Ross Stores (NASDAQ:ROST) Price Target Cut to $156.00 by Analysts at BMO Capital Markets

Ross Stores (NASDAQ:ROST) had its target price decreased by stock analysts at BMO Capital Markets from $168.00 to $156.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has an “outperform” rating on the apparel retailer’s stock. BMO Capital Markets’ price target suggests a potential upside of 13.40% from the stock’s previous close.

Several other equities research analysts also recently commented on the stock. Morgan Stanley reduced their price target on shares of Ross Stores from $140.00 to $130.00 and set an “equal weight” rating for the company in a research report on Wednesday. Wells Fargo & Company lowered their price target on Ross Stores from $165.00 to $140.00 and set an “equal weight” rating on the stock in a report on Wednesday. JPMorgan Chase & Co. increased their price objective on Ross Stores from $171.00 to $173.00 and gave the stock an “overweight” rating in a research note on Friday, November 22nd. Evercore ISI lowered their target price on Ross Stores from $175.00 to $170.00 and set an “outperform” rating on the stock in a research note on Wednesday. Finally, TD Cowen dropped their target price on Ross Stores from $185.00 to $177.00 and set a “buy” rating on the stock in a report on Tuesday, November 19th. Eight investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $163.24.

Ross Stores Price Performance

Shares of ROST traded up $1.60 during trading hours on Wednesday, hitting $137.57. 1,182,415 shares of the company were exchanged, compared to its average volume of 2,404,237. The firm has a fifty day simple moving average of $146.27 and a 200-day simple moving average of $147.70. The company has a market capitalization of $45.39 billion, a PE ratio of 21.69, a PEG ratio of 2.13 and a beta of 1.10. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.57 and a quick ratio of 0.98. Ross Stores has a one year low of $127.53 and a one year high of $163.60.

Ross Stores (NASDAQ:ROST) last released its quarterly earnings results on Tuesday, March 4th. The apparel retailer reported $1.79 earnings per share for the quarter, beating analysts’ consensus estimates of $1.65 by $0.14. The business had revenue of $5.91 billion during the quarter, compared to analyst estimates of $5.95 billion. Ross Stores had a return on equity of 41.83% and a net margin of 9.95%. As a group, sell-side analysts predict that Ross Stores will post 6.17 earnings per share for the current year.

Hedge Funds Weigh In On Ross Stores

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Norges Bank bought a new position in Ross Stores during the 4th quarter valued at about $649,318,000. Price T Rowe Associates Inc. MD boosted its holdings 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 in the last quarter. Wealthfront Advisers LLC boosted 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 acquiring an additional 2,352,543 shares in the last quarter. Madison Investment Advisors LLC bought a new position in Ross Stores in the 4th quarter valued at $230,204,000. Finally, Wellington Management Group LLP boosted its stake in Ross Stores by 64.0% in the third quarter. Wellington Management Group LLP now owns 3,862,684 shares of the apparel retailer’s stock worth $581,373,000 after purchasing an additional 1,507,922 shares in the last quarter. 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.