StockNews.com Downgrades Ross Stores (NASDAQ:ROST) to Hold

Ross Stores (NASDAQ:ROST - Get Free Report) was downgraded by stock analysts at StockNews.com from a "buy" rating to a "hold" rating in a report issued on Wednesday.

Several other research firms also recently weighed in on ROST. Wells Fargo & Company boosted their target price on shares of Ross Stores from $150.00 to $155.00 and gave the stock an "overweight" rating in a research report on Wednesday, May 14th. Telsey Advisory Group reaffirmed a "market perform" rating and issued a $150.00 price target on shares of Ross Stores in a report on Friday, May 16th. Robert W. Baird decreased their price target on shares of Ross Stores from $175.00 to $160.00 and set an "outperform" rating for the company in a report on Wednesday, March 5th. Citigroup raised shares of Ross Stores from a "neutral" rating to a "buy" rating and set a $146.00 price target for the company in a report on Thursday, April 3rd. Finally, BMO Capital Markets decreased their price target on shares of Ross Stores from $168.00 to $156.00 and set an "outperform" rating for the company in a report on Wednesday, March 5th. Five investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $161.53.

Ross Stores Price Performance

ROST opened at $154.24 on Wednesday. The company has a 50-day moving average of $136.81 and a 200-day moving average of $142.83. The company has a market capitalization of $50.72 billion, a P/E ratio of 24.29, a PEG ratio of 2.13 and a beta of 1.17. Ross Stores has a 1-year low of $122.36 and a 1-year high of $163.60. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.98 and a current ratio of 1.57.

Ross Stores (NASDAQ:ROST - Get Free Report) last released its earnings results on Tuesday, March 4th. The apparel retailer reported $1.79 earnings per share for the quarter, topping the consensus estimate of $1.65 by $0.14. The company had revenue of $5.91 billion during the quarter, compared to the consensus estimate of $5.95 billion. Ross Stores had a net margin of 9.95% and a return on equity of 41.83%. Equities analysts expect that Ross Stores will post 6.17 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CMO Karen Fleming sold 5,339 shares of the company'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 value of $671,272.47. Following the completion of the sale, the chief marketing officer now directly owns 94,063 shares of the company's stock, valued at approximately $11,826,540.99. This represents a 5.37% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Chairman Michael Balmuth sold 11,261 shares of the company's stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $131.60, for a total transaction of $1,481,947.60. Following the completion of the sale, the chairman now directly owns 59,790 shares of the company's stock, valued at approximately $7,868,364. This represents a 15.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 34,398 shares of company stock worth $4,439,950. Insiders own 2.20% of the company's stock.

Institutional Trading of Ross Stores

A number of institutional investors have recently made changes to their positions in ROST. Vanguard Group Inc. lifted its stake in shares of Ross Stores by 17.0% in the 1st quarter. Vanguard Group Inc. now owns 34,121,706 shares of the apparel retailer's stock worth $4,360,413,000 after acquiring an additional 4,946,101 shares during the period. Norges Bank acquired a new stake in shares of Ross Stores in the 4th quarter worth approximately $649,318,000. Price T Rowe Associates Inc. MD lifted its stake in shares of Ross Stores by 25.7% in the 4th 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 period. Wealthfront Advisers LLC raised its holdings in shares of Ross Stores by 8,209.0% in the 4th quarter. Wealthfront Advisers LLC now owns 2,381,201 shares of the apparel retailer's stock worth $360,204,000 after purchasing an additional 2,352,543 shares in the last quarter. Finally, Madison Investment Advisors LLC bought a new stake in shares of Ross Stores in the 4th quarter worth approximately $230,204,000. 86.86% of the stock is owned by institutional investors and hedge funds.

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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