Ross Stores (NASDAQ:ROST) Stock Gets Downgrade from Wall Street Zen

Ross Stores (NASDAQ:ROST) was downgraded by analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a note issued to investors on Saturday, Wall Street Zen reports.

Other equities analysts also recently issued reports about the stock. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $294.00 price objective on shares of Ross Stores in a report on Friday, August 21st. Jefferies Financial Group increased their price target on shares of Ross Stores from $265.00 to $285.00 and gave the stock a “buy” rating in a research report on Friday, August 21st. UBS Group raised their price target on shares of Ross Stores from $232.00 to $239.00 and gave the stock a “neutral” rating in a research note on Friday, August 21st. Sanford C. Bernstein lifted their price objective on Ross Stores from $230.00 to $240.00 and gave the company a “market perform” rating in a report on Friday, August 21st. Finally, Wells Fargo & Company lifted their price objective on Ross Stores from $245.00 to $248.00 and gave the company an “equal weight” rating in a report on Friday, August 21st. Two analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $264.61.

Ross Stores Stock Performance

Shares of NASDAQ ROST opened at $229.30 on Friday. The firm has a market capitalization of $73.25 billion, a price-to-earnings ratio of 27.76, a PEG ratio of 1.93 and a beta of 0.83. Ross Stores has a one year low of $156.41 and a one year high of $257.00. The business has a fifty day simple moving average of $231.44 and a 200 day simple moving average of $230.11. The company has a current ratio of 1.61, a quick ratio of 0.98 and a debt-to-equity ratio of 0.12.

Ross Stores (NASDAQ:ROST) last posted its quarterly earnings results on Thursday, August 20th. The apparel retailer reported $2.66 earnings per share for the quarter, topping analysts’ consensus estimates of $1.95 by $0.71. The firm had revenue of $6.26 billion for the quarter, compared to the consensus estimate of $6.16 billion. Ross Stores had a net margin of 10.85% and a return on equity of 39.29%. The business’s revenue was up 13.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.56 earnings per share. Sell-side analysts expect that Ross Stores will post 8.15 EPS for the current year.

Insider Buying and Selling at Ross Stores

In related news, CEO James Conroy sold 49,205 shares of the stock in a transaction dated Monday, September 14th. The shares were sold at an average price of $229.48, for a total transaction of $11,291,563.40. Following the completion of the sale, the chief executive officer owned 134,349 shares in the company, valued at $30,830,408.52. This trade represents a 26.81% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Stephen C. Brinkley sold 6,424 shares of Ross Stores stock in a transaction dated Monday, September 14th. The shares were sold at an average price of $229.66, for a total transaction of $1,475,335.84. Following the transaction, the insider directly owned 51,665 shares of the company’s stock, valued at $11,865,383.90. This represents a 11.06% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 2.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Ross Stores

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ROST. Virtus Advisers LLC acquired a new stake in shares of Ross Stores during the second quarter worth approximately $38,000. Twin Lakes Capital Management LLC bought a new stake in shares of Ross Stores during the second quarter worth $41,000. Bell Investment Advisors Inc acquired a new stake in shares of Ross Stores in the second quarter valued at $43,000. BOK Financial Private Wealth Inc. acquired a new stake in shares of Ross Stores in the second quarter valued at $44,000. Finally, Elevation Wealth Partners LLC raised its holdings in shares of Ross Stores by 402.4% in the second quarter. Elevation Wealth Partners LLC now owns 211 shares of the apparel retailer’s stock valued at $45,000 after buying an additional 169 shares during the last quarter. 86.86% of the stock is currently owned by institutional investors and hedge funds.

Ross Stores Company Profile

Ross Stores, Inc is an off-price apparel and home fashion retailer headquartered in Dublin, California. The company operates primarily through its Ross Dress for Less stores, which offer branded and designer apparel, accessories, footwear, and home merchandise at discounts to regular department and specialty store prices.

Ross Stores also operates dd’s DISCOUNTS, a chain focused on value-oriented apparel, accessories, footwear, and home products. Both retail formats generally purchase merchandise opportunistically from manufacturers, department stores, and other suppliers, allowing the company to offer changing assortments and discounted prices.

Founded in 1950, Ross Stores serves customers across the United States through its store network and e-commerce presence.