Ross Stores Inc. [NASDAQ: ROST] traded at a high on 03/16/23, posting a 0.92 gain after which it closed the day’ session at $103.24. The company report on March 6, 2023 that ROSS STORES OPENS 19 NEW LOCATIONS.
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Ross Stores, Inc. opened 11 Ross Dress for Less® (“Ross”) and eight dd’s DISCOUNTS® stores in 13 different states in February and March. Both chains expanded into existing markets including locations in California, Texas, and Florida. For dd’s, growth also included their first store in the state of Wisconsin. These new locations are part of the Company’s plans to add approximately 100 new stores, comprised of about 75 Ross and 25 dd’s DISCOUNTS, during fiscal 2023.
The results of the trading session contributed to over 3167663 shares changing hands. Over the past one week, the price volatility of Ross Stores Inc. stands at 2.27% while the volatility over the past one month is 2.16%.
The market cap for ROST stock reached $36.03 billion, with 342.12 million shares outstanding and 338.20 million shares in the current float. Compared to the average trading volume of 2.28M shares, ROST reached a trading volume of 3167663 in the most recent trading day, which is why market watchdogs consider the stock to be active.
What do top market gurus 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 $123.71 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 2.44, with the Price to Sales ratio for ROST stock in the period of the last 12 months amounting to 1.93. The Price to Book ratio for the last quarter was 8.52, with the Price to Cash per share for the same quarter was set at 11.19.
How has ROST stock performed recently?
Ross Stores Inc. [ROST] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -2.20. With this latest performance, ROST shares dropped by -11.61% in over the last four-week period, additionally plugging by 15.40% over the last 6 months – not to mention a rise of 18.04% 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 25.30, with the RSI for the last a single of trading hit 22.66, and the three-weeks RSI is set at 30.20 for Ross Stores Inc. [ROST]. The present Moving Average for the last 50 days of trading for this stock 114.36, while it was recorded at 103.36 for the last single week of trading, and 96.94 for the last 200 days.
Ross Stores Inc. [ROST]: Deeper insight into the fundamentals
Operating Margin for any stock indicates how profitable investing would be, and Ross Stores Inc. [ROST] shares currently have an operating margin of +10.65 and a Gross Margin at +25.40. Ross Stores Inc.’s Net Margin is presently recorded at +8.09.
Return on Equity for this stock inclined to 36.22, with Return on Assets sitting at 10.79.
Ross Stores Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.20 and a Current Ratio set at 2.00.
Earnings analysis for Ross Stores Inc. [ROST]
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 8.13%.
Insider trade positions for Ross Stores Inc. [ROST]
There are presently around $31,988 million, or 92.50% 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 46,857,965, which is approximately 0.103% of the company’s market cap and around 0.10% of the total institutional ownership; BLACKROCK INC., holding 28,871,286 shares of the stock with an approximate value of $2.98 billion in ROST stocks shares; and VANGUARD GROUP INC, currently with $2.89 billion in ROST stock with ownership of nearly 0.693% of the company’s market capitalization.
Positions in Ross Stores Inc. stocks held by institutional investors increased at the end of Tuesday and at the time of the Tuesday reporting period, where 430 institutional holders increased their position in Ross Stores Inc. [NASDAQ:ROST] by around 20,542,903 shares. Additionally, 384 investors decreased positions by around 22,604,004 shares, while 135 investors held positions by with 266,698,389 shares. The mentioned changes placed institutional holdings at 309,845,296 shares, according to the latest SEC report filing. ROST stock had 159 new institutional investments in for a total of 4,720,522 shares, while 49 institutional investors sold positions of 2,075,342 shares during the same period.