Notable Mover: Ross Stores, Inc. Sets 52-Week High; Strong Momentum for Holders

Notable Mover: Ross Stores, Inc. Sets 52 Week High; Strong Momentum for Holders

The stock of Ross Stores, Inc. (NASDAQ:ROST) hit a new 52-week high and has $95.13 target or 39.00% above today’s $68.44 share price. The 5 months bullish chart indicates low risk for the $27.85 billion company. The 1-year high was reported on Nov, 18 by Barchart.com. If the $95.13 price target is reached, the company will be worth $10.86B more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 1.53 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. $72 is the highest target while $52 is the lowest. The $62.93 average target is -8.05% below today’s ($68.44) stock price. Ross Stores Inc. has been the topic of 32 analyst reports since August 21, 2015 according to StockzIntelligence Inc. Goldman Sachs maintained it with “Neutral” rating and $67 target price in Friday, August 19 report. Bernstein maintained the stock with “Market Perform” rating in Wednesday, March 2 report. S&P Research maintained Ross Stores, Inc. (NASDAQ:ROST) on Monday, August 24 with “Buy” rating. The rating was maintained by Cantor Fitzgerald on Friday, August 21 with “Hold”. Piper Jaffray downgraded the stock to “Underweight” rating in Wednesday, May 11 report. Citigroup initiated it with “Buy” rating and $59 target price in Wednesday, October 7 report. Miller Tabak initiated the stock with “Buy” rating in Friday, June 24 report. Buckingham Research upgraded the shares of ROST in a report on Monday, August 24 to “Neutral” rating. Deutsche Bank maintained it with “Buy” rating and $65 target price in Wednesday, March 2 report. The firm earned “Market Perform” rating on Friday, November 18 by Telsey Advisory Group.

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 Q2 2016. Its down 0.09, from 0.93 in 2016Q1. The ratio dropped, 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.
Cambridge Invest Advsr Inc holds 0.04% of its portfolio in Ross Stores, Inc. (NASDAQ:ROST) for 36,666 shares. Turner Investments L P holds 0.08% of its portfolio in Ross Stores, Inc. (NASDAQ:ROST) for 4,740 shares. Bb&T Ltd Liability last reported 0.01% of its portfolio in the stock. Federated Investors Pa has 0.01% invested in the company for 44,480 shares. Aviva Public Limited Com reported 254,284 shares or 0.1% of all its holdings. Moreover, Korea Invest has 0.06% invested in Ross Stores, Inc. (NASDAQ:ROST) for 167,900 shares. The Maryland-based Hussman Strategic Inc has invested 0.87% in Ross Stores, Inc. (NASDAQ:ROST). Comerica Financial Bank holds 0.07% or 126,196 shares in its portfolio. Citadel Advsrs Ltd Liability accumulated 4,726 shares or 0% of the stock. Commonwealth Comml Bank Of holds 0.02% of its portfolio in Ross Stores, Inc. (NASDAQ:ROST) for 28,908 shares. Fdx Advisors accumulated 30,791 shares or 0.08% of the stock. Marketfield Asset Mgmt Ltd Liability has 333,934 shares for 0.83% of their US portfolio. Kayne Anderson Rudnick Inv Mngmt Ltd Liability Co has 770,397 shares for 0.66% of their US portfolio. Moreover, Tiaa Cref Management Ltd Liability has 0.08% invested in Ross Stores, Inc. (NASDAQ:ROST) for 1.83M shares. Genesee Valley Tru holds 0.27% of its portfolio in Ross Stores, Inc. (NASDAQ:ROST) for 7,326 shares.

Insider Transactions: Since May 31, 2016, the stock had 0 buys, and 6 selling transactions for $17.50 million net activity. $1.25M worth of Ross Stores, Inc. (NASDAQ:ROST) was sold by RENTLER BARBARA on Monday, September 19. $3.22M worth of Ross Stores, Inc. (NASDAQ:ROST) was sold by ORBAN GEORGE. 194,984 shares were sold by BALMUTH MICHAEL, worth $10.42 million on Tuesday, May 31. FASSIO JAMES S sold $760,200 worth of Ross Stores, Inc. (NASDAQ:ROST) on Thursday, September 22. 16,000 shares were sold by QUESNEL GREGORY L, worth $1.03 million.

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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