Ross Stores (NASDAQ:ROST) Price Target Lowered to $175.00 at Loop Capital

Ross Stores (NASDAQ:ROST - Get Free Report) had its price target reduced by research analysts at Loop Capital from $190.00 to $175.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm presently has a "buy" rating on the apparel retailer's stock. Loop Capital's target price would indicate a potential upside of 28.71% from the stock's current price.

Other analysts have also recently issued reports about the company. Robert W. Baird dropped their price target on Ross Stores from $175.00 to $160.00 and set an "outperform" rating for the company in a research report on Wednesday. Evercore ISI dropped their target price on shares of Ross Stores from $175.00 to $170.00 and set an "outperform" rating for the company in a report on Wednesday. Guggenheim reiterated a "buy" rating and issued a $180.00 target price on shares of Ross Stores in a research report on Friday, November 22nd. TD Cowen lowered their price target on shares of Ross Stores from $185.00 to $177.00 and set a "buy" rating on the stock in a research report on Tuesday, November 19th. Finally, Wells Fargo & Company cut their price objective on shares of Ross Stores from $165.00 to $140.00 and set an "equal weight" rating for the company in a report on Wednesday. Seven investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $163.07.

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Ross Stores Price Performance

Shares of NASDAQ ROST traded down $1.93 during trading on Wednesday, hitting $135.96. The company had a trading volume of 4,252,671 shares, compared to its average volume of 2,583,287. The firm has a market capitalization 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 stock has a fifty day simple moving average of $145.37 and a two-hundred day simple moving average of $147.45. The company has a quick ratio of 0.98, a current ratio of 1.57 and a debt-to-equity ratio of 0.29. Ross Stores has a fifty-two week low of $127.53 and a fifty-two 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 (EPS) for the quarter, topping the consensus estimate of $1.65 by $0.14. Ross Stores had a return on equity of 41.83% and a net margin of 9.95%. The company had revenue of $5.91 billion for the quarter, compared to analysts' expectations of $5.95 billion. On average, research analysts expect that Ross Stores will post 6.17 earnings per share for the current year.

Institutional Investors Weigh In On Ross Stores

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Hahn Capital Management LLC increased its position in shares of Ross Stores by 40.9% during the 4th quarter. Hahn Capital Management LLC now owns 74,059 shares of the apparel retailer's stock worth $11,203,000 after purchasing an additional 21,500 shares during the last quarter. Sovran Advisors LLC purchased a new position in Ross Stores during the fourth quarter worth about $269,000. Oak Ridge Investments LLC increased its position in shares of Ross Stores by 10.6% during the fourth quarter. Oak Ridge Investments LLC now owns 115,849 shares of the apparel retailer's stock valued at $17,524,000 after acquiring an additional 11,060 shares during the last quarter. Oppenheimer & Co. Inc. increased its position in shares of Ross Stores by 22.6% during the fourth quarter. Oppenheimer & Co. Inc. now owns 2,847 shares of the apparel retailer's stock valued at $431,000 after acquiring an additional 524 shares during the last quarter. Finally, Nordea Investment Management AB raised its stake in shares of Ross Stores by 137.7% in the 4th quarter. Nordea Investment Management AB now owns 1,976,140 shares of the apparel retailer's stock valued at $299,583,000 after acquiring an additional 1,144,774 shares during the period. Institutional investors and hedge funds 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.