Public Employees Retirement System of Ohio Cuts Stock Position in RH (NYSE:RH)

Public Employees Retirement System of Ohio cut its position in RH (NYSE:RH) by 4.2% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,623 shares of the company’s stock after selling 249 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in RH were worth $1,880,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of RH. Raymond James & Associates boosted its position in shares of RH by 28.1% in the 2nd quarter. Raymond James & Associates now owns 12,864 shares of the company’s stock worth $3,144,000 after purchasing an additional 2,820 shares in the last quarter. Nisa Investment Advisors LLC boosted its holdings in RH by 16.3% in the second quarter. Nisa Investment Advisors LLC now owns 712 shares of the company’s stock worth $174,000 after acquiring an additional 100 shares in the last quarter. Allspring Global Investments Holdings LLC grew its stake in shares of RH by 24.2% during the second quarter. Allspring Global Investments Holdings LLC now owns 227,247 shares of the company’s stock worth $55,548,000 after acquiring an additional 44,278 shares during the last quarter. Summit Securities Group LLC purchased a new position in shares of RH in the 2nd quarter valued at approximately $196,000. Finally, Klein Pavlis & Peasley Financial Inc. raised its position in shares of RH by 4.9% in the 2nd quarter. Klein Pavlis & Peasley Financial Inc. now owns 4,059 shares of the company’s stock valued at $992,000 after purchasing an additional 189 shares during the last quarter. 90.17% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on RH. Telsey Advisory Group upped their price target on shares of RH from $290.00 to $330.00 and gave the company a “market perform” rating in a research note on Monday, December 9th. Guggenheim upped their target price on RH from $425.00 to $550.00 and gave the company a “buy” rating in a research report on Friday, December 13th. Morgan Stanley lifted their price target on RH from $310.00 to $435.00 and gave the stock an “equal weight” rating in a research report on Friday, December 13th. Bank of America increased their price objective on RH from $310.00 to $359.00 and gave the company a “buy” rating in a report on Friday, September 13th. Finally, TD Cowen upped their target price on RH from $325.00 to $350.00 and gave the company a “buy” rating in a research report on Friday, September 13th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $391.07.

Insider Activity at RH

In related news, insider Edward T. Lee sold 2,000 shares of RH stock in a transaction dated Friday, October 18th. The stock was sold at an average price of $353.57, for a total value of $707,140.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 28.10% of the stock is owned by corporate insiders.

RH Stock Performance

RH opened at $396.39 on Thursday. The company has a fifty day moving average of $352.97 and a two-hundred day moving average of $300.92. RH has a fifty-two week low of $212.43 and a fifty-two week high of $457.26. The stock has a market capitalization of $7.37 billion, a price-to-earnings ratio of 113.91, a PEG ratio of 2.73 and a beta of 2.44.

RH (NYSE:RH) last released its quarterly earnings results on Thursday, December 12th. The company reported $2.48 earnings per share for the quarter, missing analysts’ consensus estimates of $2.67 by ($0.19). The business had revenue of $811.73 million during the quarter, compared to analyst estimates of $812.19 million. RH had a negative return on equity of 32.76% and a net margin of 2.25%. The business’s revenue for the quarter was up 8.1% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.42) EPS. On average, equities research analysts forecast that RH will post 5.63 earnings per share for the current year.

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.