Wedbush Issues Pessimistic Forecast for RH (NYSE:RH) Stock Price

RH (NYSE:RH) had its price target dropped by Wedbush from $500.00 to $350.00 in a report released on Wednesday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Wedbush’s price target would indicate a potential upside of 43.55% from the stock’s current price.

Several other research firms have also issued reports on RH. Wells Fargo & Company lowered their price target on shares of RH from $500.00 to $375.00 and set an “overweight” rating for the company in a report on Tuesday, March 18th. UBS Group dropped their price objective on RH from $440.00 to $250.00 and set a “neutral” rating on the stock in a research note on Friday, March 21st. Morgan Stanley raised RH from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $435.00 to $530.00 in a research note on Monday, January 13th. Telsey Advisory Group reduced their price objective on shares of RH from $500.00 to $420.00 and set an “outperform” rating for the company in a research report on Monday. Finally, The Goldman Sachs Group upgraded shares of RH from a “sell” rating to a “neutral” rating and boosted their target price for the company from $261.00 to $374.00 in a research report on Thursday, January 30th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $403.25.

RH Stock Performance

Shares of RH stock traded down $9.09 on Wednesday, hitting $243.82. The company had a trading volume of 87,348 shares, compared to its average volume of 729,652. RH has a twelve month low of $212.04 and a twelve month high of $457.26. The firm has a market cap of $4.54 billion, a P/E ratio of 70.04, a P/E/G ratio of 2.65 and a beta of 2.50. The stock’s 50-day moving average is $347.25 and its two-hundred day moving average is $352.43.

Insider Buying and Selling at RH

In other RH news, Director Keith Belling sold 500 shares of the business’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $417.85, for a total value of $208,925.00. Following the transaction, the director now owns 4,970 shares of the company’s stock, valued at approximately $2,076,714.50. The trade was a 9.14 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Christina Hargarten sold 5,280 shares of the firm’s stock in a transaction on Friday, January 17th. The shares were sold at an average price of $447.20, for a total value of $2,361,216.00. Following the sale, the chief accounting officer now directly owns 484 shares of the company’s stock, valued at approximately $216,444.80. This represents a 91.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 66,380 shares of company stock worth $28,922,379. Corporate insiders own 28.10% of the company’s stock.

Hedge Funds Weigh In On RH

A number of hedge funds and other institutional investors have recently made changes to their positions in RH. PNC Financial Services Group Inc. raised its position in RH by 0.8% in the fourth quarter. PNC Financial Services Group Inc. now owns 3,872 shares of the company’s stock worth $1,524,000 after acquiring an additional 29 shares during the period. Steward Partners Investment Advisory LLC increased its stake in shares of RH by 6.0% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 549 shares of the company’s stock worth $216,000 after purchasing an additional 31 shares during the last quarter. Insight Advisors LLC PA raised its holdings in shares of RH by 2.3% in the 4th quarter. Insight Advisors LLC PA now owns 1,449 shares of the company’s stock worth $571,000 after purchasing an additional 33 shares during the period. US Bancorp DE lifted its stake in RH by 14.6% in the fourth quarter. US Bancorp DE now owns 283 shares of the company’s stock valued at $111,000 after purchasing an additional 36 shares during the last quarter. Finally, UMB Bank n.a. grew its holdings in RH by 125.8% during the fourth quarter. UMB Bank n.a. now owns 70 shares of the company’s stock valued at $28,000 after purchasing an additional 39 shares during the period. 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.