Ross Stores (NASDAQ:ROST) Cut to “Hold” at Zacks Research

by · The Markets Daily

Ross Stores (NASDAQ:ROST – Get Free Report) was downgraded by equities research analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research note issued to investors on Monday,Zacks.com reports.

Other analysts have also recently issued research reports about the stock. Wall Street Zen raised shares of Ross Stores from a “hold” rating to a “buy” rating in a research note on Saturday, November 15th. Weiss Ratings reiterated a “buy (b)” rating on shares of Ross Stores in a research report on Friday, January 9th. Sanford C. Bernstein reissued a “market perform” rating and issued a $180.00 price target on shares of Ross Stores in a research note on Monday, February 23rd. Wells Fargo & Company lifted their price objective on Ross Stores from $180.00 to $200.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 16th. Finally, Evercore upped their target price on Ross Stores from $175.00 to $195.00 and gave the company an “outperform” rating in a report on Friday, November 21st. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $196.67.

Get Our Latest Stock Analysis on ROST

Ross Stores Stock Performance

Shares of ROST stock opened at $197.64 on Monday. The firm has a market capitalization of $63.93 billion, a price-to-earnings ratio of 30.88, a PEG ratio of 3.52 and a beta of 0.97. The company has a current ratio of 1.52, a quick ratio of 0.90 and a debt-to-equity ratio of 0.17. The business’s 50-day moving average price is $191.34 and its 200-day moving average price is $170.94. Ross Stores has a 12 month low of $122.36 and a 12 month high of $206.40.

Ross Stores (NASDAQ:ROST – Get Free Report) last issued its quarterly earnings data on Tuesday, March 3rd. The apparel retailer reported $2.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.90 by $0.10. Ross Stores had a net margin of 9.47% and a return on equity of 36.75%. The business had revenue of $6.64 billion during the quarter, compared to analyst estimates of $6.42 billion. During the same quarter last year, the business earned $1.65 EPS. The firm’s quarterly revenue was up 12.2% on a year-over-year basis. Equities research analysts forecast that Ross Stores will post 6.17 EPS for the current year.

Institutional Investors Weigh In On Ross Stores

Several large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in Ross Stores by 14.8% in the second quarter. Vanguard Group Inc. now owns 39,182,660 shares of the apparel retailer’s stock valued at $4,998,924,000 after buying an additional 5,060,954 shares during the period. State Street Corp increased its stake in shares of Ross Stores by 0.4% in the 2nd quarter. State Street Corp now owns 13,974,551 shares of the apparel retailer’s stock valued at $1,782,873,000 after acquiring an additional 61,168 shares in the last quarter. Primecap Management Co. CA lifted its position in shares of Ross Stores by 0.5% during the 2nd quarter. Primecap Management Co. CA now owns 10,268,700 shares of the apparel retailer’s stock valued at $1,310,081,000 after acquiring an additional 51,765 shares during the period. Bank of America Corp DE boosted its stake in Ross Stores by 1.9% during the third quarter. Bank of America Corp DE now owns 9,762,583 shares of the apparel retailer’s stock worth $1,487,720,000 after acquiring an additional 180,182 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in Ross Stores by 1.6% in the second quarter. Geode Capital Management LLC now owns 8,673,823 shares of the apparel retailer’s stock worth $1,102,077,000 after purchasing an additional 133,005 shares during the period. Institutional investors and hedge funds own 86.86% of the company’s stock.

Trending Headlines about Ross Stores

Here are the key news stories impacting Ross Stores this week:

Ross Stores Company Profile

(Get Free Report)

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.

Recommended Stories