two week high of $257.00. The stock has a market capitalization of $73.66 billion, a price-to-earnings ratio of 29.76, a P/E/G ratio of 2.03 and a beta of 0.83.

Ross Stores (NASDAQ:ROST) last posted its quarterly earnings data on Thursday, August 20th. The apparel retailer reported $2.66 EPS for the quarter, topping analysts’ consensus estimates of $1.95 by $0.71. Ross Stores had a return on equity of 39.29% and a net margin of 10.85%. The company had revenue of $6.26 billion for the quarter, compared to analyst estimates of $6.16 billion. During the same quarter in the previous year, the firm earned $1.56 earnings per share. The business’s revenue was up 13.3% on a year-over-year basis. Analysts expect that Ross Stores will post 8.15 EPS for the current fiscal year.

Insider Activity at Ross Stores

In related news, insider Stephen Brinkley sold 6,424 shares of the business’s stock in a transaction that occurred on Monday, September 14th. The shares were sold at an average price of $229.66, for a total transaction of $1,475,335.84. Following the completion of the sale, the insider directly owned 51,665 shares of the company’s stock, valued at $11,865,383.90. The trade was a 11.06% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO James Conroy sold 49,205 shares of the business’s stock in a transaction that occurred on Monday, September 14th. The stock was sold at an average price of $229.48, for a total transaction of $11,291,563.40. Following the sale, the chief executive officer directly owned 134,349 shares of the company’s stock, valued at approximately $30,830,408.52. This trade represents a 26.81% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 2.10% of the stock is owned by insiders.

Institutional Investors Weigh In On Ross Stores

A number of institutional investors have recently made changes to their positions in the stock. Virtus Advisers LLC acquired a new stake in shares of Ross Stores in the second quarter valued at approximately $38,000. Twin Lakes Capital Management LLC bought a new position in shares of Ross Stores during the 2nd quarter worth approximately $41,000. Bell Investment Advisors Inc acquired a new position in shares of Ross Stores during the 2nd quarter worth approximately $43,000. BOK Financial Private Wealth Inc. acquired a new position in shares of Ross Stores during the 2nd quarter worth approximately $44,000. Finally, Elevation Wealth Partners LLC increased its holdings in shares of Ross Stores by 402.4% during the 2nd quarter. Elevation Wealth Partners LLC now owns 211 shares of the apparel retailer’s stock worth $45,000 after acquiring an additional 169 shares during the last quarter. 86.86% of the stock is owned by institutional investors and hedge funds.

Ross Stores Company Profile

Ross Stores, Inc is an off-price apparel and home fashion retailer headquartered in Dublin, California. The company operates primarily through its Ross Dress for Less stores, which offer branded and designer apparel, accessories, footwear, and home merchandise at discounts to regular department and specialty store prices.

Ross Stores also operates dd’s DISCOUNTS, a chain focused on value-oriented apparel, accessories, footwear, and home products. Both retail formats generally purchase merchandise opportunistically from manufacturers, department stores, and other suppliers, allowing the company to offer changing assortments and discounted prices.

Founded in 1950, Ross Stores serves customers across the United States through its store network and e-commerce presence.