Ross Stores (NASDAQ:ROST) Raised to Buy at Jefferies Financial Group

Ross Stores (NASDAQ:ROST - Get Free Report) was upgraded by equities researchers at Jefferies Financial Group from a "hold" rating to a "buy" rating in a research note issued on Wednesday, MarketBeat reports. The firm presently has a $150.00 price objective on the apparel retailer's stock, up from their prior price objective of $135.00. Jefferies Financial Group's target price indicates a potential upside of 14.23% from the stock's previous close.

ROST has been the topic of a number of other research reports. Morgan Stanley decreased their price objective on shares of Ross Stores from $128.00 to $126.00 and set an "equal weight" rating on the stock in a report on Friday, May 23rd. Wall Street Zen cut shares of Ross Stores from a "buy" rating to a "hold" rating in a report on Wednesday, May 21st. Evercore ISI decreased their price target on Ross Stores from $170.00 to $160.00 and set an "outperform" rating on the stock in a research note on Friday, May 23rd. Loop Capital lowered their price target on Ross Stores from $175.00 to $170.00 and set a "buy" rating on the stock in a report on Friday, May 23rd. Finally, UBS Group lowered their target price on Ross Stores from $168.00 to $163.00 and set a "neutral" rating on the stock in a report on Wednesday, March 5th. Five equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $158.94.

Ross Stores Stock Performance

Shares of ROST stock traded down $0.21 during trading hours on Wednesday, reaching $131.31. 986,168 shares of the company's stock were exchanged, compared to its average volume of 2,781,066. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.55 and a quick ratio of 0.95. The company's 50 day moving average is $139.24 and its two-hundred day moving average is $140.22. The company has a market cap of $42.95 billion, a P/E ratio of 20.78, a price-to-earnings-growth ratio of 2.49 and a beta of 1.11. Ross Stores has a 1 year low of $122.36 and a 1 year high of $163.60.

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 for the quarter, topping analysts' consensus estimates of $1.44 by $0.03. The firm had revenue of $4.98 billion for the quarter, compared to analyst estimates of $4.94 billion. Ross Stores had a return on equity of 38.77% and a net margin of 9.79%. Ross Stores's quarterly revenue was up 2.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.46 earnings per share. Equities research analysts anticipate that Ross Stores will post 6.17 EPS for the current fiscal year.

Institutional Investors Weigh In On Ross Stores

Hedge funds and other institutional investors have recently modified their holdings of the company. ICW Investment Advisors LLC boosted its holdings in shares of Ross Stores by 0.4% during the first quarter. ICW Investment Advisors LLC now owns 18,458 shares of the apparel retailer's stock worth $2,359,000 after purchasing an additional 67 shares during the last quarter. CreativeOne Wealth LLC lifted its position in 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 buying an additional 70 shares during the period. 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 buying an additional 73 shares during the last quarter. Forum Financial Management LP grew 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 buying an additional 74 shares during the period. Finally, First Horizon Advisors Inc. increased its stake in shares of Ross Stores by 6.1% during the 1st quarter. First Horizon Advisors Inc. now owns 1,280 shares of the apparel retailer's stock valued at $164,000 after acquiring an additional 74 shares during the last quarter. 86.86% of the stock is currently owned by hedge funds and other institutional investors.

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.