Ross Stores Inc.’s recently made public that its Director BUSH MICHAEL J unloaded Company’s shares for reported $81456.0 on Jun 08. In the deal valued at $81.46 per share,1,000 shares were sold. As a result of this transaction, BUSH MICHAEL J now holds 34,496 shares worth roughly $ 3.81 million.
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Gordon Haskett upgraded its Ross Stores Inc. [ROST] rating to a Buy from a a Hold in a research note published on Tuesday. PT values the company’s stock at a premium of 14.97 to its Tuesday closing price. A number of analysts have revised their coverage, including Wells Fargo’s analysts, who increased its forecast for the stock in late October from “an Equal weight” to “an Overweight”. Goldman began covering ROST with “Buy” recommendation on August 02, 2022. Telsey Advisory Group revised its rating on May 20, 2022. It rated ROST as “a Market perform” which previously was an “an Outperform”.
Price Performance Review of ROST
On Tuesday, Ross Stores Inc. [NASDAQ:ROST] saw its stock fall -0.34% to $110.54. On the same session, the stock had its day’s lowest price of $110.40, but rose to a high of $111.89. Over the last five days, the stock has lost -2.10%. Ross Stores Inc. shares have fallen nearly -4.76% since the year began. Nevertheless, the stocks have risen 19.21% over the past one year. While a 52-week high of $122.44 was reached on 01/06/23, a 52-week low of $69.24 was recorded on 02/24/23. SMA at 50 days reached $116.18, while 200 days put it at $95.67. A total of 3.49 million shares were traded, compared to the trading of 1.99 million shares in the previous session.
Levels Of Support And Resistance For ROST Stock
The 24-hour chart illustrates a support level at 110.00, which if violated will result in even more drops to 109.45. On the upside, there is a resistance level at 111.49. A further resistance level may holdings at 112.43. The Relative Strength Index (RSI) on the 14-day chart is 31.03, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -3.02, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 90.65%. Stochastics %K at 15.13% indicates the stock is a buying.
How much short interest is there in Ross Stores Inc.?
A steep rise in short interest was recorded in Ross Stores Inc. stocks on Jan 12, 2023, dropping by -1.22 million shares to a total of 4.56 million shares. Yahoo Finance data shows the prior-month short interest on Dec 14, 2022 was 5.78 million shares. There was a decline of -26.75%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 1.59% of the overall stock float, the days-to-cover ratio (short ratio) fell to 2.02.
Ross Stores Inc. [ROST] – Who Are The Largest Shareholders?
In filings from T. Rowe Price Associates, Inc., it is revealed that the company now owns 46,857,965 shares, or roughly 13.61% of the outstanding ROST shares. In other words, the investor’s shares have risen by 48,000 from its previous 13-F filing of 46809965.0. Additionally, The Vanguard Group, Inc. increased 0.69% of its stake after which the total value it holdings stand at $3,144,781,201, while BlackRock Fund Advisors added 3.02% of its stake to hold $1.97 billion in the firm. Over the last quarter, SSgA Funds Management, Inc. sold -488,061 shares of Ross Stores Inc., while Fidelity Management & Research Co sold -141,584 shares. At present, PRIMECAP Management Co. is holding 11,180,194 shares valued at $1.32 billion. Wellington Management Co. LLP owned 7,468,386 shares of the company at the time of its most recent 13F filing, worth $882.69 million.
According to FactSet, Ross Stores Inc.’s share price will average $124.70 in the next year, based on opinions of analysts polled by the firm. This is up nearly 12.69 percent from its previous closing price of $110.92. Analysts expect Ross Stores Inc. stock to reach the higher price of $139.00, while the lowest price estimate is $105.00. However, 23 analysts have rated ROST stock as an Overweight in their predictions for 2023. The most recent change occurred on March 15, 2022 when Bernstein began covering the stock and recommended ‘”an Outperform”‘ rating along with a $125 price target.