RH (NYSE:RH) PT Raised to $310.00 at Morgan Stanley

RH (NYSE:RH) had its target price upped by equities research analysts at Morgan Stanley from $300.00 to $310.00 in a report released on Friday, Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Morgan Stanley’s price objective suggests a potential downside of 3.69% from the stock’s current price.

A number of other research analysts have also recently weighed in on the stock. TD Cowen lowered their target price on shares of RH from $350.00 to $325.00 and set a “buy” rating on the stock in a research note on Friday, June 14th. Telsey Advisory Group restated a “market perform” rating and set a $290.00 target price on shares of RH in a research note on Tuesday, September 10th. BNP Paribas upgraded shares of RH to a “hold” rating in a research note on Friday, June 14th. Loop Capital lowered their target price on shares of RH from $350.00 to $230.00 and set a “hold” rating on the stock in a research note on Monday, June 17th. Finally, The Goldman Sachs Group lowered their target price on shares of RH from $264.00 to $226.00 and set a “sell” rating on the stock in a research note on Monday, June 17th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and six have issued a buy rating to the company. According to MarketBeat, RH presently has an average rating of “Hold” and an average target price of $313.08.

RH Price Performance

Shares of RH stock opened at $321.87 on Friday. The company’s fifty day simple moving average is $263.59 and its 200-day simple moving average is $266.32. The stock has a market capitalization of $5.94 billion, a PE ratio of 89.16, a P/E/G ratio of 1.08 and a beta of 2.42. RH has a 1-year low of $207.26 and a 1-year high of $354.86.

RH (NYSE:RH) last issued its quarterly earnings results on Thursday, September 12th. The company reported $1.69 earnings per share for the quarter, topping the consensus estimate of $1.56 by $0.13. The business had revenue of $829.66 million for the quarter, compared to analysts’ expectations of $824.52 million. RH had a net margin of 2.72% and a negative return on equity of 29.15%. The company’s revenue was up 3.6% compared to the same quarter last year. During the same quarter last year, the company posted $3.93 EPS. As a group, research analysts anticipate that RH will post 7.29 EPS for the current year.

Insider Buying and Selling at RH

In related news, CEO Gary G. Friedman bought 34,200 shares of the company’s stock in a transaction dated Tuesday, June 25th. The stock was purchased at an average price of $215.00 per share, for a total transaction of $7,353,000.00. Following the acquisition, the chief executive officer now owns 3,339,263 shares in the company, valued at $717,941,545. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 28.10% of the company’s stock.

Hedge Funds Weigh In On RH

A number of large investors have recently made changes to their positions in the company. Anomaly Capital Management LP boosted its stake in shares of RH by 503.6% during the second quarter. Anomaly Capital Management LP now owns 349,227 shares of the company’s stock valued at $85,365,000 after purchasing an additional 291,368 shares during the period. Norges Bank purchased a new stake in shares of RH in the 4th quarter worth $38,736,000. Granahan Investment Management LLC bought a new position in shares of RH during the 4th quarter worth $24,915,000. Marshall Wace LLP increased its stake in shares of RH by 58.6% during the second quarter. Marshall Wace LLP now owns 174,324 shares of the company’s stock valued at $42,612,000 after buying an additional 64,423 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted its stake in RH by 10.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 665,383 shares of the company’s stock worth $231,728,000 after acquiring an additional 62,198 shares during the period. 90.17% of the stock is owned by hedge funds and other institutional investors.

About RH

RH, together with its subsidiaries, operates as a retailer in the home furnishings market. The company offers products in various categories, including furniture, lighting, textiles, bathware, décor, outdoor and garden, baby, child, and teen furnishings. It provides its products through rh.com, rhbabyandchild.com, rhteen.com, rhmodern.com, and waterworks.com online channels, as well as operates RH Galleries, RH outlet stores, RH Guesthouse, and Waterworks showrooms in the United States, Canada, the United Kingdom, and Germany.