Ross Stores (NASDAQ:ROST) Rating Lowered to “Hold” at Zacks Research

Ross Stores (NASDAQ:ROST) was downgraded by Zacks Research from a “strong-buy” rating to a “hold” rating in a report issued on Wednesday, Zacks reports.

Several other equities research analysts also recently weighed in on the stock. Truist Financial boosted their target price on shares of Ross Stores from $290.00 to $310.00 and gave the stock a “buy” rating in a research report on Friday, August 21st. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $294.00 target price on shares of Ross Stores in a research note on Friday, August 21st. Wall Street Zen raised shares of Ross Stores from a “hold” rating to a “buy” rating in a research report on Sunday, November 1st. Evercore set a $290.00 price target on Ross Stores in a research note on Friday, August 21st. Finally, Wells Fargo & Company lifted their price target on Ross Stores from $245.00 to $248.00 and gave the stock an “equal weight” rating in a research note on Friday, August 21st. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, Ross Stores presently has an average rating of “Moderate Buy” and a consensus price target of $272.06.

Ross Stores Stock Down 4.3%

ROST stock opened at $235.23 on Wednesday. Ross Stores has a twelve month low of $157.73 and a twelve month high of $257.00. The company has a current ratio of 1.61, a quick ratio of 0.98 and a debt-to-equity ratio of 0.12. The company has a market capitalization of $75.14 billion, a P/E ratio of 28.48, a PEG ratio of 2.19 and a beta of 0.85. The firm has a 50 day simple moving average of $230.87 and a 200-day simple moving average of $222.92.

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

Insider Buying and Selling at Ross Stores

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

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Tortoise Investment Management LLC bought a new stake in shares of Ross Stores during the 3rd quarter worth about $201,000. Eurizon Capital SGR S.p.A. lifted its stake in shares of Ross Stores by 24.7% in the 3rd quarter. Eurizon Capital SGR S.p.A. now owns 732,995 shares of the apparel retailer’s stock worth $171,299,000 after acquiring an additional 144,963 shares during the period. PBU The Pension Fund of Early Childhood & Youth Educators lifted its stake in shares of Ross Stores by 9.1% in the 3rd quarter. PBU The Pension Fund of Early Childhood & Youth Educators now owns 117,128 shares of the apparel retailer’s stock worth $27,338,000 after acquiring an additional 9,734 shares during the period. Maryland State Retirement & Pension System boosted its holdings in shares of Ross Stores by 12.0% in the third quarter. Maryland State Retirement & Pension System now owns 19,307 shares of the apparel retailer’s stock valued at $4,506,000 after acquiring an additional 2,068 shares in the last quarter. Finally, Advisor Resource Council boosted its holdings in shares of Ross Stores by 3.9% in the third quarter. Advisor Resource Council now owns 1,512 shares of the apparel retailer’s stock valued at $342,000 after acquiring an additional 57 shares in the last quarter. 86.86% of the stock is currently owned by institutional investors.

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.