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

Ross Stores, Inc. (NASDAQ:ROST) shares hit a new 52-week high during trading 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 traded. The stock had previously closed at $200.55.

ROST has been the subject of a number of other reports. Evercore increased their price objective on shares of Ross Stores from $175.00 to $195.00 and gave the stock an “outperform” rating in a research note on Friday, November 21st. JPMorgan Chase & Co. upped their target price on Ross Stores from $215.00 to $232.00 and gave the stock an “overweight” rating in a report on Monday. Bank of America raised their price target on Ross Stores from $175.00 to $200.00 and gave the company a “buy” rating in a research note on Friday, November 21st. Zacks Research raised Ross Stores from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 12th. Finally, UBS Group upped their price objective on Ross Stores from $181.00 to $199.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 17th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $195.78.

Institutional Investors Weigh In On Ross Stores

Hedge funds have recently added to or reduced their stakes in the business. Somerset Trust Co boosted its holdings in Ross Stores by 0.4% in the 4th quarter. Somerset Trust Co now owns 14,788 shares of the apparel retailer’s stock valued at $2,664,000 after purchasing an additional 55 shares during the period. Independent Advisor Alliance raised its position in shares of Ross Stores by 1.7% in the fourth quarter. Independent Advisor Alliance now owns 3,309 shares of the apparel retailer’s stock valued at $596,000 after buying an additional 55 shares in the last quarter. CYBER HORNET ETFs LLC boosted its stake in shares of Ross Stores by 6.1% in the fourth quarter. CYBER HORNET ETFs LLC now owns 954 shares of the apparel retailer’s stock valued at $172,000 after buying an additional 55 shares during the period. Florida Trust Wealth Management Co grew its position in Ross Stores by 1.7% during the fourth quarter. Florida Trust Wealth Management Co now owns 3,399 shares of the apparel retailer’s stock worth $612,000 after buying an additional 56 shares in the last quarter. Finally, MCF Advisors LLC grew its position in Ross Stores by 4.6% during the fourth quarter. MCF Advisors LLC now owns 1,292 shares of the apparel retailer’s stock worth $233,000 after buying an additional 57 shares in the last quarter. Institutional investors and hedge funds own 86.86% of the company’s stock.

Ross Stores Stock Performance

The stock has a market cap of $65.75 billion, a P/E ratio of 31.76, a price-to-earnings-growth ratio of 3.50 and a beta of 0.99. 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 stock has a 50 day simple moving average of $189.31 and a 200 day simple moving average of $169.03.

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.