Today’s Stock On Watch: Does Ross Stores, Inc. Have More Gas After Achieving All Time High?

Today's Stock On Watch: Does Ross Stores, Inc. Have More Gas After Achieving All Time High?

The stock of Ross Stores, Inc. (NASDAQ:ROST) reached all time high today, Nov, 18 and still has $91.00 target or 33.00% above today’s $68.42 share price. This indicates more upside for the $27.84 billion company. This technical setup was reported by Barchart.com. If the $91.00 PT is reached, the company will be worth $9.19B more.
Trading stocks at an all time highs is usually a winning strategy. An all time high points to a stock which has the most positive fundamentals ever. Even thought the pullback rate is high, if correct risk management is utilized, investors can trade very well such events. About 2.30 million shares traded hands. Ross Stores, Inc. (NASDAQ:ROST) has risen 13.43% since April 18, 2016 and is uptrending. It has outperformed by 9.00% the S&P500.

Ross Stores, Inc. (NASDAQ:ROST) Ratings Coverage

Out of 16 analysts covering Ross Stores Inc. (NASDAQ:ROST), 8 rate it a “Buy”, 1 “Sell”, while 7 “Hold”. This means 50% are positive. Ross Stores Inc. has been the topic of 32 analyst reports since August 21, 2015 according to StockzIntelligence Inc. The stock of Ross Stores, Inc. (NASDAQ:ROST) earned “Hold” rating by Cantor Fitzgerald on Friday, August 21. Goldman Sachs downgraded Ross Stores, Inc. (NASDAQ:ROST) on Wednesday, March 9 to “Neutral” rating. On Friday, August 19 the stock rating was maintained by Goldman Sachs with “Neutral”. The firm has “Buy” rating by Citigroup given on Wednesday, October 7. The firm has “Buy” rating given on Monday, August 24 by S&P Research. The rating was maintained by Citigroup on Friday, August 19 with “Buy”. The rating was upgraded by Buckingham Research on Monday, August 24 to “Neutral”. Telsey Advisory Group maintained the stock with “Market Perform” rating in Friday, November 18 report. M Partners upgraded the stock to “Buy” rating in Wednesday, March 2 report. Miller Tabak initiated Ross Stores, Inc. (NASDAQ:ROST) rating on Friday, June 24. Miller Tabak has “Buy” rating and $66 price target.

According to Zacks Investment Research, “Ross Stores, Inc. operates a chain of off-price retail apparel and home accessories stores, which target value conscious men and women between the ages of 25 and 54 in middle-to-upper middle income households. The decisions of the company, from merchandising, purchasing and pricing, to the location of its stores, are aimed at this customer base. The company offers brand name and designer merchandise at low everyday prices, generally below regular prices of most department and specialty stores.”

Insitutional Activity: The institutional sentiment decreased to 0.84 in 2016 Q2. Its down 0.09, from 0.93 in 2016Q1. The ratio worsened, as 60 funds sold all Ross Stores, Inc. shares owned while 226 reduced positions. 56 funds bought stakes while 211 increased positions. They now own 350.06 million shares or 0.67% less from 352.42 million shares in 2016Q1.
State Board Of Administration Of Florida Retirement, a Florida-based fund reported 585,733 shares. Raymond James holds 0.06% or 109,988 shares in its portfolio. Hirtle Callaghan Ltd Llc has 5,240 shares for 0.06% of their US portfolio. The Rhode Island-based Amica Retiree Trust has invested 0.12% in Ross Stores, Inc. (NASDAQ:ROST). Neuberger Berman Gru Limited Liability Co reported 509,722 shares or 0.04% of all its holdings. Victory accumulated 0.52% or 2.31M shares. Moreover, Hartline Investment Corp has 0.14% invested in Ross Stores, Inc. (NASDAQ:ROST) for 6,900 shares. Fiduciary Mngmt Inc Wi accumulated 7.34 million shares or 2.54% of the stock. Dimensional Fund L P reported 1.07 million shares or 0.03% of all its holdings. Pioneer owns 3.60M shares or 0.74% of their US portfolio. Teachers Advsr Inc owns 1.02M shares or 0.1% of their US portfolio. Messner Smith Theme Value Invest Management Ltd Ca owns 15,482 shares or 1.62% of their US portfolio. Norinchukin Bankshares The last reported 21,076 shares in the company. The Japan-based Nippon Life Company has invested 0.05% in Ross Stores, Inc. (NASDAQ:ROST). The New York-based Blackrock has invested 0.09% in Ross Stores, Inc. (NASDAQ:ROST).

Insider Transactions: Since May 31, 2016, the stock had 0 insider purchases, and 6 sales for $17.50 million net activity. The insider BALMUTH MICHAEL sold 194,984 shares worth $10.42 million. 16,000 shares were sold by QUESNEL GREGORY L, worth $1.03M on Monday, October 3. 20,000 shares with value of $1.25M were sold by RENTLER BARBARA on Monday, September 19. ORBAN GEORGE sold $3.22M worth of stock. On Thursday, September 22 the insider FASSIO JAMES S sold $760,200.

More news for Ross Stores, Inc. (NASDAQ:ROST) were recently published by: Nasdaq.com, which released: “Ross Stores Inc. Reveals 13% Gain In Q3 Profit” on November 17, 2016. Forbes.com‘s article titled: “December 16th Options Now Available For Ross Stores (ROST)” and published on October 24, 2016 is yet another important article.

ROST Company Profile

Ross Stores, Inc., incorporated on March 29, 1989, is an off-price retailer of name brand and designer apparel, accessories, footwear, and home fashions for the entire family. The Firm and its subsidiaries operate two brands of off-price retail apparel and home fashion stores: Ross Dress for Less (Ross) and dd’s DISCOUNTS. Ross is an off-price apparel and home fashion chain in the United States, with approximately 1,274 locations in over 34 states, the District of Columbia and Guam. Ross’ target clients are primarily from middle income households.

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