Barclays Issues Positive Forecast for Ross Stores (NASDAQ:ROST) Stock Price

Key Points

• Barclays has raised its target price for Ross Stores from $156 to $164, indicating a potential upside of 12.62%, while maintaining an "overweight" rating on the stock.
• Ross Stores reported earnings per share (EPS) of $1.56, exceeding analysts' estimates, with a net margin of 9.79% and revenue of $5.53 billion for the latest quarter.
• Analysts have mixed ratings for Ross Stores, with one "Strong Buy," twelve "Buy," and four "Hold" ratings, leading to an average rating of "Moderate Buy" and a consensus price target of $160.50.

Ross Stores (NASDAQ:ROST - Get Free Report) had its target price boosted by analysts at Barclays from $156.00 to $164.00 in a report issued on Friday,Benzinga reports. The firm currently has an "overweight" rating on the apparel retailer's stock. Barclays's target price indicates a potential upside of 12.62% from the stock's previous close.

Several other equities analysts also recently commented on the stock. Morgan Stanley lowered their target price on shares of Ross Stores from $128.00 to $126.00 and set an "equal weight" rating on the stock in a report on Friday, May 23rd. JPMorgan Chase & Co. upped their price target on shares of Ross Stores from $154.00 to $156.00 and gave the stock an "overweight" rating in a report on Monday, July 28th. Evercore ISI dropped their target price on shares of Ross Stores from $170.00 to $160.00 and set an "outperform" rating on the stock in a report on Friday, May 23rd. Loop Capital decreased their price target on shares of Ross Stores from $175.00 to $170.00 and set a "buy" rating for the company in a research report on Friday, May 23rd. Finally, Telsey Advisory Group reissued a "market perform" rating and set a $150.00 price target on shares of Ross Stores in a research report on Monday. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat, Ross Stores has an average rating of "Moderate Buy" and a consensus price target of $160.50.

Ross Stores Price Performance

Shares of Ross Stores stock opened at $145.62 on Friday. The company's fifty day simple moving average is $135.79 and its two-hundred day simple moving average is $137.24. Ross Stores has a 12-month low of $122.36 and a 12-month high of $163.60. The company has a quick ratio of 0.95, a current ratio of 1.55 and a debt-to-equity ratio of 0.18. The firm has a market cap of $47.63 billion, a PE ratio of 23.00, a price-to-earnings-growth ratio of 2.81 and a beta of 1.11.

Ross Stores (NASDAQ:ROST - Get Free Report) last issued its quarterly earnings results on Thursday, August 21st. The apparel retailer reported $1.56 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.54 by $0.02. Ross Stores had a net margin of 9.79% and a return on equity of 38.77%. The company had revenue of $5.53 billion during the quarter, compared to analysts' expectations of $5.54 billion. During the same period last year, the company posted $1.59 EPS. Ross Stores's revenue was up 4.6% on a year-over-year basis. As a group, equities analysts expect that Ross Stores will post 6.17 EPS for the current year.

Institutional Investors Weigh In On Ross Stores

A number of institutional investors have recently added to or reduced their stakes in the stock. Aspect Partners LLC lifted its holdings in Ross Stores by 251.7% in the 2nd quarter. Aspect Partners LLC now owns 204 shares of the apparel retailer's stock valued at $26,000 after purchasing an additional 146 shares in the last quarter. Golden State Wealth Management LLC raised its holdings in Ross Stores by 50.7% in the 1st quarter. Golden State Wealth Management LLC now owns 217 shares of the apparel retailer's stock valued at $28,000 after buying an additional 73 shares during the period. Banque Transatlantique SA acquired a new position in Ross Stores in the 1st quarter valued at about $29,000. Bayforest Capital Ltd grew its position 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 worth $31,000 after buying an additional 190 shares in the last quarter. Finally, Tradewinds Capital Management LLC grew its position in shares of Ross Stores by 36.6% during the first quarter. Tradewinds Capital Management LLC now owns 280 shares of the apparel retailer's stock worth $36,000 after buying an additional 75 shares in the last quarter. Institutional investors and hedge funds own 86.86% of the company's stock.

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.

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