Ross Stores Inc. [NASDAQ: ROST] closed the trading session at $117.14 on 12/08/22. The day’s price range saw the stock hit a low of $115.24, while the highest price level was $117.28. The company report on November 17, 2022 that Ross Stores Reports Third Quarter Earnings, Updates Fourth Quarter Guidance.
Ross Stores, Inc. (NASDAQ: ROST) today reported earnings per share for the third quarter ended October 29, 2022 of $1.00 on net income of $342 million. These results compare to earnings per share of $1.09 on net income of $385 million for the 13 weeks ended October 30, 2021. Sales for the 2022 third quarter were $4.6 billion, in line with the prior year, with comparable store sales down 3% on top of a robust 14% gain for the same period in 2021.
For the nine months ended October 29, 2022, earnings per share were $3.08 on net earnings of $1.1 billion, versus $3.82 per share on net income of $1.4 billion for the same year-to-date period in 2021. Sales for the first nine months of 2022 were $13.5 billion, with comparable store sales down 5% on top of a strong 14% increase last year.
The stocks have a year to date performance of 2.50 percent and weekly performance of -0.71 percent. The stock has been moved at 46.87 percent over the last six months. The stock has performed 27.20 percent around the most recent 30 days and changed 25.27 percent over the most recent 3-months.
If compared to the average trading volume of 2.70M shares, ROST reached to a volume of 2467549 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here’s what leading stock market gurus have to say about Ross Stores Inc. [ROST]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for ROST shares is $119.41 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on ROST stock is a recommendation set at 2.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Gordon Haskett have made an estimate for Ross Stores Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on November 18, 2022. While these analysts kept the previous recommendation, Wells Fargo dropped their target price from $90 to $110. The new note on the price target was released on October 25, 2022, representing the official price target for Ross Stores Inc. stock. Previously, the target price had yet another raise to $102, while Goldman analysts kept a Buy rating on ROST stock. On May 20, 2022, analysts decreased their price target for ROST shares from 145 to 80.
The Average True Range (ATR) for Ross Stores Inc. is set at 3.19, with the Price to Sales ratio for ROST stock in the period of the last 12 months amounting to 2.18. The Price to Book ratio for the last quarter was 9.79, with the Price to Cash per share for the same quarter was set at 11.34.
ROST stock trade performance evaluation
Ross Stores Inc. [ROST] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -0.71. With this latest performance, ROST shares gained by 27.20% in over the last four-week period, additionally plugging by 46.87% over the last 6 months – not to mention a rise of 3.54% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for ROST stock in for the last two-week period is set at 72.00, with the RSI for the last a single of trading hit 70.72, and the three-weeks RSI is set at 70.68 for Ross Stores Inc. [ROST]. The present Moving Average for the last 50 days of trading for this stock 97.26, while it was recorded at 117.08 for the last single week of trading, and 90.00 for the last 200 days.
Ross Stores Inc. [ROST]: An insightful look at the core fundamentals
Operating Margin for any stock indicates how profitable investing would be, and Ross Stores Inc. [ROST] shares currently have an operating margin of +12.33 and a Gross Margin at +27.53. Ross Stores Inc.’s Net Margin is presently recorded at +9.11.
Return on Equity for this stock inclined to 46.87, with Return on Assets sitting at 12.17.
Ross Stores Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.20 and a Current Ratio set at 1.90.
Earnings per share (EPS) analysis for Ross Stores Inc. [ROST] stock
The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for ROST. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Ross Stores Inc. go to 5.66%.
Ross Stores Inc. [ROST]: Insider Ownership positions
There are presently around $36,564 million, or 91.80% of ROST stock, in the hands of institutional investors. The top three institutional holders of ROST stocks are: PRICE T ROWE ASSOCIATES INC /MD/ with ownership of 46,809,965, which is approximately -5.735% of the company’s market cap and around 0.10% of the total institutional ownership; BLACKROCK INC., holding 31,162,193 shares of the stock with an approximate value of $3.65 billion in ROST stocks shares; and VANGUARD GROUP INC, currently with $3.26 billion in ROST stock with ownership of nearly 0.823% of the company’s market capitalization.
Positions in Ross Stores Inc. stocks held by institutional investors increased at the end of November and at the time of the November reporting period, where 346 institutional holders increased their position in Ross Stores Inc. [NASDAQ:ROST] by around 21,032,445 shares. Additionally, 389 investors decreased positions by around 19,121,840 shares, while 139 investors held positions by with 271,982,230 shares. The mentioned changes placed institutional holdings at 312,136,515 shares, according to the latest SEC report filing. ROST stock had 81 new institutional investments in for a total of 8,776,674 shares, while 81 institutional investors sold positions of 6,801,504 shares during the same period.