RH (NYSE:RH) Price Target Cut to $320.00 by Analysts at Barclays

RH (NYSE:RH) had its price target cut by Barclays from $340.00 to $320.00 in a report released on Monday, Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Barclays‘s target price would suggest a potential downside of 3.26% from the stock’s current price.

Several other analysts have also commented on the stock. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $290.00 price objective on shares of RH in a research report on Tuesday, September 10th. Bank of America lifted their price objective on shares of RH from $310.00 to $359.00 and gave the stock a “buy” rating in a research report on Friday, September 13th. Citigroup lifted their price objective on shares of RH from $340.00 to $355.00 and gave the stock a “buy” rating in a research report on Friday, September 13th. The Goldman Sachs Group lowered their price objective on shares of RH from $264.00 to $226.00 and set a “sell” rating on the stock in a research report on Monday, June 17th. Finally, Morgan Stanley lifted their price objective on shares of RH from $300.00 to $310.00 and gave the stock an “equal weight” rating in a research report on Friday, September 13th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, RH currently has an average rating of “Hold” and an average target price of $322.54.

RH Price Performance

RH opened at $330.80 on Monday. The company’s 50-day moving average is $267.20 and its 200 day moving average is $267.10. RH has a fifty-two week low of $207.26 and a fifty-two week high of $354.86. The firm has a market capitalization of $6.10 billion, a P/E ratio of 91.63, a PEG ratio of 1.13 and a beta of 2.42.

RH (NYSE:RH) last released 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. RH had a net margin of 1.13% and a negative return on equity of 10.63%. The company had revenue of $829.66 million for the quarter, compared to analyst estimates of $824.52 million. During the same period last year, the firm earned $3.93 earnings per share. The firm’s revenue was up 3.6% on a year-over-year basis. On average, equities research analysts expect that RH will post 7.29 earnings per share for the current year.

Insider Activity

In other news, CEO Gary G. Friedman acquired 34,200 shares of RH stock in a transaction that occurred on Tuesday, June 25th. The stock was bought at an average price of $215.00 per share, with a total value of $7,353,000.00. Following the completion of the purchase, the chief executive officer now owns 3,339,263 shares in the company, valued at $717,941,545. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 28.10% of the company’s stock.

Hedge Funds Weigh In On RH

Several hedge funds have recently bought and sold shares of RH. Anomaly Capital Management LP grew its stake in 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 acquiring an additional 291,368 shares in the last quarter. Norges Bank purchased a new position in RH in the 4th quarter worth approximately $38,736,000. Granahan Investment Management LLC purchased a new position in RH in the 4th quarter worth approximately $24,915,000. Marshall Wace LLP grew its stake in RH by 58.6% in the 2nd quarter. Marshall Wace LLP now owns 174,324 shares of the company’s stock worth $42,612,000 after buying an additional 64,423 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD grew its stake in RH by 10.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 665,383 shares of the company’s stock worth $231,728,000 after buying an additional 62,198 shares in the last quarter. Hedge funds and other institutional investors own 90.17% of the company’s stock.

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.