It’s still a bull thesis, just subverted: Ross Stores Inc. (ROST)

Ross Stores Inc. [ROST] stock prices are up 0.92% to $103.24 at the moment. It is a good measure of the stock’s recent performance to check whether the stock’s short-term value is rising or falling. The ROST shares have lost -2.20% over the last week, with a monthly amount drifted -11.61%, and not seem to be holding up well over a long-time horizon.

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On 6, March 2023, ROSS STORES OPENS 19 NEW LOCATIONS. In a post published today on Yahoo Finance, TARGETING APPROXIMATELY 100 OPENINGS IN 2023.

From an analyst’s perspective:

Ross Stores Inc. [NASDAQ: ROST] stock has seen the most recent analyst activity on November 18, 2022, when Gordon Haskett upgraded its rating to a Buy but kept the price target unchanged to $130 for it. Previously, Wells Fargo upgraded its rating to Overweight on October 25, 2022, and elevated its price target to $110. On August 02, 2022, Goldman initiated with a Buy rating and assigned a price target of $102 on the stock. Telsey Advisory Group downgraded its rating to a Market Perform and decreased its price target to $80 on May 20, 2022. Bernstein initiated its recommendation with a Outperform and recommended $125 as its price target on March 15, 2022. Gordon Haskett downgraded its rating to Hold for this stock on February 10, 2022, and downed its price target to $106. In a note dated January 03, 2022, Wells Fargo downgraded an Equal Weight rating on this stock and revised its target price from $135 to $120.

The stock price of Ross Stores Inc. [ROST] has been fluctuating between $69.24 and $122.44 over the past year. Currently, Wall Street analysts expect the stock to reach $124.05 within the next 12 months. Ross Stores Inc. [NASDAQ: ROST] shares were valued at $103.24 at the most recent close of the market. An investor can expect a potential return of 20.16% based on the average ROST price forecast.

Analyzing the ROST fundamentals

The most recent quarter, Ross Stores Inc. [NASDAQ:ROST] reported sales of 5.21 billion, representing a drop of -0.20%. Gross Margin for this corporation currently stands at +25.40% with Operating Margin at +10.65%, Pretax Margin comes in at +10.63%, and Net Margin reading is +8.09%.

Before buying any particular stock, readers tend to pay close attention to the indicators that support and create resistance. The company’s stock is currently sitting at 101.83 points at the first support level, and at 100.43 for the second support level. However, for the 1st resistance point, the stock is sitting at 103.96, and for the 2nd resistance point, it is at 104.69.

Ross Stores Inc. [ROST] reported earnings per share of $1 for its fiscal quarter that ended on 10/30/2022. Based on the Wall Street analysts’ estimates, the company was expected to report earnings of $0.81/share, meaning a difference of $0.19 and a surprise factor of 23.50%. By comparison, the stated earnings for the previous quarter ended on 7/30/2022 were $1.11 per share as compared to estimates of $0.99 per share, a difference of $0.12 representing a surprise of 12.10%.

Ratios To Look Out For

It’s worth pointing out that Ross Stores Inc. [NASDAQ:ROST]’s Current Ratio is 2.00. Further, the Quick Ratio stands at 1.34, while the Cash Ratio is 1.26. Considering the valuation of this stock, the price to sales ratio is 2.21 and the P/E (TTM) ratio is 23.55.

Transactions by insiders

Recent insider trading involved Hartshorn Michael J., GROUP PRESIDENT, COO, that happened on Mar 06 when 20529.0 shares were sold. Director, BUSH MICHAEL J completed a deal on Jun 08 to sell 1000.0 shares.