Ross Stores (NASDAQ:ROST) Upgraded to Buy at Wall Street Zen

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

Other equities analysts also recently issued research reports about the stock. Barclays upped their price objective on shares of Ross Stores from $156.00 to $164.00 and gave the stock an “overweight” rating in a research report on Friday, August 22nd. UBS Group raised their price objective on shares of Ross Stores from $147.00 to $163.00 and gave the company a “neutral” rating in a research report on Wednesday, November 5th. Erste Group Bank initiated coverage on Ross Stores in a research report on Friday, October 31st. They set a “buy” rating on the stock. Weiss Ratings reissued a “buy (b)” rating on shares of Ross Stores in a research note on Tuesday, October 14th. Finally, TD Cowen lifted their price target on Ross Stores from $170.00 to $174.00 and gave the company a “buy” rating in a research note on Monday, November 10th. Fourteen research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $163.53.

Ross Stores Stock Down 0.8%

Shares of NASDAQ:ROST opened at $160.58 on Friday. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.58 and a quick ratio of 0.98. The stock has a market cap of $52.22 billion, a P/E ratio of 25.49, a P/E/G ratio of 3.04 and a beta of 1.16. Ross Stores has a 1-year low of $122.36 and a 1-year high of $165.07. The firm has a fifty day moving average price of $154.32 and a 200 day moving average price of $145.05.

Ross Stores (NASDAQ:ROST) last announced its earnings results on Thursday, August 21st. The apparel retailer reported $1.56 earnings per share for the quarter, topping the consensus estimate of $1.54 by $0.02. Ross Stores had a net margin of 9.60% and a return on equity of 37.37%. The business had revenue of $5.53 billion during the quarter, compared to the consensus estimate of $5.54 billion. During the same quarter in the prior year, the firm earned $1.59 earnings per share. The business’s quarterly revenue was up 4.6% compared to the same quarter last year. Sell-side analysts predict that Ross Stores will post 6.17 EPS for the current year.

Insider Buying and Selling at Ross Stores

In other Ross Stores news, CMO Karen Sykes sold 4,000 shares of the stock in a transaction on Thursday, September 4th. The stock was sold at an average price of $151.76, for a total transaction of $607,040.00. Following the sale, the chief marketing officer owned 106,413 shares in the company, valued at approximately $16,149,236.88. This represents a 3.62% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Stephen C. Brinkley sold 6,437 shares of the business’s stock in a transaction on Wednesday, October 8th. The stock was sold at an average price of $150.97, for a total value of $971,793.89. Following the completion of the transaction, the insider directly owned 57,012 shares of the company’s stock, valued at approximately $8,607,101.64. This trade represents a 10.15% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 52,720 shares of company stock valued at $7,761,212. Company insiders own 2.20% of the company’s stock.

Hedge Funds Weigh In On Ross Stores

A number of institutional investors have recently modified their holdings of ROST. American National Bank & Trust purchased a new position in shares of Ross Stores during the 3rd quarter worth $26,000. Grey Fox Wealth Advisors LLC acquired a new position in Ross Stores in the third quarter valued at $29,000. Aspect Partners LLC increased its stake in Ross Stores by 251.7% in the second quarter. Aspect Partners LLC now owns 204 shares of the apparel retailer’s stock valued at $26,000 after purchasing an additional 146 shares during the last quarter. E Fund Management Hong Kong Co. Ltd. lifted its position in Ross Stores by 162.6% during the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 239 shares of the apparel retailer’s stock worth $36,000 after buying an additional 148 shares during the period. Finally, Bayforest Capital Ltd boosted its stake in Ross Stores by 372.5% in the 1st quarter. Bayforest Capital Ltd now owns 241 shares of the apparel retailer’s stock worth $31,000 after buying an additional 190 shares during the last quarter. Institutional investors and hedge funds own 86.86% of the company’s stock.

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.