Wedbush Reaffirms Outperform Rating for RH (NYSE:RH)

RH (NYSE:RH)‘s stock had its “outperform” rating reissued by stock analysts at Wedbush in a research report issued on Monday,RTT News reports. They currently have a $500.00 price objective on the stock. Wedbush’s price objective points to a potential upside of 23.93% from the stock’s current price.

A number of other research firms have also commented on RH. Loop Capital raised their price target on RH from $320.00 to $450.00 and gave the stock a “hold” rating in a report on Monday, December 16th. TD Cowen raised their target price on RH from $325.00 to $350.00 and gave the stock a “buy” rating in a research note on Friday, September 13th. Guggenheim upped their price target on RH from $425.00 to $550.00 and gave the company a “buy” rating in a research report on Friday, December 13th. Telsey Advisory Group upgraded shares of RH from a “market perform” rating to an “outperform” rating and raised their price objective for the company from $485.00 to $500.00 in a research report on Thursday, December 19th. Finally, BNP Paribas reaffirmed an “underperform” rating and set a $253.00 target price on shares of RH in a report on Wednesday, November 13th. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, RH has an average rating of “Hold” and an average target price of $402.40.

RH Trading Down 2.8 %

RH stock opened at $403.44 on Monday. The business’s 50 day simple moving average is $370.35 and its 200 day simple moving average is $314.41. RH has a 12 month low of $212.43 and a 12 month high of $457.26. The company has a market cap of $7.51 billion, a price-to-earnings ratio of 115.93, a PEG ratio of 2.73 and a beta of 2.43.

RH (NYSE:RH) last issued its quarterly earnings results on Thursday, December 12th. The company reported $2.48 EPS for the quarter, missing analysts’ consensus estimates of $2.67 by ($0.19). RH had a net margin of 2.25% and a negative return on equity of 32.76%. The firm had revenue of $811.73 million for the quarter, compared to analysts’ expectations of $812.19 million. During the same period in the prior year, the company earned ($0.42) EPS. The firm’s quarterly revenue was up 8.1% on a year-over-year basis. As a group, equities research analysts forecast that RH will post 5.63 earnings per share for the current fiscal year.

Insider Activity at RH

In other news, insider Eri Chaya sold 10,000 shares of the stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $416.27, for a total transaction of $4,162,700.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Keith Belling sold 500 shares of RH stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $415.00, for a total transaction of $207,500.00. Following the completion of the sale, the director now owns 5,470 shares in the company, valued at approximately $2,270,050. This trade represents a 8.38 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 13,000 shares of company stock valued at $5,286,265. Corporate insiders own 28.10% of the company’s stock.

Institutional Investors Weigh In On RH

Hedge funds have recently added to or reduced their stakes in the stock. Commonwealth Equity Services LLC increased its holdings in shares of RH by 187.8% in the 2nd quarter. Commonwealth Equity Services LLC now owns 2,438 shares of the company’s stock worth $596,000 after purchasing an additional 1,591 shares in the last quarter. National Bank of Canada FI increased its holdings in RH by 10.5% in the 2nd quarter. National Bank of Canada FI now owns 18,060 shares of the company’s stock worth $4,302,000 after buying an additional 1,719 shares in the last quarter. Victory Capital Management Inc. raised its position in RH by 77.0% in the 2nd quarter. Victory Capital Management Inc. now owns 128,711 shares of the company’s stock worth $31,462,000 after buying an additional 55,999 shares during the last quarter. Arizona State Retirement System lifted its stake in RH by 2.4% during the 2nd quarter. Arizona State Retirement System now owns 4,101 shares of the company’s stock valued at $1,002,000 after acquiring an additional 95 shares during the period. Finally, X Square Capital LLC boosted its holdings in shares of RH by 91.1% during the 2nd quarter. X Square Capital LLC now owns 13,776 shares of the company’s stock valued at $3,367,000 after acquiring an additional 6,566 shares during the last quarter. 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.