Bank of America Cuts RH (NYSE:RH) Price Target to $410.00

RH (NYSE:RH) had its price target trimmed by Bank of America from $510.00 to $410.00 in a research report sent to investors on Wednesday,Benzinga reports. The brokerage currently has a buy rating on the stock.

Several other equities analysts have also issued reports on RH. The Goldman Sachs Group raised RH from a “sell” rating to a “neutral” rating and increased their target price for the stock from $261.00 to $374.00 in a research note on Thursday, January 30th. Telsey Advisory Group reduced their price target on shares of RH from $500.00 to $420.00 and set an “outperform” rating on the stock in a research report on Monday. Stifel Nicolaus lifted their price objective on shares of RH from $420.00 to $500.00 and gave the company a “buy” rating in a report on Monday, December 16th. Citigroup reduced their target price on shares of RH from $556.00 to $437.00 and set a “buy” rating on the stock in a report on Monday. Finally, Morgan Stanley upgraded shares of RH from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $435.00 to $530.00 in a research note on Monday, January 13th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $403.25.

RH Stock Performance

RH stock opened at $243.83 on Wednesday. The company has a market capitalization of $4.54 billion, a PE ratio of 70.06, a price-to-earnings-growth ratio of 2.65 and a beta of 2.50. RH has a fifty-two week low of $212.04 and a fifty-two week high of $457.26. The firm has a 50 day moving average price of $343.58 and a 200 day moving average price of $351.67.

Insider Transactions at RH

In related news, Director Keith Belling sold 500 shares of RH stock in a transaction on Monday, January 6th. The shares were sold at an average price of $417.85, for a total transaction of $208,925.00. Following the sale, the director now directly owns 4,970 shares in the company, valued at $2,076,714.50. This trade represents a 9.14 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Edward T. Lee sold 600 shares of the company’s stock in a transaction on Friday, January 17th. The shares were sold at an average price of $446.73, for a total transaction of $268,038.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 66,380 shares of company stock worth $28,922,379. 28.10% of the stock is currently owned by insiders.

Institutional Trading of RH

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. UMB Bank n.a. lifted its stake in shares of RH by 125.8% in the 4th quarter. UMB Bank n.a. now owns 70 shares of the company’s stock worth $28,000 after acquiring an additional 39 shares during the period. Versant Capital Management Inc lifted its position in RH by 7,000.0% in the fourth quarter. Versant Capital Management Inc now owns 71 shares of the company’s stock valued at $28,000 after purchasing an additional 70 shares during the period. GAMMA Investing LLC lifted its position in RH by 533.3% in the fourth quarter. GAMMA Investing LLC now owns 76 shares of the company’s stock valued at $30,000 after purchasing an additional 64 shares during the period. Sunbelt Securities Inc. increased its position in RH by 690.0% during the 4th quarter. Sunbelt Securities Inc. now owns 79 shares of the company’s stock worth $31,000 after purchasing an additional 69 shares during the period. Finally, Rakuten Securities Inc. raised its stake in shares of RH by 180.0% during the 4th quarter. Rakuten Securities Inc. now owns 112 shares of the company’s stock worth $44,000 after buying an additional 72 shares in the last quarter. 90.17% of the stock is owned by hedge funds and other 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.