Wells Fargo & Company Raises RH (NYSE:RH) Price Target to $350.00

RH (NYSE:RH) had its price target increased by Wells Fargo & Company from $325.00 to $350.00 in a report issued on Friday morning, Benzinga reports. The brokerage currently has an overweight rating on the stock.

Other research analysts also recently issued reports about the stock. TD Cowen dropped their target price on shares of RH from $350.00 to $325.00 and set a buy rating on the stock in a research report on Friday, June 14th. Loop Capital cut 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. Telsey Advisory Group restated a market perform rating and issued a $290.00 target price on shares of RH in a report on Tuesday, September 10th. The Goldman Sachs Group lowered their price target on RH from $264.00 to $226.00 and set a sell rating on the stock in a report on Monday, June 17th. Finally, BNP Paribas raised RH to a hold rating in a research report on Friday, June 14th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the company. According to data from MarketBeat, RH currently has an average rating of Hold and an average target price of $313.08.

RH Stock Performance

Shares of NYSE RH opened at $321.87 on Friday. RH has a 1 year low of $207.26 and a 1 year high of $354.86. The firm has a market cap of $5.94 billion, a P/E ratio of 89.16, a PEG ratio of 1.13 and a beta of 2.42. The stock has a fifty day moving average price of $263.59 and a two-hundred day moving average price of $266.33.

RH (NYSE:RH) last issued its quarterly earnings results on Thursday, September 12th. The company reported $1.69 earnings per share for the quarter, beating analysts’ consensus estimates of $1.56 by $0.13. The company had revenue of $829.66 million during the quarter, compared to the consensus estimate of $824.52 million. RH had a net margin of 1.13% and a negative return on equity of 10.63%. RH’s revenue was up 3.6% on a year-over-year basis. During the same period in the prior year, the company earned $3.93 EPS. On average, research analysts predict that RH will post 7.29 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Gary G. Friedman bought 34,200 shares of the business’s stock in a transaction that occurred on Tuesday, June 25th. The stock was purchased at an average cost of $215.00 per share, for a total transaction of $7,353,000.00. Following the purchase, the chief executive officer now directly 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 through this link. Company insiders own 28.10% of the company’s stock.

Hedge Funds Weigh In On RH

A number of hedge funds and other institutional investors have recently made changes to their positions in RH. Texas Permanent School Fund Corp lifted its position in shares of RH by 25.3% during the 2nd quarter. Texas Permanent School Fund Corp now owns 16,765 shares of the company’s stock worth $4,098,000 after buying an additional 3,387 shares during the period. Findell Capital Management LLC acquired a new stake in shares of RH in the 4th quarter valued at $5,247,000. First Eagle Investment Management LLC boosted its stake in shares of RH by 247.5% in the 4th quarter. First Eagle Investment Management LLC now owns 13,732 shares of the company’s stock valued at $4,003,000 after purchasing an additional 9,780 shares in the last quarter. First Hawaiian Bank grew its holdings in shares of RH by 116.2% in the 2nd quarter. First Hawaiian Bank now owns 5,718 shares of the company’s stock worth $1,398,000 after purchasing an additional 3,073 shares during the last quarter. Finally, Entropy Technologies LP acquired a new stake in shares of RH during the 1st quarter worth about $2,200,000. 90.17% of the stock is owned by institutional investors.

RH Company Profile

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.