Evercore ISI Cuts Ross Stores (NASDAQ:ROST) Price Target to $160.00

Ross Stores (NASDAQ:ROST - Get Free Report) had its price target cut by research analysts at Evercore ISI from $170.00 to $160.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has an "outperform" rating on the apparel retailer's stock. Evercore ISI's price target would suggest a potential upside of 22.07% from the company's current price.

ROST has been the subject of a number of other reports. BMO Capital Markets cut their price objective on Ross Stores from $168.00 to $156.00 and set an "outperform" rating for the company in a research report on Wednesday, March 5th. Loop Capital reduced their price objective on shares of Ross Stores from $190.00 to $175.00 and set a "buy" rating for the company in a research report on Wednesday, March 5th. Wall Street Zen lowered shares of Ross Stores from a "buy" rating to a "hold" rating in a research report on Wednesday. Wells Fargo & Company lifted their target price on shares of Ross Stores from $150.00 to $155.00 and gave the stock an "overweight" rating in a report on Wednesday, May 14th. Finally, Barclays increased their price target on shares of Ross Stores from $150.00 to $157.00 and gave the company an "overweight" rating in a report on Monday, May 12th. Five analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, Ross Stores presently has a consensus rating of "Moderate Buy" and a consensus price target of $159.53.

Ross Stores Stock Down 13.9%

Shares of NASDAQ:ROST traded down $21.18 during trading on Friday, hitting $131.07. 4,295,296 shares of the company were exchanged, compared to its average volume of 2,659,673. Ross Stores has a fifty-two week low of $122.36 and a fifty-two week high of $163.60. The stock has a market cap of $43.10 billion, a price-to-earnings ratio of 20.47, a P/E/G ratio of 2.13 and a beta of 1.17. The company has a current ratio of 1.57, a quick ratio of 0.98 and a debt-to-equity ratio of 0.29. The firm has a fifty day moving average price of $137.92 and a two-hundred day moving average price of $142.98.

Ross Stores (NASDAQ:ROST - Get Free Report) last issued its earnings results on Thursday, May 22nd. The apparel retailer reported $1.47 earnings per share for the quarter, topping analysts' consensus estimates of $1.44 by $0.03. The business had revenue of $4.98 billion for the quarter, compared to the consensus estimate of $4.94 billion. Ross Stores had a net margin of 9.95% and a return on equity of 41.83%. The firm's revenue for the quarter was up 2.6% on a year-over-year basis. During the same period in the previous year, the company earned $1.46 earnings per share. As a group, research analysts anticipate that Ross Stores will post 6.17 earnings per share for the current fiscal year.

Insider Buying and Selling at Ross Stores

In other Ross Stores news, Chairman Michael Balmuth sold 11,261 shares of the business's stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $131.60, for a total transaction of $1,481,947.60. Following the completion of the transaction, the chairman now owns 59,790 shares of the company's stock, valued at approximately $7,868,364. The trade was a 15.85% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CMO Karen Fleming sold 5,339 shares of the firm's stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $125.73, for a total transaction of $671,272.47. Following the completion of the sale, the chief marketing officer now owns 94,063 shares in the company, valued at approximately $11,826,540.99. The trade was a 5.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 34,398 shares of company stock valued at $4,439,950. 2.20% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Ross Stores

Several institutional investors and hedge funds have recently added to or reduced their stakes in ROST. Larson Financial Group LLC grew its stake in shares of Ross Stores by 152.9% during the fourth quarter. Larson Financial Group LLC now owns 177 shares of the apparel retailer's stock worth $27,000 after buying an additional 107 shares during the last quarter. Golden State Wealth Management LLC boosted its holdings in shares of Ross Stores by 50.7% during the 1st quarter. Golden State Wealth Management LLC now owns 217 shares of the apparel retailer's stock valued at $28,000 after acquiring an additional 73 shares in the last quarter. Banque Transatlantique SA bought a new stake in Ross Stores during the 1st quarter worth $29,000. BOK Financial Private Wealth Inc. acquired a new position in Ross Stores in the 4th quarter worth about $31,000. Finally, Bayforest Capital Ltd boosted its stake 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 purchasing an additional 190 shares in the last quarter. Institutional investors 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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