Ross Stores (NASDAQ:ROST) PT Raised to $147.00 at UBS Group

Ross Stores (NASDAQ:ROST) had its price objective lifted by research analysts at UBS Group from $145.00 to $147.00 in a report released on Friday, Benzinga reports. The brokerage presently has a “neutral” rating on the apparel retailer’s stock. UBS Group’s price objective points to a potential upside of 3.09% from the company’s current price.

Several other research analysts have also weighed in on ROST. Telsey Advisory Group reaffirmed a “market perform” rating and set a $160.00 target price on shares of Ross Stores in a research note on Friday. Loop Capital lifted their target price on shares of Ross Stores from $150.00 to $170.00 and gave the company a “buy” rating in a report on Wednesday, March 6th. Morgan Stanley upped their price target on Ross Stores from $159.00 to $161.00 and gave the stock an “overweight” rating in a research note on Friday. Jefferies Financial Group lifted their price objective on Ross Stores from $135.00 to $147.00 and gave the company a “hold” rating in a research note on Wednesday, March 6th. Finally, BMO Capital Markets increased their target price on Ross Stores from $138.00 to $165.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 6th. Four analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat.com, Ross Stores presently has an average rating of “Moderate Buy” and an average price target of $155.68.

Ross Stores Trading Up 8.1 %

Shares of NASDAQ ROST traded up $10.73 during midday trading on Friday, reaching $142.59. 978,750 shares of the stock were exchanged, compared to its average volume of 2,127,534. The stock has a market capitalization of $48.01 billion, a P/E ratio of 25.65, a PEG ratio of 1.98 and a beta of 1.06. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.24 and a current ratio of 1.77. The company has a 50 day simple moving average of $136.91 and a 200 day simple moving average of $137.42. Ross Stores has a twelve month low of $100.66 and a twelve month high of $151.12.

Ross Stores (NASDAQ:ROST) last posted its earnings results on Thursday, May 23rd. The apparel retailer reported $1.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.35 by $0.11. Ross Stores had a return on equity of 41.15% and a net margin of 9.20%. The company had revenue of $4.86 billion during the quarter, compared to analysts’ expectations of $4.83 billion. During the same quarter last year, the firm earned $1.09 earnings per share. The firm’s quarterly revenue was up 8.1% compared to the same quarter last year. As a group, equities analysts expect that Ross Stores will post 5.89 earnings per share for the current year.

Ross Stores announced that its board has approved a stock repurchase program on Tuesday, March 5th that allows the company to repurchase $2.10 billion in outstanding shares. This repurchase authorization allows the apparel retailer to repurchase up to 4.3% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling at Ross Stores

In related news, CMO Brian R. Morrow sold 10,734 shares of the stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $146.00, for a total transaction of $1,567,164.00. Following the transaction, the chief marketing officer now directly owns 62,711 shares in the company, valued at $9,155,806. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Larree M. Renda sold 4,168 shares of the firm’s stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $147.89, for a total value of $616,405.52. Following the transaction, the director now owns 3,166 shares in the company, valued at $468,219.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CMO Brian R. Morrow sold 10,734 shares of the firm’s stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $146.00, for a total transaction of $1,567,164.00. Following the completion of the transaction, the chief marketing officer now owns 62,711 shares in the company, valued at approximately $9,155,806. The disclosure for this sale can be found here. Insiders have sold 71,097 shares of company stock valued at $10,396,178 over the last quarter. Corporate insiders own 2.10% of the company’s stock.

Institutional Investors Weigh In On Ross Stores

Several institutional investors and hedge funds have recently modified their holdings of the stock. PGGM Investments acquired a new position in shares of Ross Stores during the first quarter worth $442,000. Swedbank AB acquired a new position in Ross Stores in the 1st quarter worth $16,130,000. Wahed Invest LLC lifted its stake in shares of Ross Stores by 12.8% in the first quarter. Wahed Invest LLC now owns 6,466 shares of the apparel retailer’s stock worth $949,000 after acquiring an additional 736 shares in the last quarter. Plato Investment Management Ltd lifted its stake in shares of Ross Stores by 37,844.4% in the first quarter. Plato Investment Management Ltd now owns 6,830 shares of the apparel retailer’s stock worth $1,002,000 after acquiring an additional 6,812 shares in the last quarter. Finally, SkyView Investment Advisors LLC lifted its stake in shares of Ross Stores by 12.6% in the first quarter. SkyView Investment Advisors LLC now owns 14,565 shares of the apparel retailer’s stock worth $2,138,000 after acquiring an additional 1,630 shares in the last quarter. Hedge funds and other institutional investors 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.