JPMorgan Chase & Co. Issues Positive Forecast for Ross Stores (NASDAQ:ROST) Stock Price

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

Several other research firms have also issued reports on ROST. Erste Group Bank began coverage on Ross Stores in a report on Friday, October 31st. They set a “buy” rating on the stock. Zacks Research upgraded shares of Ross Stores from a “hold” rating to a “strong-buy” rating in a report on Monday, January 12th. TD Cowen reaffirmed a “buy” rating on shares of Ross Stores in a report on Thursday, December 4th. Citigroup upped their price objective on shares of Ross Stores from $188.00 to $224.00 and gave the company a “buy” rating in a research note on Tuesday, February 10th. Finally, Evercore boosted their price target on Ross Stores from $175.00 to $195.00 and gave the company an “outperform” rating in a research note on Friday, November 21st. Two research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $193.28.

Ross Stores Stock Up 0.2%

ROST opened at $201.89 on Monday. The stock has a fifty day moving average of $188.94 and a 200-day moving average of $168.64. The company has a market capitalization of $65.30 billion, a P/E ratio of 31.55, a P/E/G ratio of 3.49 and a beta of 0.99. Ross Stores has a fifty-two week low of $122.36 and a fifty-two week high of $203.31. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.90 and a current ratio of 1.52.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in ROST. Aspect Partners LLC raised its holdings 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 worth $26,000 after acquiring an additional 146 shares during the last quarter. American National Bank & Trust bought a new stake in Ross Stores during the 3rd quarter worth approximately $26,000. Thurston Springer Miller Herd & Titak Inc. raised its stake in shares of 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 during the last quarter. Hilton Head Capital Partners LLC bought a new position in shares of Ross Stores in the fourth quarter valued at approximately $26,000. Finally, Grey Fox Wealth Advisors LLC purchased a new position in shares of Ross Stores during the third quarter valued at approximately $29,000. 86.86% of the stock is owned by institutional investors.

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.