Goldman slashes price target on Ross Stores Inc. [ROST] – find out why.

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Ross Stores Inc. [NASDAQ: ROST] A -1.43% loss in the last trading session, to $86.59 per share at that time. Company report on August 18 2022 Ross Stores announces second-quarter earnings.


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Provides updated second-half and financial guidance for 2022.

Ross Stores (NASDAQ: ROST) today announced earnings per share for the week ended July 30, 2022 of $1.11 on net income of $385 million. These results compare to $1.39 per share on net earnings of $494 million for the 13 weeks ended July 31, 2021. Sales for the second quarter of 2022 were $4.6 billion versus $4.8 billion in the same period the previous year. Similar-store sales fell 7% on top of a solid 15% gain in the second quarter of 2021, which was the strongest period last year.

Ross Stores Inc. represents 344.88 million shares traded, while the company’s total market capitalization is $29.82 billion with the latest information. ROST stock price is found in the range from $86,015 to $88.24.

If you compare the average trading volume of 2.71 million shares, then the trading volume of ROST reached 3671904 on the last trading day, which is why market watchers consider the stock to be active.

Here’s what top stock market experts have to say about Ross Stores Inc. [ROST]:

Based on careful, fact-backed analysis by Wall Street experts, the current consensus on a target price for ROST shares is $98.96 per share. Target price analysis and stock performance are usually carefully studied by market experts, and the current Wall Street consensus on ROST stock is a set recommendation at 2.30. This rating represents a strong buy recommendation, on a scale of 1 to 5, where 5 means strong sell, 4 represents sell, 3 represents hold, and 2 indicates buy.

Goldman made an appreciation for Ross Stores Inc stock. , retaining their opinion of the stock as a buy, with their previous recommendation returned on August 2, 2022. While these analysts held the previous recommendation, Telsey Advisory Group raised its target price from $145 to $80. The new price target note was released on May 20, 2022, which is the official target price for Ross Stores stock. Previously, the target price had received another boost to $125, while Bernstein analysts maintained Outperform’s rating on ROST stock. On February 10, 2022, analysts lowered their target price for ROST shares from 130 to 106.

The Average True Range (ATR) is set for Ross Stores Inc. at 2.90, with a price-to-sales ratio for ROST stock in the past twelve-month period being 1.61. The price-to-book ratio for the last quarter was 7.23, with the price-to-cash per share for the same quarter set at 11.33.

Trading performance analysis for ROST . stock

Ross Stores Inc. [ROST] It fell into the red at the end of last week, fell in a negative direction and fell by -3.32. With this latest performance, ROST shares are down -1.56% over the past four-week period, and also -3.51% over the past six months – not to mention a -24.17% drop in the last year of trading.

Overbought and oversold stocks can be easily tracked by the Relative Strength Index (RSI), where an RSI result of over 70 is overbought, and any price below 30 indicates oversold conditions. The RSI of 50 represents neutral momentum in the market. The current RSI for the ROST stock for the past two weeks was set at 44.42, with the RSI for the last one trading at 38.00, and the three-week RSI at 47.85 for Ross Stores Inc. [ROST]. The current moving average of the last 50 trading days for this stock is 86.56 while it recorded at 88.75 for the last trading week, and 91.76 for the last 200 days.

Ross Stores Inc. [ROST]A deeper look at fundamental analysis

Operating margin for any stock indicates how profitable the investment is, Ross Stores Inc. explains. [ROST] The equity’s current operating margin is +12.33 and the gross margin is +27.53. Net margin reported to Ross Stores Inc. Currently at +9.11.

Return on equity increased to 46.87, with return on assets remaining at 12.17.

The liquidity data of Ross Stores Inc. Interesting too, with the quick ratio at 1.20 and the current ratio at 1.90.

Ross Stores Inc. [ROST]Earnings per share (EPS) analysis

The company’s progress can be seen through the perspective of the EPS growth rate, while Wall Street analysts focus on forecasting the 5-year EPS growth rate for ROST. When it comes to the stated value, analysts expect the 5-year EPS growth rate to rise for Ross Stores Inc. to 3.80%.

Insider Ownership Analysis of Ross Stores Inc. [ROST]

There are currently about $26,970 million, or 92.20% of ROST’s stock, in the hands of institutional investors. The three largest corporate owners of ROST shares are: PRICE T ROWE ASSOCIATES INC / MD / with 49,657,768 ownership, which is approximately 2.044% of the company’s market capitalization and about 0.40% of the total corporate ownership; BLACKROCK INC. , owns 31,566,771 shares of stock with an approximate value of $2.73 billion in ROST stock; and VANGUARD GROUP INC, which currently holds $2.39 billion in ROST stock with ownership of approximately 0.391% of the company’s market capitalization.

Positions in Ross Stores, Inc. shares held by institutional investors increased at the end of August and at the time of the August report, with 362 institutional owners consolidating their positions in Ross Stores Inc. [NASDAQ:ROST] About 32235839 shares. In addition, the number of investors decreased 425 positions by about 26898494 shares, while 119 investors occupied positions with 252334208 shares. The said changes put institutional holdings at 311,468,541 shares, according to the latest report from the Securities and Exchange Commission. ROST had 87 new institutional investments totaling 7,718,975 shares, while 103 institutional investors sold deals totaling 6,389,331 shares during the same period.

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