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Ross Stores (ROST) Stock Tanks, Piper Jaffray: No One Is Immune

NEW YORK (TheStreet) -- Ross Stores (ROST - Get Report) shares are tumbling 3.49% to $55.55 on Wednesday morning after Piper Jaffray slashed its rating to "underweight" from "neutral" earlier today, citing numerous headwinds.

The firm said shares could be adversely impacted by the weakening consumer environment, leading it to be bearish.

"We have observed a softening of activity in the off-price formats among both women and teens in our respective survey sets," analysts noted.

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