Ross Stores (NASDAQ:ROST) Earns Buy (B) Rating from Weiss Ratings

Key Points

• Ross Stores (NASDAQ:ROST) received a "buy (B)" rating from Weiss Ratings, with additional buy ratings from several other analysts, indicating strong investor confidence in the stock.
• The stock's price target has been raised by multiple firms, with Wells Fargo increasing it from $165 to $175, while Robert W. Baird set a target of $170.
• Ross Stores reported earnings of $1.56 per share, exceeding expectations, and demonstrated a year-over-year revenue growth of 4.6% for the last quarter.

Ross Stores (NASDAQ:ROST - Get Free Report)'s stock had its "buy (b)" rating reiterated by research analysts at Weiss Ratings in a research note issued on Tuesday,Weiss Ratings reports.

Other equities research analysts have also issued research reports about the stock. Cowen restated a "buy" rating on shares of Ross Stores in a report on Friday, August 22nd. Wells Fargo & Company raised their price target on shares of Ross Stores from $165.00 to $175.00 and gave the stock an "overweight" rating in a research note on Thursday, August 28th. JPMorgan Chase & Co. raised their price target on shares of Ross Stores from $156.00 to $160.00 and gave the stock an "overweight" rating in a research note on Friday, August 22nd. Robert W. Baird raised their price target on shares of Ross Stores from $160.00 to $170.00 and gave the stock an "outperform" rating in a research note on Friday, August 22nd. Finally, Telsey Advisory Group reaffirmed a "market perform" rating and issued a $160.00 price target (up previously from $150.00) on shares of Ross Stores in a research note on Monday, August 18th. Thirteen investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat.com, Ross Stores currently has an average rating of "Moderate Buy" and an average price target of $162.33.

Ross Stores Trading Up 0.8%

Shares of Ross Stores stock traded up $1.28 during trading on Tuesday, hitting $156.05. The stock had a trading volume of 768,709 shares, compared to its average volume of 3,020,764. The firm's fifty day simple moving average is $148.83 and its 200-day simple moving average is $141.17. The stock has a market cap of $50.75 billion, a PE ratio of 24.77, a PEG ratio of 2.84 and a beta of 1.18. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.58 and a quick ratio of 0.98. Ross Stores has a 12 month low of $122.36 and a 12 month high of $158.69.

Ross Stores (NASDAQ:ROST - Get Free Report) last released its earnings results on Thursday, August 21st. The apparel retailer reported $1.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.54 by $0.02. The firm had revenue of $5.53 billion during the quarter, compared to analyst estimates of $5.54 billion. Ross Stores had a net margin of 9.60% and a return on equity of 37.37%. The business's revenue was up 4.6% on a year-over-year basis. During the same quarter last year, the business earned $1.59 EPS. As a group, sell-side analysts expect that Ross Stores will post 6.17 EPS for the current fiscal year.

Insider Activity

In other news, CMO Karen Sykes sold 4,000 shares of the firm's stock in a transaction dated Thursday, September 4th. The shares were sold at an average price of $151.76, for a total value of $607,040.00. Following the sale, the chief marketing officer directly owned 106,413 shares in the company, valued at approximately $16,149,236.88. This trade represents a 3.62% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Stephen C. Brinkley sold 6,437 shares of the firm's stock in a transaction dated Wednesday, October 8th. The shares were sold at an average price of $150.97, for a total transaction of $971,793.89. Following the completion of the sale, the insider owned 57,012 shares in the company, valued at $8,607,101.64. This represents a 10.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 52,720 shares of company stock valued at $7,761,212 over the last 90 days. 2.20% of the stock is currently owned by corporate insiders.

Institutional Trading of Ross Stores

Institutional investors have recently modified their holdings of the company. Aspect Partners LLC boosted its holdings in shares of 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 buying an additional 146 shares in the last quarter. Golden State Wealth Management LLC boosted its stake 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 worth $28,000 after purchasing an additional 73 shares in the last quarter. Bayforest Capital Ltd boosted its stake in Ross Stores by 372.5% in the 1st quarter. Bayforest Capital Ltd now owns 241 shares of the apparel retailer's stock worth $31,000 after purchasing an additional 190 shares in the last quarter. Banque Transatlantique SA acquired a new stake in Ross Stores in the 1st quarter worth approximately $29,000. Finally, Tradewinds Capital Management LLC boosted its stake in Ross Stores by 36.6% in the 1st quarter. Tradewinds Capital Management LLC now owns 280 shares of the apparel retailer's stock worth $36,000 after purchasing an additional 75 shares in the last quarter. 86.86% of the stock is currently 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.

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