Ross Stores (NASDAQ:ROST) Price Target Raised to $147.00

Key Points

• UBS Group has raised its price target for Ross Stores from $144.00 to $147.00, maintaining a "neutral" rating, indicating a potential downside of 0.67% from the previous close.
• Other analysts have varied price targets, with Wells Fargo increasing their target to $165.00 and Jefferies upgrading to a "buy" rating with a target of $150.00.
• Ross Stores reported a Q2 EPS of $1.56, slightly above analysts’ expectations, with revenues of $5.53 billion, a 4.6% increase year-over-year.

Ross Stores (NASDAQ:ROST - Get Free Report) had its price target boosted by stock analysts at UBS Group from $144.00 to $147.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage presently has a "neutral" rating on the apparel retailer's stock. UBS Group's price objective indicates a potential downside of 0.67% from the company's previous close.

A number of other equities research analysts have also issued reports on ROST. Morgan Stanley cut their price objective on shares of Ross Stores from $128.00 to $126.00 and set an "equal weight" rating for the company in a report on Friday, May 23rd. Wells Fargo & Company upped their price objective on Ross Stores from $150.00 to $165.00 and gave the company an "overweight" rating in a research report on Friday. Jefferies Financial Group upgraded Ross Stores from a "hold" rating to a "buy" rating and increased their price target for the company from $135.00 to $150.00 in a report on Wednesday, July 2nd. Loop Capital dropped their price objective on shares of Ross Stores from $175.00 to $170.00 and set a "buy" rating for the company in a research note on Friday, May 23rd. Finally, Barclays boosted their price objective on shares of Ross Stores from $156.00 to $164.00 and gave the company an "overweight" rating in a research report on Friday. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $159.50.

Ross Stores Price Performance

Shares of Ross Stores stock opened at $147.9910 on Friday. The stock has a market cap of $48.40 billion, a P/E ratio of 23.50, a P/E/G ratio of 2.81 and a beta of 1.11. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.95 and a current ratio of 1.55. The stock's fifty day moving average is $135.79 and its 200 day moving average is $137.24. 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 released its earnings results on Thursday, August 21st. The apparel retailer reported $1.56 EPS for the quarter, topping analysts' consensus estimates of $1.54 by $0.02. The company had revenue of $5.53 billion for the quarter, compared to analysts' expectations of $5.54 billion. Ross Stores had a net margin of 9.79% and a return on equity of 38.77%. The firm's revenue was up 4.6% compared to the same quarter last year. During the same quarter last year, the business earned $1.59 EPS. Sell-side analysts anticipate that Ross Stores will post 6.17 earnings per share for the current year.

Hedge Funds Weigh In On Ross Stores

Institutional investors have recently made changes to their positions in the company. ICW Investment Advisors LLC boosted its holdings in Ross Stores by 0.4% in the 1st quarter. ICW Investment Advisors LLC now owns 18,458 shares of the apparel retailer's stock worth $2,359,000 after buying an additional 67 shares during the last quarter. CreativeOne Wealth LLC increased its position in shares of Ross Stores by 3.8% during the first quarter. CreativeOne Wealth LLC now owns 1,932 shares of the apparel retailer's stock worth $247,000 after purchasing an additional 70 shares in the last quarter. Golden State Wealth Management LLC raised 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 valued at $28,000 after purchasing an additional 73 shares during the last quarter. Forum Financial Management LP lifted its holdings in Ross Stores by 5.3% in the 4th quarter. Forum Financial Management LP now owns 1,474 shares of the apparel retailer's stock valued at $223,000 after purchasing an additional 74 shares in the last quarter. Finally, First Horizon Advisors Inc. boosted its stake in Ross Stores by 6.1% during the 1st quarter. First Horizon Advisors Inc. now owns 1,280 shares of the apparel retailer's stock worth $164,000 after purchasing an additional 74 shares during the last quarter. Hedge funds and other institutional investors own 86.86% of the company's stock.

Ross Stores Company Profile

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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