Morgan Stanley Lowers Ross Stores (NASDAQ:ROST) Price Target to $128.00

Ross Stores (NASDAQ:ROST) had its price objective lowered by investment analysts at Morgan Stanley from $130.00 to $128.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm presently has an “equal weight” rating on the apparel retailer’s stock. Morgan Stanley’s target price would suggest a potential downside of 9.50% from the company’s current price.

ROST has been the subject of several other research reports. StockNews.com cut shares of Ross Stores from a “buy” rating to a “hold” rating in a research report on Tuesday, February 25th. Sanford C. Bernstein restated a “market perform” rating and issued a $165.00 price objective (down previously from $178.00) on shares of Ross Stores in a research report on Tuesday, January 7th. Telsey Advisory Group reduced their target price on Ross Stores from $175.00 to $150.00 and set a “market perform” rating on the stock in a report on Wednesday, March 5th. BMO Capital Markets lowered their price target on Ross Stores from $168.00 to $156.00 and set an “outperform” rating for the company in a report on Wednesday, March 5th. Finally, Evercore ISI cut their price objective on Ross Stores from $175.00 to $170.00 and set an “outperform” rating on the stock in a report on Wednesday, March 5th. Five research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $160.73.

Ross Stores Price Performance

Shares of NASDAQ ROST traded down $0.03 during trading on Tuesday, reaching $141.44. The company had a trading volume of 320,949 shares, compared to its average volume of 2,643,942. Ross Stores has a 52 week low of $122.36 and a 52 week high of $163.60. The business’s 50 day moving average price is $133.64 and its 200-day moving average price is $142.40. The stock has a market cap of $46.51 billion, a PE ratio of 22.26, a PEG ratio of 2.13 and a beta of 1.17. 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) last posted its quarterly earnings data on Tuesday, March 4th. The apparel retailer reported $1.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.65 by $0.14. The firm had revenue of $5.91 billion for the quarter, compared to the consensus estimate of $5.95 billion. Ross Stores had a return on equity of 41.83% and a net margin of 9.95%. Analysts expect that Ross Stores will post 6.17 earnings per share for the current year.

Insider Buying and Selling

In related news, COO Michael J. Hartshorn sold 7,492 shares of the company’s stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $127.69, for a total transaction of $956,653.48. Following the completion of the transaction, the chief operating officer now directly owns 139,091 shares in the company, valued at $17,760,529.79. This represents a 5.11 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CMO Karen Fleming sold 5,270 shares of the firm’s stock in a transaction that occurred on Monday, March 31st. The shares were sold at an average price of $127.70, for a total transaction of $672,979.00. Following the completion of the sale, the chief marketing officer now owns 93,126 shares in the company, valued at $11,892,190.20. This represents a 5.36 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 34,398 shares of company stock worth $4,439,950. Corporate insiders own 2.20% of the company’s stock.

Institutional Investors Weigh In On Ross Stores

Institutional investors have recently added to or reduced their stakes in the business. Larson Financial Group LLC increased its holdings in Ross Stores by 152.9% in the fourth quarter. Larson Financial Group LLC now owns 177 shares of the apparel retailer’s stock valued at $27,000 after purchasing an additional 107 shares during the period. BOK Financial Private Wealth Inc. bought a new stake in shares of Ross Stores in the 4th quarter valued at about $31,000. Golden State Wealth Management LLC increased its stake in shares of Ross Stores by 50.7% in the first quarter. Golden State Wealth Management LLC now owns 217 shares of the apparel retailer’s stock valued at $28,000 after buying an additional 73 shares during the period. ORG Partners LLC lifted its stake in shares of Ross Stores by 434.1% in the fourth quarter. ORG Partners LLC now owns 235 shares of the apparel retailer’s stock worth $36,000 after acquiring an additional 191 shares during the period. Finally, Tradewinds Capital Management LLC boosted its holdings in Ross Stores by 36.6% in the first quarter. Tradewinds Capital Management LLC now owns 280 shares of the apparel retailer’s stock valued at $36,000 after acquiring an additional 75 shares during the last quarter. 86.86% of the stock is owned by 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.