Ross Stores (NASDAQ:ROST) Price Target Cut to $125.00

Posted by Defense World Staff on May 21st, 2023

Ross Stores (NASDAQ:ROST – Get Rating) had its price objective decreased by equities research analysts at Robert W. Baird from $130.00 to $125.00 in a research note issued to investors on Friday, The Fly reports. Robert W. Baird’s price objective points to a potential upside of 19.32% from the company’s previous close.

Other research analysts also recently issued research reports about the stock. Barclays dropped their price objective on shares of Ross Stores from $139.00 to $122.00 in a report on Tuesday, May 2nd. Telsey Advisory Group reissued a “market perform” rating and set a $120.00 price objective on shares of Ross Stores in a report on Wednesday, March 1st. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Ross Stores from $121.00 to $120.00 in a report on Wednesday, March 1st. JPMorgan Chase & Co. increased their price target on shares of Ross Stores from $123.00 to $124.00 and gave the company an “overweight” rating in a report on Monday, April 3rd. Finally, UBS Group downgraded shares of Ross Stores from a “neutral” rating to a “sell” rating in a report on Wednesday, March 29th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $117.76.

Ross Stores Trading Down 0.6 %

Shares of Ross Stores stock opened at $104.76 on Friday. The company has a fifty day moving average of $104.29 and a 200 day moving average of $109.82. Ross Stores has a fifty-two week low of $69.24 and a fifty-two week high of $122.44. The company has a market capitalization of $35.83 billion, a P/E ratio of 23.23, a P/E/G ratio of 2.04 and a beta of 0.97. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.34 and a current ratio of 1.90.

Ross Stores (NASDAQ:ROST – Get Rating) last released its quarterly earnings data on Thursday, May 18th. The apparel retailer reported $1.09 EPS for the quarter, beating the consensus estimate of $1.06 by $0.03. Ross Stores had a net margin of 8.19% and a return on equity of 36.89%. The business had revenue of $4.49 billion during the quarter, compared to the consensus estimate of $4.48 billion. During the same quarter in the prior year, the firm earned $0.97 EPS. The business’s revenue was up 3.7% on a year-over-year basis. On average, sell-side analysts anticipate that Ross Stores will post 4.91 earnings per share for the current fiscal year.

Insider Transactions at Ross Stores

In other news, CAO Jeffrey P. Burrill sold 3,297 shares of the firm’s stock in a transaction that occurred on Friday, March 31st. The shares were sold at an average price of $104.73, for a total transaction of $345,294.81. Following the transaction, the chief accounting officer now directly owns 23,148 shares of the company’s stock, valued at $2,424,290.04. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, CAO Jeffrey P. Burrill sold 3,297 shares of the firm’s stock in a transaction that occurred on Friday, March 31st. The shares were sold at an average price of $104.73, for a total transaction of $345,294.81. Following the transaction, the chief accounting officer now directly owns 23,148 shares of the company’s stock, valued at $2,424,290.04. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Michael K. Kobayashi sold 12,221 shares of the firm’s stock in a transaction that occurred on Thursday, April 6th. The stock was sold at an average price of $106.00, for a total transaction of $1,295,426.00. Following the transaction, the insider now directly owns 96,486 shares in the company, valued at $10,227,516. The disclosure for this sale can be found here. Over the last three months, insiders have sold 36,047 shares of company stock valued at $3,947,565. 2.00% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Ross Stores

A number of institutional investors have recently modified their holdings of the stock. Fairfield Bush & CO. bought a new position in shares of Ross Stores during the first quarter valued at approximately $87,000. Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of Ross Stores during the first quarter valued at approximately $200,000. Cibc World Market Inc. boosted its stake in shares of Ross Stores by 5.7% during the first quarter. Cibc World Market Inc. now owns 20,004 shares of the apparel retailer’s stock valued at $1,810,000 after purchasing an additional 1,085 shares in the last quarter. Vontobel Holding Ltd. boosted its stake in shares of Ross Stores by 27.4% during the first quarter. Vontobel Holding Ltd. now owns 12,174 shares of the apparel retailer’s stock valued at $1,128,000 after purchasing an additional 2,615 shares in the last quarter. Finally, Sei Investments Co. boosted its stake in shares of Ross Stores by 0.9% during the first quarter. Sei Investments Co. now owns 163,788 shares of the apparel retailer’s stock valued at $14,826,000 after purchasing an additional 1,470 shares in the last quarter. 89.07% of the stock is owned by hedge funds and other institutional investors.

Ross Stores Company Profile

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Ross Stores, Inc engages in the operation of off-price retail apparel and home accessories stores. Its products include branded and designer apparel, accessories, footwear, and home fashions through the Dress for Less and dd’s DISCOUNTS brands. The company was founded by Stuart G. Moldaw in 1957 and is headquartered in Dublin, CA.