Ross Stores (NASDAQ:ROST) Price Target Cut to $130.00 by Analysts at Morgan Stanley

Ross Stores (NASDAQ:ROST) had its target price decreased by analysts at Morgan Stanley from $140.00 to $130.00 in a report issued on Wednesday,Benzinga reports. The brokerage presently has an “equal weight” rating on the apparel retailer’s stock. Morgan Stanley’s price objective suggests a potential downside of 4.39% from the company’s previous close.

ROST has been the topic of a number of other research reports. Guggenheim restated a “buy” rating and set a $180.00 price target on shares of Ross Stores in a research note on Friday, November 22nd. Citigroup cut Ross Stores from a “buy” rating to a “neutral” rating and cut their price target for the stock from $179.00 to $152.00 in a report on Tuesday, November 12th. JPMorgan Chase & Co. upped their target price on Ross Stores from $171.00 to $173.00 and gave the company an “overweight” rating in a research note on Friday, November 22nd. Telsey Advisory Group lowered their price target on Ross Stores from $175.00 to $150.00 and set a “market perform” rating for the company in a research report on Wednesday. Finally, Sanford C. Bernstein reiterated a “market perform” rating and issued a $165.00 price target (down previously from $178.00) on shares of Ross Stores in a research note on Tuesday, January 7th. Eight investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $165.82.

Ross Stores Trading Down 0.6 %

ROST opened at $135.97 on Wednesday. Ross Stores has a one year low of $127.53 and a one year high of $163.60. The firm has a market capitalization of $44.86 billion, a price-to-earnings ratio of 21.41, a PEG ratio of 2.13 and a beta of 1.10. The business has a 50 day simple moving average of $146.27 and a two-hundred day simple moving average of $147.70. 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 (NASDAQ:ROST) last announced its earnings results on Tuesday, March 4th. The apparel retailer reported $1.79 earnings per share (EPS) for the quarter, beating 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%. Analysts predict that Ross Stores will post 6.17 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Stephens Inc. AR lifted its stake in shares of Ross Stores by 5.2% during the 3rd quarter. Stephens Inc. AR now owns 2,328 shares of the apparel retailer’s stock valued at $350,000 after buying an additional 115 shares in the last quarter. Farther Finance Advisors LLC increased its holdings in shares of Ross Stores by 53.7% in the 3rd quarter. Farther Finance Advisors LLC now owns 2,560 shares of the apparel retailer’s stock worth $385,000 after buying an additional 894 shares during the last quarter. Chicago Partners Investment Group LLC grew its holdings in shares of Ross Stores by 22.2% during the 3rd quarter. Chicago Partners Investment Group LLC now owns 1,995 shares of the apparel retailer’s stock valued at $290,000 after purchasing an additional 363 shares during the last quarter. Janney Montgomery Scott LLC grew its holdings in shares of Ross Stores by 2.3% during the 3rd quarter. Janney Montgomery Scott LLC now owns 40,488 shares of the apparel retailer’s stock valued at $6,094,000 after purchasing an additional 908 shares during the last quarter. Finally, Van ECK Associates Corp boosted its position in Ross Stores by 2.9% during the 3rd quarter. Van ECK Associates Corp now owns 46,853 shares of the apparel retailer’s stock valued at $6,805,000 after buying an additional 1,301 shares during the period. 86.86% of the stock is currently owned by hedge funds and other institutional investors.

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.