Evercore ISI Issues Pessimistic Forecast for Ross Stores (NASDAQ:ROST) Stock Price

Ross Stores (NASDAQ:ROST) had its price objective decreased by stock analysts at Evercore ISI from $175.00 to $170.00 in a research note issued on Wednesday,Benzinga reports. The brokerage presently has an “outperform” rating on the apparel retailer’s stock. Evercore ISI’s price objective would suggest a potential upside of 23.58% from the company’s current price.

Several other brokerages have also weighed in on ROST. JPMorgan Chase & Co. boosted their price objective on Ross Stores from $171.00 to $173.00 and gave the company an “overweight” rating in a report on Friday, November 22nd. Wells Fargo & Company reissued an “equal weight” rating and set a $165.00 price target on shares of Ross Stores in a research report on Friday, January 10th. Citigroup downgraded shares of Ross Stores from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $179.00 to $152.00 in a report on Tuesday, November 12th. Telsey Advisory Group dropped their target price on shares of Ross Stores from $175.00 to $150.00 and set a “market perform” rating on the stock in a report on Wednesday. Finally, Morgan Stanley lowered 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. Eight equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $163.24.

Ross Stores Stock Up 1.2 %

NASDAQ ROST traded up $1.60 during trading hours on Wednesday, hitting $137.57. The company had a trading volume of 1,182,415 shares, compared to its average volume of 2,404,237. 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 fifty-two week low of $127.53 and a fifty-two week high of $163.60. The company has a market capitalization of $45.39 billion, a price-to-earnings ratio of 21.69, a P/E/G ratio of 2.13 and a beta of 1.10. The firm’s 50 day moving average is $146.27 and its 200 day moving average is $147.70.

Ross Stores (NASDAQ:ROST) last issued its quarterly earnings results on Tuesday, March 4th. The apparel retailer reported $1.79 EPS for the quarter, beating 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 the consensus estimate of $5.95 billion. Sell-side analysts anticipate that Ross Stores will post 6.17 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Ross Stores

Institutional investors have recently bought and sold shares of the business. Larson Financial Group LLC grew its stake in Ross Stores by 152.9% in the fourth quarter. Larson Financial Group LLC now owns 177 shares of the apparel retailer’s stock valued at $27,000 after purchasing an additional 107 shares in the last quarter. BOK Financial Private Wealth Inc. bought a new stake in Ross Stores in the fourth quarter worth approximately $31,000. ORG Partners LLC increased its stake in shares of Ross Stores by 434.1% during the 4th quarter. ORG Partners LLC now owns 235 shares of the apparel retailer’s stock worth $36,000 after purchasing an additional 191 shares during the last quarter. Putney Financial Group LLC bought a new position in Ross Stores during the fourth quarter valued at about $44,000. Finally, Cary Street Partners Financial LLC acquired a new stake in Ross Stores in the 4th quarter worth approximately $48,000. 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.