RH (NYSE:RH) Given New $310.00 Price Target at Wedbush

RH (NYSE:RH) had its price target increased by Wedbush from $250.00 to $310.00 in a report issued on Friday, Benzinga reports. Wedbush currently has a neutral rating on the stock.

Other equities analysts have also recently issued research reports about the stock. Robert W. Baird upped their target price on shares of RH from $275.00 to $290.00 and gave the company a neutral rating in a research note on Friday. The Goldman Sachs Group dropped their target price on shares of RH from $264.00 to $226.00 and set a sell rating on the stock in a report on Monday, June 17th. Stifel Nicolaus assumed coverage on shares of RH in a research report on Tuesday, July 9th. They issued a buy rating and a $315.00 target price for the company. TD Cowen lowered their price target on RH from $350.00 to $325.00 and set a buy rating on the stock in a report on Friday, June 14th. Finally, StockNews.com raised RH to a sell rating in a report on Friday, June 21st. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of Hold and an average price target of $313.08.

RH Stock Performance

RH stock opened at $321.87 on Friday. The firm has a 50 day moving average price of $263.59 and a 200-day moving average price of $266.32. RH has a 52-week low of $207.26 and a 52-week high of $354.86. The firm has a market capitalization of $5.94 billion, a price-to-earnings ratio of 89.16, a PEG ratio of 1.08 and a beta of 2.42.

RH (NYSE:RH) last posted its quarterly earnings results on Thursday, September 12th. The company reported $1.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.56 by $0.13. RH had a negative return on equity of 29.15% and a net margin of 2.72%. The firm had revenue of $829.66 million during the quarter, compared to analyst estimates of $824.52 million. During the same quarter in the previous year, the firm earned $3.93 EPS. RH’s quarterly revenue was up 3.6% compared to the same quarter last year. As a group, sell-side analysts forecast that RH will post 7.29 earnings per share for the current fiscal year.

Insider Buying and Selling

In other RH news, CEO Gary G. Friedman purchased 34,200 shares of the stock in a transaction that occurred on Tuesday, June 25th. The stock was purchased at an average price of $215.00 per share, with a total value of $7,353,000.00. Following the acquisition, 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 can be accessed through this link. 28.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of RH. Anomaly Capital Management LP lifted its holdings in RH by 503.6% during the 2nd quarter. Anomaly Capital Management LP now owns 349,227 shares of the company’s stock valued at $85,365,000 after buying an additional 291,368 shares in the last quarter. Norges Bank purchased a new position in shares of RH during the fourth quarter worth approximately $38,736,000. Granahan Investment Management LLC bought a new stake in shares of RH during the fourth quarter valued at approximately $24,915,000. Marshall Wace LLP boosted its holdings in shares of RH by 58.6% in the second quarter. Marshall Wace LLP now owns 174,324 shares of the company’s stock valued at $42,612,000 after purchasing an additional 64,423 shares during the period. Finally, Price T Rowe Associates Inc. MD grew its stake in RH by 10.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 665,383 shares of the company’s stock worth $231,728,000 after purchasing 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.