Ross Stores (NASDAQ:ROST) Price Target Lowered to $126.00 at Morgan Stanley

Ross Stores (NASDAQ:ROST - Get Free Report) had its target price reduced by research analysts at Morgan Stanley from $128.00 to $126.00 in a report released on Friday,Benzinga reports. The brokerage currently has an "equal weight" rating on the apparel retailer's stock. Morgan Stanley's target price would indicate a potential downside of 3.04% from the company's previous close.

Several other research firms have also recently issued reports on ROST. Wall Street Zen cut shares of Ross Stores from a "buy" rating to a "hold" rating in a report on Wednesday. Robert W. Baird dropped their target price on Ross Stores from $175.00 to $160.00 and set an "outperform" rating on the stock in a research report on Wednesday, March 5th. UBS Group reduced their price target on Ross Stores from $168.00 to $163.00 and set a "neutral" rating for the company in a report on Wednesday, March 5th. Loop Capital dropped their price objective on Ross Stores from $190.00 to $175.00 and set a "buy" rating on the stock in a report on Wednesday, March 5th. Finally, Citigroup upgraded Ross Stores from a "neutral" rating to a "buy" rating and set a $146.00 price objective for the company 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 given a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $159.33.

Ross Stores Stock Performance

Shares of Ross Stores stock traded down $22.29 during trading hours on Friday, hitting $129.96. 5,148,643 shares of the company were exchanged, compared to its average volume of 2,661,870. 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 business has a 50-day moving average of $137.92 and a 200-day moving average of $142.98. Ross Stores has a 1 year low of $122.36 and a 1 year high of $163.60. The stock has a market capitalization of $42.73 billion, a price-to-earnings ratio of 20.52, a P/E/G ratio of 2.13 and a beta of 1.17.

Ross Stores (NASDAQ:ROST - Get Free Report) last announced its quarterly earnings data on Thursday, May 22nd. The apparel retailer reported $1.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.44 by $0.03. The company had revenue of $4.98 billion for the quarter, compared to analysts' expectations of $4.94 billion. Ross Stores had a net margin of 9.95% and a return on equity of 41.83%. Ross Stores's revenue was up 2.6% compared to the same quarter last year. During the same period in the previous year, the company posted $1.46 EPS. As a group, analysts expect that Ross Stores will post 6.17 EPS 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 firm's stock in a transaction dated Wednesday, April 2nd. The shares were 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 directly owns 59,790 shares in the company, valued at approximately $7,868,364. This trade represents a 15.85% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CMO Karen Sykes sold 5,036 shares of Ross Stores stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $130.48, for a total transaction of $657,097.28. Following the transaction, the chief marketing officer now owns 110,365 shares of the company's stock, valued at approximately $14,400,425.20. The trade was a 4.36% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 34,398 shares of company stock valued at $4,439,950. Insiders own 2.20% of the company's stock.

Institutional Trading of Ross Stores

Several large investors have recently modified their holdings of the business. Vanguard Group Inc. raised its position in shares of Ross Stores by 17.0% during the 1st quarter. Vanguard Group Inc. now owns 34,121,706 shares of the apparel retailer's stock worth $4,360,413,000 after purchasing an additional 4,946,101 shares during the last quarter. Norges Bank purchased a new position in Ross Stores during the fourth quarter worth $649,318,000. Price T Rowe Associates Inc. MD raised its holdings in shares of Ross Stores by 25.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 19,515,891 shares of the apparel retailer's stock worth $2,952,170,000 after acquiring an additional 3,995,760 shares during the last quarter. Wealthfront Advisers LLC lifted its position in shares of Ross Stores by 8,209.0% in the fourth quarter. Wealthfront Advisers LLC now owns 2,381,201 shares of the apparel retailer's stock valued at $360,204,000 after acquiring an additional 2,352,543 shares in the last quarter. Finally, Madison Investment Advisors LLC purchased a new stake in shares of Ross Stores in the fourth quarter valued at $230,204,000. 86.86% of the stock is currently 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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