Ross Stores, Inc. (ROST) Sees Significant Decline in Short Interest

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Ross Stores, Inc. (NASDAQ:ROST) was the target of a large drop in short interest in 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 currently 2.4 days. Approximately 1.5% of the company’s stock are short sold.

Institutional investors and hedge funds have recently modified their holdings of the company. Fox Run Management L.L.C. purchased a new position in Ross Stores in the 3rd quarter worth $225,000. Cookson Peirce & Co. Inc. raised its stake in Ross Stores by 785.7% in the 3rd quarter. Cookson Peirce & Co. Inc. now owns 75,110 shares of the apparel retailer’s stock worth $7,443,000 after acquiring an additional 66,630 shares during the last quarter. First Hawaiian Bank purchased a new position in Ross Stores in the 3rd quarter worth $2,750,000. Global Retirement Partners LLC raised its stake in Ross Stores by 23.1% in the 3rd quarter. Global Retirement Partners LLC now owns 10,472 shares of the apparel retailer’s stock worth $1,038,000 after acquiring an additional 1,963 shares during the last quarter. Finally, BB&T Corp raised its stake in Ross Stores by 13.5% in the 3rd quarter. BB&T Corp now owns 30,085 shares of the apparel retailer’s stock worth $2,982,000 after acquiring an additional 3,586 shares during the last quarter. Hedge funds and other institutional investors own 92.27% of the company’s stock.

Shares of ROST opened at $94.64 on Thursday. Ross Stores has a 12 month low of $73.76 and a 12 month high of $104.35. The company has a quick ratio of 0.73, a current ratio of 1.61 and a debt-to-equity ratio of 0.10. The firm has a market cap of $35.12 billion, a PE ratio of 28.34, a price-to-earnings-growth ratio of 2.08 and a beta of 0.91.

Ross Stores (NASDAQ:ROST) last issued its quarterly earnings data on Tuesday, November 20th. The apparel retailer reported $0.91 EPS for the quarter, beating the 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 firm had revenue of $3.55 billion during the quarter, compared to analyst estimates of $3.55 billion. During the same quarter in the prior year, the business posted $0.72 EPS. The business’s revenue for the quarter was up 6.6% compared to the same quarter last year. Analysts forecast that Ross Stores will post 4.2 earnings per share for the current year.

Several brokerages have issued reports on ROST. Bank of America increased their target price on Ross Stores from $105.00 to $115.00 and gave the company a “buy” rating in a research report on Wednesday, November 14th. BidaskClub cut Ross Stores from a “strong-buy” rating to a “buy” rating in a research report on Friday, November 2nd. Zacks Investment Research reaffirmed a “buy” rating and set a $113.00 target price on shares of Ross Stores in a research report on Thursday, November 15th. Loop Capital increased their target price on Ross Stores to $105.00 and gave the company a “buy” rating in a research report on Thursday, January 24th. Finally, ValuEngine raised Ross Stores from a “hold” rating to a “buy” rating in a research report on Thursday, November 29th. Twelve research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the stock. Ross Stores currently has a consensus rating of “Buy” and a consensus price target of $95.92.

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About Ross Stores

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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