ROST - Watch for Continued Gains in Shares of Ross Stores Inc. (ROST)

Shares of Ross Stores Inc. (NASDAQ:ROST) traded at a new 52-week high today of $127.84. So far today approximately 253,000 shares have been exchanged, as compared to an average 30-day volume of 2.6 million shares.

Ross Stores is a leading American off-price apparel and home fashion retailer, operating over 1,850 stores (at the end of fiscal 2020) across the Ross Dress for Less and dd's Discounts banners. Ross offers a variety of name-brand products and targets undercutting conventional retailers' regular prices by 20%-70%. The company uses an opportunistic, flexible merchandising approach; together with a relatively low-frills shopping environment centered on a treasure-hunt experience, Ross maximizes inventory turnover and traffic, enabling its low-price approach. In fiscal 2020, 28% of sales came from home accents (including bed and bath), 23% from the ladies' department, 14% from each of men's and accessories, 12% from shoes, and 9% from children's. All sales were made in the United States.

Ross Stores Inc. (NASDAQ:ROST) is currently priced 2.9% above its average consensus analyst price target of $123.42.

Over the past year, Ross Stores Inc. has traded in a range of $79.65 to $127.84 and is now at $127.08, 60% above that low.

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