Traders Buy Ross Stores (ROST) on Weakness

Traders purchased shares of Ross Stores, Inc. (NASDAQ:ROST) on weakness during trading hours on Wednesday. $88.95 million flowed into the stock on the tick-up and $30.94 million flowed out of the stock on the tick-down, for a money net flow of $58.01 million into the stock. Of all companies tracked, Ross Stores had the 9th highest net in-flow for the day. Ross Stores traded down ($1.00) for the day and closed at $82.39

Several analysts have recently weighed in on the company. BidaskClub downgraded Ross Stores from a “buy” rating to a “hold” rating in a report on Thursday, January 11th. Nomura set a $80.00 target price on Ross Stores and gave the company a “buy” rating in a report on Friday, November 17th. Telsey Advisory Group reissued a “buy” rating on shares of Ross Stores in a report on Friday, November 17th. Cowen set a $78.00 price objective on Ross Stores and gave the company a “buy” rating in a research note on Saturday, November 18th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $70.00 price objective (up from $62.00) on shares of Ross Stores in a research note on Friday, November 17th. Nine investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. Ross Stores currently has an average rating of “Buy” and an average price target of $74.19.

The company has a quick ratio of 0.68, a current ratio of 1.57 and a debt-to-equity ratio of 0.14. The company has a market cap of $31,485.01 and a PE ratio of 26.20.

Ross Stores (NASDAQ:ROST) last released its earnings results on Thursday, November 16th. The apparel retailer reported $0.72 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.67 by $0.05. Ross Stores had a return on equity of 43.21% and a net margin of 8.93%. The company had revenue of $3.33 billion for the quarter, compared to analysts’ expectations of $3.26 billion. During the same quarter in the previous year, the firm posted $0.62 EPS. The firm’s quarterly revenue was up 7.8% on a year-over-year basis. sell-side analysts forecast that Ross Stores, Inc. will post 3.29 earnings per share for the current year.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Kovack Advisors Inc. acquired a new stake in shares of Ross Stores in the 4th quarter worth approximately $338,000. Victory Capital Management Inc. grew its holdings in shares of Ross Stores by 2.7% in the 4th quarter. Victory Capital Management Inc. now owns 1,794,001 shares of the apparel retailer’s stock worth $143,969,000 after acquiring an additional 46,798 shares during the period. Highstreet Asset Management Inc. grew its holdings in shares of Ross Stores by 18.1% in the 4th quarter. Highstreet Asset Management Inc. now owns 24,070 shares of the apparel retailer’s stock worth $1,932,000 after acquiring an additional 3,690 shares during the period. Quantitative Systematic Strategies LLC acquired a new stake in shares of Ross Stores in the 4th quarter worth approximately $1,337,000. Finally, ZWJ Investment Counsel Inc. grew its holdings in shares of Ross Stores by 26.4% in the 4th quarter. ZWJ Investment Counsel Inc. now owns 4,584 shares of the apparel retailer’s stock worth $368,000 after acquiring an additional 956 shares during the period. Institutional investors own 91.41% of the company’s stock.

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Ross Stores Company Profile

Ross Stores, Inc and its subsidiaries operate two brands of off-price retail apparel and home fashion stores-Ross Dress for Less (Ross) and dd’s DISCOUNTS. The Company is the off-price apparel and home fashion chain in the United States, with 1,340 locations in 36 states, the District of Columbia and Guam, as of January 28, 2017.

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