Ross Stores (NASDAQ:ROST) Reaches New 52-Week High – Here’s Why

Ross Stores, Inc. (NASDAQ:ROST) reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $198.98 and last traded at $198.21, with a volume of 2528696 shares trading hands. The stock had previously closed at $196.54.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Telsey Advisory Group upped their target price on Ross Stores from $160.00 to $175.00 and gave the company a “market perform” rating in a research report on Friday, November 21st. Guggenheim raised shares of Ross Stores to a “strong-buy” rating in a report on Wednesday, December 10th. The Goldman Sachs Group increased their price target on shares of Ross Stores from $190.00 to $214.00 and gave the stock a “buy” rating in a research note on Tuesday, February 10th. Robert W. Baird set a $200.00 price objective on shares of Ross Stores in a research report on Wednesday, December 17th. Finally, Citigroup upped their target price on shares of Ross Stores from $188.00 to $224.00 and gave the company a “buy” rating in a report on Tuesday, February 10th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and five have given a Hold rating to the company. According to MarketBeat, Ross Stores currently has an average rating of “Moderate Buy” and a consensus target price of $190.94.

Ross Stores Stock Down 0.5%

The company has a quick ratio of 0.90, a current ratio of 1.52 and a debt-to-equity ratio of 0.17. The stock has a market capitalization of $64.51 billion, a PE ratio of 31.16, a PEG ratio of 3.48 and a beta of 0.99. The firm’s fifty day moving average is $188.21 and its 200-day moving average is $167.49.

Ross Stores (NASDAQ:ROST) last released its earnings results on Thursday, November 20th. The apparel retailer reported $1.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.38 by $0.20. Ross Stores had a return on equity of 36.75% and a net margin of 9.47%.The company had revenue of $5.60 billion for the quarter, compared to analysts’ expectations of $5.38 billion. During the same quarter in the previous year, the firm posted $1.48 EPS. The firm’s quarterly revenue was up 10.4% on a year-over-year basis. On average, equities research analysts predict that Ross Stores, Inc. will post 6.17 earnings per share for the current year.

Institutional Trading of Ross Stores

Institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its position in shares of Ross Stores by 14.8% during the 2nd quarter. Vanguard Group Inc. now owns 39,182,660 shares of the apparel retailer’s stock valued at $4,998,924,000 after acquiring an additional 5,060,954 shares during the period. State Street Corp boosted its position in Ross Stores by 0.4% during the second quarter. State Street Corp now owns 13,974,551 shares of the apparel retailer’s stock worth $1,782,873,000 after purchasing an additional 61,168 shares in the last quarter. Primecap Management Co. CA grew its holdings in Ross Stores by 0.5% in the second quarter. Primecap Management Co. CA now owns 10,268,700 shares of the apparel retailer’s stock valued at $1,310,081,000 after purchasing an additional 51,765 shares during the last quarter. Bank of America Corp DE boosted its position in shares of Ross Stores by 1.9% in the 3rd quarter. Bank of America Corp DE now owns 9,762,583 shares of the apparel retailer’s stock worth $1,487,720,000 after buying an additional 180,182 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in Ross Stores by 1.6% in the 2nd quarter. Geode Capital Management LLC now owns 8,673,823 shares of the apparel retailer’s stock valued at $1,102,077,000 after acquiring an additional 133,005 shares during the last quarter. Hedge funds and other institutional investors own 86.86% of the company’s stock.

Ross Stores Company Profile

Ross Stores, Inc (NASDAQ: ROST) is an American off‑price retailer headquartered in Dublin, California, that operates the Ross Dress for Less and dd’s DISCOUNTS store formats. The company sells a broad assortment of apparel, footwear, home fashions, accessories and other soft goods, positioning itself as a value-oriented destination for brand‑name and fashion merchandise at reduced prices.

Ross’s business model centers on opportunistic buying of excess inventory, closeouts, cancelled orders and overstocks from manufacturers, department stores and other suppliers.