Short Interest in Ross Stores, Inc. (ROST) Declines By 28.6%

Ross Stores, Inc. (NASDAQ:ROST) was the target of a large drop in short interest during the month of January. As of January 31st, there was short interest totalling 5,304,290 shares, a drop of 28.6% from the January 15th total of 7,429,426 shares. Based on an average trading volume of 2,219,109 shares, the days-to-cover ratio is presently 2.4 days. Currently, 1.5% of the company’s shares are sold short.

Several equities analysts recently issued reports on the company. Zacks Investment Research upgraded Ross Stores from a “hold” rating to a “buy” rating and set a $103.00 price target on the stock in a research report on Wednesday, January 23rd. Loop Capital set a $100.00 price target on Ross Stores and gave the stock a “buy” rating in a research report on Tuesday, November 20th. BidaskClub lowered Ross Stores from a “buy” rating to a “hold” rating in a research report on Friday, November 16th. MKM Partners reduced their price target on Ross Stores from $98.00 to $95.00 and set a “buy” rating on the stock in a research report on Wednesday, November 21st. Finally, Nomura reduced their price target on Ross Stores from $101.00 to $95.00 and set a “buy” rating on the stock in a research report on Wednesday, November 21st. Twelve research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $95.92.

Hedge funds have recently made changes to their positions in the business. BerganKDV Wealth Management LLC boosted its holdings in shares of Ross Stores by 3.0% in the 4th quarter. BerganKDV Wealth Management LLC now owns 4,259 shares of the apparel retailer’s stock valued at $354,000 after buying an additional 126 shares during the period. Benjamin F. Edwards & Company Inc. raised its position in shares of Ross Stores by 1.2% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 12,278 shares of the apparel retailer’s stock worth $1,022,000 after buying an additional 145 shares in the last quarter. Quadrant Capital Group LLC raised its position in shares of Ross Stores by 21.4% during the 4th quarter. Quadrant Capital Group LLC now owns 997 shares of the apparel retailer’s stock worth $73,000 after buying an additional 176 shares in the last quarter. Ballentine Partners LLC raised its position in shares of Ross Stores by 3.1% during the 4th quarter. Ballentine Partners LLC now owns 6,051 shares of the apparel retailer’s stock worth $503,000 after buying an additional 184 shares in the last quarter. Finally, Cozad Asset Management Inc. raised its position in shares of Ross Stores by 4.0% during the 4th quarter. Cozad Asset Management Inc. now owns 4,880 shares of the apparel retailer’s stock worth $406,000 after buying an additional 187 shares in the last quarter. 92.27% of the stock is owned by institutional investors.

Shares of ROST stock opened at $94.13 on Tuesday. The company has a market capitalization of $34.69 billion, a PE ratio of 28.18, a price-to-earnings-growth ratio of 2.08 and a beta of 0.91. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.73 and a current ratio of 1.61. Ross Stores has a fifty-two week low of $73.76 and a fifty-two week high of $104.35.

Ross Stores (NASDAQ:ROST) last issued its quarterly earnings data on Tuesday, November 20th. The apparel retailer reported $0.91 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.90 by $0.01. Ross Stores had a return on equity of 48.34% and a net margin of 10.68%. The company had revenue of $3.55 billion during the quarter, compared to analyst estimates of $3.55 billion. During the same quarter in the previous year, the company posted $0.72 earnings per share. Ross Stores’s revenue was up 6.6% compared to the same quarter last year. Research analysts forecast that Ross Stores will post 4.2 earnings per share for the current year.

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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 brands in the United States. It primarily offers 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 regular prices to customers from households with moderate income.

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