Wells Fargo & Company Lowers Ross Stores (NASDAQ:ROST) Price Target to $150.00

Ross Stores (NASDAQ:ROST - Get Free Report) had its price objective decreased by equities researchers at Wells Fargo & Company from $155.00 to $150.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm presently has an "overweight" rating on the apparel retailer's stock. Wells Fargo & Company's price objective suggests a potential upside of 7.37% from the company's previous close.

Other research analysts also recently issued reports about the company. Telsey Advisory Group reissued a "market perform" rating and issued a $150.00 target price on shares of Ross Stores in a report on Friday, May 23rd. BMO Capital Markets reduced their target price on Ross Stores from $168.00 to $156.00 and set an "outperform" rating on the stock in a report on Wednesday, March 5th. Loop Capital reduced their price objective on Ross Stores from $175.00 to $170.00 and set a "buy" rating on the stock in a research note on Friday, May 23rd. JPMorgan Chase & Co. reduced their target price on shares of Ross Stores from $161.00 to $141.00 and set an "overweight" rating on the stock in a research report on Friday, May 23rd. Finally, UBS Group reduced their price objective 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, eleven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Ross Stores currently has an average rating of "Moderate Buy" and an average target price of $158.67.

Ross Stores Price Performance

NASDAQ ROST traded down $1.59 during trading on Friday, reaching $139.70. 3,594,457 shares of the company traded hands, compared to its average volume of 2,709,136. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.98 and a current ratio of 1.57. The stock's 50 day moving average price is $138.75 and its two-hundred day moving average price is $142.93. The company has a market cap of $45.94 billion, a price-to-earnings ratio of 22.00, a P/E/G 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.

Ross Stores (NASDAQ:ROST - Get Free Report) last announced its quarterly earnings results on Thursday, May 22nd. The apparel retailer reported $1.47 EPS for the quarter, beating the consensus estimate of $1.44 by $0.03. The business 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 41.83% and a net margin of 9.95%. Ross Stores's quarterly revenue was up 2.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.46 EPS. As a group, analysts anticipate that Ross Stores will post 6.17 EPS for the current year.

Insider Activity at Ross Stores

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

Institutional Investors Weigh In On Ross Stores

A number of hedge funds have recently modified their holdings of ROST. Larson Financial Group LLC raised its holdings in Ross Stores by 152.9% during the 4th quarter. Larson Financial Group LLC now owns 177 shares of the apparel retailer's stock worth $27,000 after buying an additional 107 shares during the period. Golden State Wealth Management LLC raised its holdings in Ross Stores by 50.7% during 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 period. Banque Transatlantique SA acquired a new stake in Ross Stores during the 1st quarter worth approximately $29,000. BOK Financial Private Wealth Inc. acquired a new stake in shares of Ross Stores during the fourth quarter worth $31,000. Finally, Bayforest Capital Ltd raised its holdings in shares of Ross Stores by 372.5% during the first quarter. Bayforest Capital Ltd now owns 241 shares of the apparel retailer's stock worth $31,000 after acquiring an additional 190 shares during the period. Institutional investors and hedge funds 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.