Ross Stores (NASDAQ:ROST) Sets New 12-Month High Following Analyst Upgrade

Ross Stores, Inc. (NASDAQ:ROST) shares hit a new 52-week high on Wednesday after Telsey Advisory Group raised their price target on the stock from $175.00 to $220.00. Telsey Advisory Group currently has a market perform rating on the stock. Ross Stores traded as high as $204.85 and last traded at $203.16, with a volume of 294444 shares changing hands. The stock had previously closed at $200.55.

ROST has been the topic of several other research reports. Robert W. Baird set a $200.00 price objective on shares of Ross Stores in a research note on Wednesday, December 17th. UBS Group boosted their price target on shares of Ross Stores from $181.00 to $199.00 and gave the company a “neutral” rating in a report on Tuesday, February 17th. Sanford C. Bernstein reiterated a “market perform” rating and set a $180.00 price objective on shares of Ross Stores in a report on Monday. Zacks Research upgraded Ross Stores from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 12th. Finally, The Goldman Sachs Group upped their target price on Ross Stores from $190.00 to $214.00 and gave the stock a “buy” rating in a research report on Tuesday, February 10th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $195.78.

Institutional Trading of Ross Stores

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. MidFirst Bank bought a new position in shares of Ross Stores in the 4th quarter valued at approximately $406,000. SG Trading Solutions LLC bought a new stake in Ross Stores during the fourth quarter worth approximately $991,000. Pacer Advisors Inc. grew its holdings in 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. bought a new position in shares of Ross Stores in the fourth quarter valued at approximately $93,000. Finally, Vinland Capital Management Gestora de Recursos LTDA. acquired a new stake in shares of Ross Stores in the fourth quarter worth $158,000. Institutional investors and hedge funds own 86.86% of the company’s stock.

Ross Stores Price Performance

The company has a debt-to-equity ratio of 0.17, a current ratio of 1.52 and a quick ratio of 0.90. The stock’s 50 day moving average price is $189.68 and its two-hundred day moving average price is $169.26. The firm has a market capitalization of $65.18 billion, a price-to-earnings ratio of 31.49, a PEG ratio of 3.47 and a beta of 0.99.

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.