JPMorgan Chase & Co. Has Lowered Expectations for Ross Stores (NASDAQ:ROST) Stock Price

Ross Stores (NASDAQ:ROST - Get Free Report) had its target price reduced by analysts at JPMorgan Chase & Co. from $161.00 to $141.00 in a research note issued on Friday,Benzinga reports. The brokerage currently has an "overweight" rating on the apparel retailer's stock. JPMorgan Chase & Co.'s target price points to a potential upside of 7.58% from the stock's previous close.

Other equities analysts also recently issued research reports about the company. Morgan Stanley cut their price objective on Ross Stores from $130.00 to $128.00 and set an "equal weight" rating on the stock in a research report on Tuesday, May 6th. Evercore ISI cut their price target on shares of Ross Stores from $170.00 to $160.00 and set an "outperform" rating on the stock in a report on Friday. Robert W. Baird reduced their price target on shares of Ross Stores from $175.00 to $160.00 and set an "outperform" rating on the stock in a research note on Wednesday, March 5th. BMO Capital Markets lowered their price objective on shares of Ross Stores from $168.00 to $156.00 and set an "outperform" rating for the company in a research report on Wednesday, March 5th. Finally, Citigroup raised shares of Ross Stores from a "neutral" rating to a "buy" rating and set a $146.00 target price on the stock in a research report on Thursday, April 3rd. Five research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $159.53.

Ross Stores Price Performance

Shares of ROST stock traded down $21.18 during trading hours on Friday, hitting $131.07. The stock had a trading volume of 4,295,296 shares, compared to its average volume of 2,659,673. The stock has a market capitalization of $43.10 billion, a price-to-earnings ratio of 20.47, a PEG ratio of 2.13 and a beta of 1.17. The stock's 50-day moving average price is $137.92 and its two-hundred day moving average price is $142.98. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.57 and a quick ratio of 0.98. Ross Stores has a one year low of $122.36 and a one year high of $163.60.

Ross Stores (NASDAQ:ROST - Get Free Report) last posted 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. Ross Stores had a net margin of 9.95% and a return on equity of 41.83%. The firm had revenue of $4.98 billion for the quarter, compared to the consensus estimate of $4.94 billion. During the same period in the previous year, the firm posted $1.46 EPS. The business's quarterly revenue was up 2.6% on a year-over-year basis. Equities analysts forecast that Ross Stores will post 6.17 EPS for the current year.

Insider Buying and Selling at Ross Stores

In related news, COO Michael J. Hartshorn sold 7,492 shares of the stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $127.69, for a total transaction of $956,653.48. Following the completion of the sale, the chief operating officer now owns 139,091 shares of the company's stock, valued at $17,760,529.79. This represents a 5.11% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 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 of the company's stock, valued at approximately $11,826,540.99. This trade represents a 5.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, 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

Large investors have recently made changes to their positions in the business. Larson Financial Group LLC grew its stake in Ross Stores by 152.9% during the 4th 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 Ross Stores by 50.7% in the first quarter. Golden State Wealth Management LLC now owns 217 shares of the apparel retailer's stock worth $28,000 after acquiring an additional 73 shares in the last quarter. Banque Transatlantique SA purchased a new stake in shares of Ross Stores during the first quarter worth about $29,000. BOK Financial Private Wealth Inc. acquired a new position in shares of Ross Stores during the fourth quarter valued at about $31,000. Finally, Bayforest Capital Ltd increased 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 in the last quarter. 86.86% of the stock is owned by institutional investors and hedge funds.

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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