Ross Stores (NASDAQ:ROST) Downgraded by StockNews.com to Hold

Ross Stores (NASDAQ:ROST) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a note issued to investors on Tuesday.

Several other equities analysts have also weighed in on ROST. 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 report on Thursday, November 14th. Citigroup downgraded Ross Stores from a “buy” rating to a “neutral” rating and dropped their target price for the company from $179.00 to $152.00 in a report on Tuesday, November 12th. Barclays upped their target price on Ross Stores from $165.00 to $175.00 and gave the stock an “overweight” rating in a research report on Friday, August 23rd. Robert W. Baird lifted their price objective on shares of Ross Stores from $162.00 to $180.00 and gave the company an “outperform” rating in a research note on Friday, August 23rd. Finally, Telsey Advisory Group reissued a “market perform” rating and set a $175.00 target price on shares of Ross Stores in a research report on Monday. Five equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $169.50.

Ross Stores Stock Down 1.4 %

NASDAQ ROST traded down $2.04 during trading hours on Tuesday, reaching $139.26. 2,583,852 shares of the company traded hands, compared to its average volume of 2,273,287. The stock has a market capitalization of $46.20 billion, a PE ratio of 22.46, a PEG ratio of 2.36 and a beta of 1.09. Ross Stores has a 12 month low of $127.53 and a 12 month high of $163.60. The company has a 50 day moving average of $145.76 and a two-hundred day moving average of $144.48. The company has a current ratio of 1.56, a quick ratio of 1.05 and a debt-to-equity ratio of 0.30.

Ross Stores (NASDAQ:ROST) last announced its quarterly 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. Ross Stores had a return on equity of 42.43% and a net margin of 9.82%. The business had revenue of $5.29 billion for the quarter, compared to analysts’ expectations of $5.25 billion. During the same period in the prior year, the firm earned $1.32 EPS. The business’s quarterly revenue was up 7.1% on a year-over-year basis. As a group, equities analysts expect that Ross Stores will post 6.11 earnings per share for the current year.

Insider Transactions at Ross Stores

In other news, COO Michael J. Hartshorn sold 8,366 shares of the company’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $155.64, for a total transaction of $1,302,084.24. Following the completion of the sale, the chief operating officer now directly owns 103,049 shares in the company, valued at approximately $16,038,546.36. This represents a 7.51 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Chairman Michael Balmuth sold 14,887 shares of the firm’s stock in a transaction on 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 $1,694,665.26. The trade was 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 worth $11,093,051 over the last quarter. Company insiders own 2.10% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. University of Texas Texas AM Investment Management Co. purchased a new stake in shares of Ross Stores in the second quarter worth approximately $27,000. SJS Investment Consulting Inc. lifted its position in shares of Ross Stores by 262.1% during the second quarter. SJS Investment Consulting Inc. now owns 210 shares of the apparel retailer’s stock worth $31,000 after acquiring an additional 152 shares in the last quarter. Industrial Alliance Investment Management Inc. purchased a new stake in Ross Stores during the 2nd quarter worth about $32,000. Armstrong Advisory Group Inc. purchased a new position in Ross Stores during the third quarter valued at approximately $33,000. Finally, Crewe Advisors LLC grew its position in shares of Ross Stores by 97.8% during the 2nd quarter. Crewe Advisors LLC now owns 275 shares of the apparel retailer’s stock valued at $40,000 after purchasing an additional 136 shares in the last quarter. Institutional investors and hedge funds own 86.86% of the company’s stock.

About Ross Stores

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.