Ross Stores (NASDAQ:ROST) Given New $177.00 Price Target at TD Cowen

Ross Stores (NASDAQ:ROST) had its price objective decreased by TD Cowen from $185.00 to $177.00 in a research note issued to investors on Tuesday morning,Benzinga reports. TD Cowen currently has a buy rating on the apparel retailer’s stock.

ROST has been the subject of a number of other reports. Bank of America raised their price target on Ross Stores from $170.00 to $180.00 and gave the stock a “buy” rating in a report on Friday, August 23rd. Morgan Stanley lifted their target price on Ross Stores from $163.00 to $178.00 and gave the company an “overweight” rating in a report on Friday, August 23rd. StockNews.com downgraded shares of Ross Stores from a “buy” rating to a “hold” rating in a report on Friday, November 8th. Wells Fargo & Company reduced their price objective on shares of Ross Stores from $175.00 to $165.00 and set an “overweight” rating for the company in a research note on Thursday, November 14th. Finally, Barclays increased their target price on shares of Ross Stores from $165.00 to $175.00 and gave the stock an “overweight” rating in a research note on Friday, August 23rd. Five analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $169.50.

Ross Stores Stock Down 1.4 %

ROST stock opened at $139.26 on Tuesday. The stock has a fifty day moving average of $145.76 and a 200-day moving average of $144.48. Ross Stores has a fifty-two week low of $127.53 and a fifty-two week high of $163.60. The company has a market capitalization of $46.20 billion, a price-to-earnings ratio of 22.46, a PEG ratio of 2.36 and a beta of 1.09. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.05 and a current ratio of 1.56.

Ross Stores (NASDAQ:ROST) last issued its earnings results on Thursday, August 22nd. The apparel retailer reported $1.59 earnings per share for the quarter, topping analysts’ consensus estimates of $1.50 by $0.09. The firm had revenue of $5.29 billion during the quarter, compared to analyst estimates of $5.25 billion. Ross Stores had a net margin of 9.82% and a return on equity of 42.43%. The company’s quarterly revenue was up 7.1% on a year-over-year basis. During the same quarter last year, the business earned $1.32 earnings per share. As a group, equities research analysts predict that Ross Stores will post 6.11 earnings per share for the current year.

Insiders Place Their Bets

In other Ross Stores news, CEO Barbara Rentler sold 48,885 shares of the company’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $153.93, for a total transaction of $7,524,868.05. Following the completion of the sale, the chief executive officer now directly owns 311,853 shares in the company, valued at $48,003,532.29. This represents a 13.55 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Chairman Michael Balmuth sold 14,887 shares of Ross Stores stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $152.22, for a total value of $2,266,099.14. Following the completion of the transaction, the chairman now owns 11,133 shares in the company, valued at approximately $1,694,665.26. This represents a 57.21 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 72,138 shares of company stock valued at $11,093,051 over the last quarter. 2.10% of the stock is owned by corporate insiders.

Institutional Trading of Ross Stores

A number of institutional investors have recently made changes to their positions in ROST. University of Texas Texas AM Investment Management Co. purchased a new position in shares of Ross Stores in the second quarter worth $27,000. SJS Investment Consulting Inc. grew its position in shares of Ross Stores by 262.1% in the 2nd quarter. SJS Investment Consulting Inc. now owns 210 shares of the apparel retailer’s stock worth $31,000 after buying an additional 152 shares during the last quarter. Industrial Alliance Investment Management Inc. bought a new stake in shares of Ross Stores during the 2nd quarter valued at about $32,000. Armstrong Advisory Group Inc. purchased a new position in Ross Stores during the third quarter valued at $33,000. Finally, Crewe Advisors LLC lifted its holdings in shares of Ross Stores by 97.8% during the second quarter. Crewe Advisors LLC now owns 275 shares of the apparel retailer’s stock valued at $40,000 after purchasing an additional 136 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, 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.