BMO Capital Markets Boosts Ross Stores (NASDAQ:ROST) Price Target to $138.00

Ross Stores (NASDAQ:ROST) had its target price increased by BMO Capital Markets from $127.00 to $138.00 in a research report issued to clients and investors on Friday, Benzinga reports. The brokerage currently has an “outperform” rating on the apparel retailer’s stock. BMO Capital Markets’ target price would indicate a potential upside of 5.27% from the company’s previous close.

Several other brokerages have also recently commented on ROST. Gordon Haskett raised shares of Ross Stores from an “accumulate” rating to a “buy” rating and set a $135.00 price target for the company in a research report on Friday, November 3rd. Citigroup lifted their price target on Ross Stores from $133.00 to $136.00 and gave the stock a “buy” rating in a report on Friday, August 18th. Wells Fargo & Company increased their target price on shares of Ross Stores from $135.00 to $140.00 and gave the company an “overweight” rating in a research report on Friday. Evercore ISI began coverage on Ross Stores in a research note on Tuesday, November 7th. They set an “outperform” rating and a $140.00 price target on the stock. Finally, Barclays upped their price objective on Ross Stores from $122.00 to $129.00 and gave the company an “overweight” rating in a research note on Tuesday, August 15th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and seventeen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $129.38.

Ross Stores Stock Performance

Ross Stores stock traded up $10.94 during midday trading on Friday, hitting $131.09. 3,354,032 shares of the company were exchanged, compared to its average volume of 2,288,522. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.25 and a current ratio of 1.83. The business has a fifty day simple moving average of $116.22 and a two-hundred day simple moving average of $112.20. Ross Stores has a fifty-two week low of $99.00 and a fifty-two week high of $131.31. The firm has a market capitalization of $44.66 billion, a PE ratio of 27.67, a price-to-earnings-growth ratio of 2.02 and a beta of 1.00.

Ross Stores (NASDAQ:ROST) last announced its earnings results on Thursday, November 16th. The apparel retailer reported $1.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.22 by $0.11. Ross Stores had a net margin of 8.36% and a return on equity of 37.36%. The company had revenue of $4.92 billion for the quarter, compared to analysts’ expectations of $4.84 billion. During the same quarter in the previous year, the company posted $1.00 EPS. The firm’s quarterly revenue was up 7.9% on a year-over-year basis. On average, sell-side analysts forecast that Ross Stores will post 5.24 earnings per share for the current year.

Insider Buying and Selling at Ross Stores

In other news, CMO Brian R. Morrow sold 25,945 shares of the company’s stock in a transaction dated Wednesday, August 23rd. The stock was sold at an average price of $121.53, for a total transaction of $3,153,095.85. Following the completion of the sale, the chief marketing officer now owns 67,033 shares in the company, valued at approximately $8,146,520.49. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, CMO Brian R. Morrow sold 25,945 shares of the firm’s stock in a transaction that occurred on Wednesday, August 23rd. The stock was sold at an average price of $121.53, for a total transaction of $3,153,095.85. Following the completion of the transaction, the chief marketing officer now owns 67,033 shares in the company, valued at approximately $8,146,520.49. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Barbara Rentler sold 23,254 shares of the company’s stock in a transaction on Monday, August 28th. The shares were sold at an average price of $120.02, for a total value of $2,790,945.08. Following the completion of the sale, the chief executive officer now owns 282,171 shares in the company, valued at $33,866,163.42. The disclosure for this sale can be found here. Insiders have sold a total of 89,948 shares of company stock valued at $10,643,727 in the last 90 days. 2.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Ross Stores

Several large investors have recently modified their holdings of ROST. First Capital Advisors Group LLC. bought a new stake in Ross Stores during the second quarter worth $27,000. Resurgent Financial Advisors LLC acquired a new stake in shares of Ross Stores during the 4th quarter worth $29,000. Quarry LP acquired a new position in shares of Ross Stores in the 1st quarter valued at approximately $29,000. Clearstead Advisors LLC lifted its position in shares of Ross Stores by 458.0% during the 3rd quarter. Clearstead Advisors LLC now owns 279 shares of the apparel retailer’s stock worth $32,000 after buying an additional 229 shares during the last quarter. Finally, Rock Creek Group LP acquired a new stake in Ross Stores in the third quarter valued at about $35,000. 84.79% of the stock is currently owned by 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 primarily to middle income households; and dd's DISCOUNTS stores sell its products at department and discount stores for households with moderate income.