RH (NYSE:RH) PT Lowered to $310.00 at Bank of America

RH (NYSE:RH) had its target price decreased by Bank of America from $325.00 to $310.00 in a research report sent to investors on Thursday, Benzinga reports. Bank of America currently has a buy rating on the stock.

Several other research analysts have also issued reports on RH. The Goldman Sachs Group dropped their price objective on RH from $264.00 to $226.00 and set a sell rating for the company in a research note on Monday, June 17th. Robert W. Baird lowered their target price on RH from $300.00 to $275.00 and set a neutral rating for the company in a research note on Friday, June 14th. Morgan Stanley lowered their target price on RH from $320.00 to $300.00 and set an equal weight rating for the company in a research note on Monday, June 17th. StockNews.com upgraded RH to a sell rating in a research note on Friday, June 21st. Finally, Wells Fargo & Company lowered their target price on RH from $360.00 to $350.00 and set an overweight rating for the company in a research note on Friday, June 14th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of Hold and an average price target of $307.93.

RH Price Performance

RH stock opened at $248.09 on Thursday. The stock has a fifty day moving average price of $261.51 and a two-hundred day moving average price of $266.20. RH has a 52-week low of $207.26 and a 52-week high of $372.40. The firm has a market capitalization of $4.57 billion, a P/E ratio of 68.72, a P/E/G ratio of 0.99 and a beta of 2.42.

RH (NYSE:RH) last released its quarterly earnings data on Thursday, June 13th. The company reported ($0.40) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.08) by ($0.32). RH had a negative return on equity of 29.15% and a net margin of 2.72%. The company had revenue of $726.96 million for the quarter, compared to analyst estimates of $725.15 million. During the same quarter in the prior year, the company earned $2.21 earnings per share. The business’s revenue was down 1.7% compared to the same quarter last year. On average, equities research analysts predict that RH will post 7.52 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO Gary G. Friedman acquired 34,200 shares of the 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 completion of the transaction, 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 legal filing with the SEC, which is available at the SEC website. Corporate insiders own 28.10% of the company’s stock.

Hedge Funds Weigh In On RH

Several institutional investors have recently modified their holdings of the stock. Sanctuary Advisors LLC acquired a new position in shares of RH during the 2nd quarter worth about $601,000. Creative Planning grew its position in shares of RH by 4.2% during the 2nd quarter. Creative Planning now owns 2,426 shares of the company’s stock worth $593,000 after buying an additional 97 shares during the period. Smith Thornton Advisors LLC acquired a new position in shares of RH during the 2nd quarter worth about $283,000. BlackBarn Capital Partners LP grew its position in shares of RH by 156.8% during the 2nd quarter. BlackBarn Capital Partners LP now owns 43,655 shares of the company’s stock worth $10,671,000 after buying an additional 26,655 shares during the period. Finally, Point72 DIFC Ltd acquired a new position in shares of RH in the 2nd quarter valued at approximately $1,289,000. 90.17% of the stock is currently owned by institutional investors and hedge funds.

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.