Loop Capital upgraded shares of Ross Stores (NASDAQ:ROST) to a buy rating in a report issued on Friday morning, TipRanks reports. The firm currently has $120.00 price target on the apparel retailer’s stock.

Other research analysts also recently issued reports about the company. Telsey Advisory Group downgraded Ross Stores from an outperform rating to a market perform rating and set a $103.00 price objective for the company. in a report on Monday, June 24th. Guggenheim reiterated a buy rating and set a $105.00 price objective on shares of Ross Stores in a report on Friday, May 24th. Goldman Sachs Group downgraded Ross Stores from a neutral rating to a sell rating and decreased their price objective for the stock from $102.00 to $91.00 in a report on Thursday, June 27th. Zacks Investment Research upgraded Ross Stores from a sell rating to a hold rating in a report on Monday, May 13th. Finally, BidaskClub upgraded Ross Stores from a buy rating to a strong-buy rating in a report on Wednesday, August 7th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Ross Stores has an average rating of Buy and a consensus target price of $99.32.

Shares of NASDAQ:ROST traded up $0.91 during mid-day trading on Friday, reaching $104.09. 1,697,127 shares of the stock were exchanged, compared to its average volume of 2,259,475. The company has a quick ratio of 0.64, a current ratio of 1.34 and a debt-to-equity ratio of 0.87. The company has a market cap of $36.98 billion, a P/E ratio of 24.43, a P/E/G ratio of 2.16 and a beta of 0.89. Ross Stores has a one year low of $75.91 and a one year high of $108.20. The stock’s 50 day simple moving average is $103.99 and its 200-day simple moving average is $97.67.

Ross Stores (NASDAQ:ROST) last posted its quarterly earnings data on Thursday, May 23rd. The apparel retailer reported $1.13 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.12 by $0.01. The business had revenue of $3.80 billion during the quarter, compared to the consensus estimate of $3.79 billion. Ross Stores had a return on equity of 48.92% and a net margin of 10.47%. Ross Stores’s quarterly revenue was up 5.8% on a year-over-year basis. During the same period last year, the company earned $1.11 earnings per share. Analysts anticipate that Ross Stores will post 4.51 EPS for the current fiscal year.

In related news, Chairman Michael Balmuth sold 81,049 shares of Ross Stores stock in a transaction that occurred on Friday, May 31st. The stock was sold at an average price of $92.87, for a total transaction of $7,527,020.63. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider James S. Fassio sold 85,238 shares of Ross Stores stock in a transaction that occurred on Friday, July 12th. The stock was sold at an average price of $104.85, for a total value of $8,937,204.30. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 296,287 shares of company stock valued at $29,806,735. Insiders own 2.30% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD lifted its holdings in Ross Stores by 16.6% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 22,522,025 shares of the apparel retailer’s stock worth $2,232,384,000 after purchasing an additional 3,204,917 shares during the last quarter. Invesco Ltd. lifted its holdings in Ross Stores by 1.9% during the 2nd quarter. Invesco Ltd. now owns 6,308,912 shares of the apparel retailer’s stock worth $625,339,000 after purchasing an additional 119,001 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Ross Stores by 8.1% during the 4th quarter. Geode Capital Management LLC now owns 6,088,490 shares of the apparel retailer’s stock worth $505,856,000 after purchasing an additional 456,445 shares during the last quarter. Northern Trust Corp increased its stake in Ross Stores by 0.4% during the 2nd quarter. Northern Trust Corp now owns 4,848,687 shares of the apparel retailer’s stock worth $480,602,000 after acquiring an additional 20,027 shares during the period. Finally, California Public Employees Retirement System increased its stake in Ross Stores by 18.6% during the 2nd quarter. California Public Employees Retirement System now owns 2,858,497 shares of the apparel retailer’s stock worth $283,334,000 after acquiring an additional 447,581 shares during the period. 88.16% of the stock is owned by institutional investors and hedge funds.

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 brands. Its stores primarily offers apparel, accessories, footwear, and home fashions. The company's Ross Dress for Less stores sell its products at department and specialty stores primarily to middle income households; and dd's DISCOUNTS stores sell its products at department and discount stores regular prices to customers from households with moderate income.

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Analyst Recommendations for Ross Stores (NASDAQ:ROST)

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