UBS Group Raises Ross Stores (NASDAQ:ROST) Price Target to $147.00

Ross Stores (NASDAQ:ROST) had its price target upped by research analysts at UBS Group from $145.00 to $147.00 in a report released on Friday, Benzinga reports. The brokerage currently 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 stock’s current price.

Other equities research analysts have also issued research reports about the company. Citigroup increased their price target on Ross Stores from $147.00 to $172.00 and gave the stock a “buy” rating in a research note on Wednesday, March 6th. The Goldman Sachs Group upped their target price on shares of Ross Stores from $143.00 to $163.00 and gave the stock a “buy” rating in a research report on Wednesday, March 6th. Barclays boosted their price target on shares of Ross Stores from $160.00 to $163.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 6th. Jefferies Financial Group lifted their target price on Ross Stores from $135.00 to $147.00 and gave the stock a “hold” rating in a report on Wednesday, March 6th. Finally, BMO Capital Markets increased their price target on Ross Stores from $138.00 to $165.00 and gave the company 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. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $155.68.

Ross Stores Stock Performance

Shares of ROST stock traded up $10.73 during trading hours on Friday, reaching $142.59. The company had a trading volume of 978,750 shares, compared to its average volume of 2,127,534. 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 business has a fifty day moving average price of $136.91 and a 200-day moving average price of $137.42. Ross Stores has a one year low of $100.66 and a one year high of $151.12. The firm has a market cap of $48.01 billion, a PE ratio of 25.65, a price-to-earnings-growth ratio of 1.98 and a beta of 1.06.

Ross Stores (NASDAQ:ROST) last announced 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 business had revenue of $4.86 billion for the quarter, compared to analysts’ expectations of $4.83 billion. During the same period last year, the firm posted $1.09 earnings per share. The business’s revenue for the quarter was up 8.1% on a year-over-year basis. Sell-side analysts predict that Ross Stores will post 5.89 earnings per share for the current fiscal year.

Ross Stores announced that its board has initiated a stock repurchase program on Tuesday, March 5th that allows the company to buyback $2.10 billion in shares. This buyback authorization allows the apparel retailer to buy up to 4.3% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling at Ross Stores

In other news, Director Larree M. Renda sold 4,168 shares of the stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $147.89, for a total transaction of $616,405.52. Following the completion of the transaction, the director now directly owns 3,166 shares in the company, valued at approximately $468,219.74. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, insider Michael K. Kobayashi sold 13,860 shares of the firm’s stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $147.46, for a total value of $2,043,795.60. Following the completion of the transaction, the insider now owns 61,657 shares of the company’s stock, valued at $9,091,941.22. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, 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 transaction of $616,405.52. Following the completion of the transaction, the director now directly owns 3,166 shares of the company’s stock, valued at approximately $468,219.74. The disclosure for this sale can be found here. Insiders have sold 71,097 shares of company stock worth $10,396,178 over the last quarter. 2.10% of the stock is currently owned by company insiders.

Institutional Trading of Ross Stores

A number of large investors have recently made changes to their positions in ROST. Norges Bank acquired a new position in Ross Stores during the 4th quarter worth approximately $523,185,000. First Trust Advisors LP increased its holdings in shares of Ross Stores by 515.8% in the 4th quarter. First Trust Advisors LP now owns 1,756,881 shares of the apparel retailer’s stock valued at $243,135,000 after acquiring an additional 1,471,585 shares during the last quarter. Los Angeles Capital Management LLC raised its position in shares of Ross Stores by 1,437.1% during the 4th quarter. Los Angeles Capital Management LLC now owns 1,026,367 shares of the apparel retailer’s stock worth $142,039,000 after acquiring an additional 959,594 shares in the last quarter. Westfield Capital Management Co. LP acquired a new position in Ross Stores in the fourth quarter valued at approximately $102,083,000. Finally, Wellington Management Group LLP increased its stake in Ross Stores by 19.5% in the third quarter. Wellington Management Group LLP now owns 4,121,854 shares of the apparel retailer’s stock valued at $465,563,000 after purchasing an additional 673,670 shares during the last quarter. 86.86% of the stock is currently owned by hedge funds and other institutional investors.

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.