Ross Stores (NASDAQ:ROST) Hits New 1-Year High Following Analyst Upgrade

Shares of Ross Stores, Inc. (NASDAQ:ROST) reached a new 52-week high on Wednesday after Telsey Advisory Group raised their price target on the stock from $175.00 to $220.00. Telsey Advisory Group currently has a market perform rating on the stock. Ross Stores traded as high as $204.85 and last traded at $203.16, with a volume of 294444 shares trading hands. The stock had previously closed at $200.55.

ROST has been the topic of several other research reports. Erste Group Bank started coverage on Ross Stores in a research note on Friday, October 31st. They issued a “buy” rating on the stock. Wells Fargo & Company increased their price target on shares of Ross Stores from $180.00 to $200.00 and gave the company an “overweight” rating in a research report on Tuesday, December 16th. Wall Street Zen raised shares of Ross Stores from a “hold” rating to a “buy” rating in a research note on Saturday, November 15th. TD Cowen reaffirmed a “buy” rating on shares of Ross Stores in a research note on Thursday, December 4th. Finally, Jefferies Financial Group reiterated a “buy” rating and issued a $205.00 target price on shares of Ross Stores in a report on Monday, December 1st. Two 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 company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $195.78.

Institutional Investors Weigh In On Ross Stores

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Aspect Partners LLC increased its holdings in Ross Stores by 251.7% during the 2nd quarter. Aspect Partners LLC now owns 204 shares of the apparel retailer’s stock worth $26,000 after purchasing an additional 146 shares in the last quarter. American National Bank & Trust acquired a new position in shares of Ross Stores during the third quarter worth about $26,000. Thurston Springer Miller Herd & Titak Inc. grew its holdings in shares of Ross Stores by 7,000.0% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 142 shares of the apparel retailer’s stock worth $26,000 after buying an additional 140 shares in the last quarter. Hilton Head Capital Partners LLC acquired a new stake in Ross Stores in the 4th quarter valued at approximately $26,000. Finally, Grey Fox Wealth Advisors LLC bought a new stake in Ross Stores in the 3rd quarter valued at approximately $29,000. 86.86% of the stock is currently owned by institutional investors and hedge funds.

Ross Stores Price Performance

The company has a current ratio of 1.52, a quick ratio of 0.90 and a debt-to-equity ratio of 0.17. The company has a 50 day simple moving average of $189.31 and a 200 day simple moving average of $169.03. The stock has a market cap of $65.75 billion, a P/E ratio of 31.76, a PEG ratio of 3.50 and a beta of 0.99.

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.