Ross Stores’ (ROST) Market Perform Rating Reaffirmed at Telsey Advisory Group

Ross Stores (NASDAQ:ROST)‘s stock had its “market perform” rating reiterated by equities research analysts at Telsey Advisory Group in a note issued to investors on Thursday,Benzinga reports. They currently have a $160.00 price objective on the apparel retailer’s stock. Telsey Advisory Group’s target price points to a potential downside of 1.38% from the stock’s previous close.

Several other research analysts have also commented on the company. Cowen restated a “buy” rating on shares of Ross Stores in a research report on Friday, August 22nd. Robert W. Baird lifted their target price on Ross Stores from $160.00 to $170.00 and gave the company an “outperform” rating in a research note on Friday, August 22nd. Morgan Stanley raised their price target on Ross Stores from $128.00 to $130.00 and gave the company an “equal weight” rating in a report on Friday, August 22nd. JPMorgan Chase & Co. lifted their price objective on Ross Stores from $156.00 to $160.00 and gave the stock an “overweight” rating in a research report on Friday, August 22nd. Finally, Barclays increased their target price on Ross Stores from $156.00 to $164.00 and gave the company an “overweight” rating in a report on Friday, August 22nd. Fourteen equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, Ross Stores has an average rating of “Moderate Buy” and an average target price of $163.53.

Ross Stores Price Performance

Shares of NASDAQ ROST traded down $0.62 during mid-day trading on Thursday, reaching $162.23. The company’s stock had a trading volume of 664,405 shares, compared to its average volume of 2,918,281. The stock has a 50-day moving average of $153.95 and a two-hundred day moving average of $144.79. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.98 and a current ratio of 1.58. The stock has a market capitalization of $52.76 billion, a P/E ratio of 25.77, a P/E/G ratio of 3.04 and a beta of 1.16. Ross Stores has a 1-year low of $122.36 and a 1-year high of $165.07.

Ross Stores (NASDAQ:ROST) last announced its quarterly earnings data on Thursday, August 21st. The apparel retailer reported $1.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.54 by $0.02. Ross Stores had a net margin of 9.60% and a return on equity of 37.37%. The company had revenue of $5.53 billion during the quarter, compared to analysts’ expectations of $5.54 billion. During the same quarter in the prior year, the company earned $1.59 EPS. Ross Stores’s revenue was up 4.6% compared to the same quarter last year. On average, equities research analysts anticipate that Ross Stores will post 6.17 EPS for the current fiscal year.

Insider Buying and Selling at Ross Stores

In related news, insider Stephen C. Brinkley sold 6,437 shares of the business’s stock in a transaction dated Wednesday, October 8th. The stock was sold at an average price of $150.97, for a total value of $971,793.89. Following the transaction, the insider owned 57,012 shares in the company, valued at approximately $8,607,101.64. The trade was a 10.15% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CMO Karen Fleming sold 2,932 shares of the stock in a transaction on Thursday, September 25th. The shares were sold at an average price of $149.09, for a total transaction of $437,131.88. Following the transaction, the chief marketing officer owned 88,335 shares in the company, valued at $13,169,865.15. This trade represents a 3.21% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 52,720 shares of company stock valued at $7,761,212 in the last ninety days. Corporate insiders own 2.20% of the company’s stock.

Hedge Funds Weigh In On Ross Stores

Institutional investors have recently made changes to their positions in the stock. American National Bank & Trust bought a new position in Ross Stores during the 3rd quarter worth $26,000. Grey Fox Wealth Advisors LLC bought a new stake in Ross Stores in the third quarter worth about $29,000. Aspect Partners LLC boosted its holdings in Ross Stores by 251.7% during the second quarter. Aspect Partners LLC now owns 204 shares of the apparel retailer’s stock worth $26,000 after buying an additional 146 shares in the last quarter. E Fund Management Hong Kong Co. Ltd. grew its holdings in shares of Ross Stores by 162.6% in the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 239 shares of the apparel retailer’s stock worth $36,000 after acquiring an additional 148 shares during the last quarter. Finally, Bayforest Capital Ltd raised its holdings in shares of Ross Stores by 372.5% during the first quarter. Bayforest Capital Ltd now owns 241 shares of the apparel retailer’s stock valued at $31,000 after acquiring an additional 190 shares during the period. 86.86% of the stock is owned by institutional investors.

About Ross Stores

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 brand names in the United States. Its stores primarily offer apparel, accessories, footwear, and home fashions. The company’s Ross Dress for Less stores sell its products at department and specialty stores to middle income households; and dd’s DISCOUNTS stores sell its products at department and discount stores for households with moderate income.