Ross Stores (NASDAQ:ROST) Price Target Cut to $170.00 by Analysts at Evercore ISI

Ross Stores (NASDAQ:ROST - Get Free Report) had its target price dropped by equities researchers at Evercore ISI from $175.00 to $170.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has an "outperform" rating on the apparel retailer's stock. Evercore ISI's target price would suggest a potential upside of 25.04% from the company's previous close.

Several other brokerages have also commented on ROST. Morgan Stanley decreased their price objective on shares of Ross Stores from $140.00 to $130.00 and set an "equal weight" rating for the company in a research report on Wednesday. Guggenheim reaffirmed a "buy" rating and issued a $180.00 price target on shares of Ross Stores in a report on Friday, November 22nd. Robert W. Baird dropped their price objective on shares of Ross Stores from $175.00 to $160.00 and set an "outperform" rating on the stock in a report on Wednesday. Telsey Advisory Group cut their target price on Ross Stores from $175.00 to $150.00 and set a "market perform" rating on the stock in a research report on Wednesday. Finally, Citigroup cut Ross Stores from a "buy" rating to a "neutral" rating and lowered their price target for the stock from $179.00 to $152.00 in a research report on Tuesday, November 12th. Seven research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $163.07.

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Ross Stores Stock Down 1.4 %

NASDAQ ROST traded down $1.93 on Wednesday, hitting $135.96. The stock had a trading volume of 4,252,671 shares, compared to its average volume of 2,583,287. The business's fifty day moving average price is $145.37 and its 200 day moving average price is $147.49. The stock has a market cap of $44.86 billion, a price-to-earnings ratio of 21.41, a price-to-earnings-growth ratio of 2.13 and a beta of 1.15. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.57 and a quick ratio of 0.98. Ross Stores has a 52-week low of $127.53 and a 52-week high of $163.60.

Ross Stores (NASDAQ:ROST - Get Free Report) last posted its quarterly earnings data on Tuesday, March 4th. The apparel retailer reported $1.79 earnings per share for the quarter, topping analysts' consensus estimates of $1.65 by $0.14. Ross Stores had a return on equity of 41.83% and a net margin of 9.95%. The firm had revenue of $5.91 billion during the quarter, compared to analysts' expectations of $5.95 billion. Equities research analysts anticipate that Ross Stores will post 6.17 earnings per share for the current year.

Institutional Investors Weigh In On Ross Stores

A number of institutional investors have recently modified their holdings of the business. Norges Bank purchased a new position in Ross Stores during the fourth quarter worth approximately $649,318,000. Price T Rowe Associates Inc. MD lifted its position in shares of Ross Stores by 25.7% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 19,515,891 shares of the apparel retailer's stock valued at $2,952,170,000 after buying an additional 3,995,760 shares in the last quarter. Wealthfront Advisers LLC grew its stake in Ross Stores by 8,209.0% in the 4th quarter. Wealthfront Advisers LLC now owns 2,381,201 shares of the apparel retailer's stock valued at $360,204,000 after acquiring an additional 2,352,543 shares during the period. Madison Investment Advisors LLC acquired a new stake in Ross Stores in the 4th quarter valued at $230,204,000. Finally, Wellington Management Group LLP increased its holdings in Ross Stores by 64.0% in the 3rd quarter. Wellington Management Group LLP now owns 3,862,684 shares of the apparel retailer's stock worth $581,373,000 after acquiring an additional 1,507,922 shares in the last quarter. 86.86% of the stock is currently owned by institutional investors and hedge funds.

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.