Telsey Advisory Group Raises Ross Stores (NASDAQ:ROST) Price Target to $220.00

Ross Stores (NASDAQ:ROST) had its price objective upped by Telsey Advisory Group from $175.00 to $220.00 in a research report issued to clients and investors on Wednesday. The firm presently has a “market perform” rating on the apparel retailer’s stock. Telsey Advisory Group’s price target would suggest a potential upside of 9.70% from the company’s previous close.

Several other analysts also recently issued reports on ROST. Zacks Research upgraded Ross Stores from a “hold” rating to a “strong-buy” rating in a report on Monday, January 12th. Citigroup upped their target price on Ross Stores from $188.00 to $224.00 and gave the stock a “buy” rating in a research report on Tuesday, February 10th. Evercore raised their target price on Ross Stores from $175.00 to $195.00 and gave the company an “outperform” rating in a report on Friday, November 21st. Guggenheim raised Ross Stores to a “strong-buy” rating in a research report on Wednesday, December 10th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Ross Stores in a research report on Friday, January 9th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $195.78.

Ross Stores Price Performance

ROST opened at $200.55 on Wednesday. Ross Stores has a 52-week low of $122.36 and a 52-week high of $203.31. The company has a 50 day moving average of $189.31 and a two-hundred day moving average of $169.03. The company has a market cap of $64.87 billion, a P/E ratio of 31.34, a P/E/G ratio of 3.50 and a beta of 0.99. The company has a quick ratio of 0.90, a current ratio of 1.52 and a debt-to-equity ratio of 0.17.

Institutional Investors Weigh In On Ross Stores

Hedge funds and other institutional investors have recently bought and sold shares of the business. Somerset Trust Co boosted its stake in shares of Ross Stores by 0.4% during the 4th quarter. Somerset Trust Co now owns 14,788 shares of the apparel retailer’s stock valued at $2,664,000 after buying an additional 55 shares during the last quarter. Independent Advisor Alliance raised its holdings in Ross Stores by 1.7% in the fourth quarter. Independent Advisor Alliance now owns 3,309 shares of the apparel retailer’s stock valued at $596,000 after acquiring an additional 55 shares in the last quarter. CYBER HORNET ETFs LLC boosted its stake in Ross Stores by 6.1% during the 4th quarter. CYBER HORNET ETFs LLC now owns 954 shares of the apparel retailer’s stock valued at $172,000 after acquiring an additional 55 shares during the last quarter. Florida Trust Wealth Management Co grew its holdings in Ross Stores by 1.7% during the 4th quarter. Florida Trust Wealth Management Co now owns 3,399 shares of the apparel retailer’s stock worth $612,000 after acquiring an additional 56 shares in the last quarter. Finally, MCF Advisors LLC grew its holdings in Ross Stores by 4.6% during the 4th quarter. MCF Advisors LLC now owns 1,292 shares of the apparel retailer’s stock worth $233,000 after acquiring an additional 57 shares in the last quarter. 86.86% of the stock is currently owned by hedge funds and other institutional investors.

About Ross Stores

Ross Stores, Inc (NASDAQ: ROST) is an American off?price retailer headquartered in Dublin, California, that operates the Ross Dress for Less and dd’s DISCOUNTS store formats. The company sells a broad assortment of apparel, footwear, home fashions, accessories and other soft goods, positioning itself as a value-oriented destination for brand?name and fashion merchandise at reduced prices.

Ross’s business model centers on opportunistic buying of excess inventory, closeouts, cancelled orders and overstocks from manufacturers, department stores and other suppliers.