Ross Stores (NASDAQ:ROST) Price Target Raised to $220.00

Ross Stores (NASDAQ:ROST) had its price objective lifted by Telsey Advisory Group from $175.00 to $220.00 in a report released on Wednesday morning, MarketBeat.com reports. They currently have a market perform rating on the apparel retailer’s stock.

Several other analysts have also commented on the stock. Barclays restated an “overweight” rating and issued a $205.00 price objective on shares of Ross Stores in a report on Tuesday, January 6th. Bank of America increased their target price on Ross Stores from $175.00 to $200.00 and gave the stock a “buy” rating in a research report on Friday, November 21st. Evercore raised their target price on Ross Stores from $175.00 to $195.00 and gave the company an “outperform” rating in a research note on Friday, November 21st. Sanford C. Bernstein reaffirmed a “market perform” rating and issued a $180.00 price target on shares of Ross Stores in a research note on Monday. Finally, Zacks Research upgraded Ross Stores from a “hold” rating to a “strong-buy” rating in a report on Monday, January 12th. Two analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $195.78.

Ross Stores Trading Up 1.1%

NASDAQ:ROST opened at $205.64 on Wednesday. The company has a 50-day moving average price of $190.57 and a 200-day moving average price of $169.91. The stock has a market cap of $66.51 billion, a price-to-earnings ratio of 32.13, a P/E/G ratio of 3.54 and a beta of 0.99. The company has a current ratio of 1.52, a quick ratio of 0.90 and a debt-to-equity ratio of 0.17. Ross Stores has a 12 month low of $122.36 and a 12 month high of $206.40.

Institutional Investors Weigh In On Ross Stores

Hedge funds have recently added to or reduced their stakes in the stock. Aspect Partners LLC raised its position in shares of Ross Stores by 251.7% in 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 during the last quarter. American National Bank & Trust purchased a new stake in Ross Stores during the 3rd quarter valued at about $26,000. Thurston Springer Miller Herd & Titak Inc. increased its stake in Ross Stores by 7,000.0% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 142 shares of the apparel retailer’s stock valued at $26,000 after purchasing an additional 140 shares in the last quarter. Hilton Head Capital Partners LLC purchased a new position in Ross Stores in the fourth quarter worth about $26,000. Finally, Grey Fox Wealth Advisors LLC bought a new position in shares of Ross Stores in the third quarter worth approximately $29,000. 86.86% of the stock is owned by 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.