Citigroup Raises RH (NYSE:RH) Price Target to $355.00

RH (NYSE:RH) had its price target lifted by Citigroup from $340.00 to $355.00 in a research note published on Friday, Benzinga reports. Citigroup currently has a buy rating on the stock.

Several other research firms also recently weighed in on RH. Telsey Advisory Group reissued a market perform rating and issued a $290.00 target price on shares of RH in a research report on Tuesday, September 10th. Loop Capital lowered their price objective on RH from $350.00 to $230.00 and set a hold rating for the company in a report on Monday, June 17th. The Goldman Sachs Group reduced their target price on RH from $264.00 to $226.00 and set a sell rating on the stock in a report on Monday, June 17th. BNP Paribas upgraded RH to a hold rating in a report on Friday, June 14th. Finally, Morgan Stanley raised their price objective on RH from $300.00 to $310.00 and gave the stock an equal weight rating in a research note on Friday. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of Hold and an average price target of $313.08.

RH Price Performance

RH stock opened at $321.87 on Friday. RH has a 12-month low of $207.26 and a 12-month high of $354.86. The company has a market capitalization of $5.94 billion, a price-to-earnings ratio of 89.16, a price-to-earnings-growth ratio of 1.08 and a beta of 2.42. The firm’s fifty day moving average price is $263.59 and its 200 day moving average price is $266.33.

RH (NYSE:RH) last issued its quarterly earnings results on Thursday, September 12th. The company reported $1.69 EPS for the quarter, beating analysts’ consensus estimates of $1.56 by $0.13. RH had a negative return on equity of 29.15% and a net margin of 2.72%. The firm had revenue of $829.66 million during the quarter, compared to the consensus estimate of $824.52 million. During the same quarter in the prior year, the business posted $3.93 earnings per share. RH’s revenue for the quarter was up 3.6% on a year-over-year basis. Analysts forecast that RH will post 7.29 earnings per share for the current fiscal year.

Insider Buying and Selling at RH

In related news, CEO Gary G. Friedman bought 34,200 shares of the firm’s stock in a transaction that occurred on 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 transaction, the chief executive officer now directly owns 3,339,263 shares of the company’s stock, valued at approximately $717,941,545. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 28.10% of the stock is owned by company insiders.

Institutional Investors Weigh In On RH

Several large investors have recently modified their holdings of the stock. Price T Rowe Associates Inc. MD grew its holdings in shares of RH by 10.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 665,383 shares of the company’s stock valued at $231,728,000 after buying an additional 62,198 shares in the last quarter. Anomaly Capital Management LP increased its holdings in shares of RH by 503.6% in the 2nd 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. Dimensional Fund Advisors LP lifted its position in shares of RH by 18.0% in the second quarter. Dimensional Fund Advisors LP now owns 270,993 shares of the company’s stock worth $66,239,000 after purchasing an additional 41,242 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its position in shares of RH by 24.2% in the second quarter. Allspring Global Investments Holdings LLC now owns 227,247 shares of the company’s stock worth $55,548,000 after purchasing an additional 44,278 shares in the last quarter. Finally, Marshall Wace LLP boosted its holdings in shares of RH by 58.6% during the second quarter. Marshall Wace LLP now owns 174,324 shares of the company’s stock worth $42,612,000 after purchasing an additional 64,423 shares during the period. 90.17% of the stock is owned by 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.