Richelieu Hardware (TSE:RCH) Given New C$40.00 Price Target at CIBC

Richelieu Hardware (TSE:RCH) had its price objective raised by equities researchers at CIBC from C$37.00 to C$40.00 in a research report issued on Monday,BayStreet.CA reports. CIBC’s price objective indicates a potential downside of 6.85% from the company’s previous close.

Separately, National Bankshares boosted their target price on shares of Richelieu Hardware from C$35.00 to C$40.50 and gave the company a “sector perform” rating in a research report on Tuesday, October 28th. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of C$40.25.

Richelieu Hardware Price Performance

Richelieu Hardware stock traded up C$0.13 during mid-day trading on Monday, reaching C$42.94. 40,392 shares of the company were exchanged, compared to its average volume of 110,481. The firm has a market cap of C$2.37 billion, a PE ratio of 28.25, a PEG ratio of 0.77 and a beta of 0.79. The company has a debt-to-equity ratio of 26.37, a current ratio of 3.46 and a quick ratio of 0.72. The company has a fifty day simple moving average of C$39.27 and a 200-day simple moving average of C$37.09. Richelieu Hardware has a 12 month low of C$31.81 and a 12 month high of C$43.79.

Richelieu Hardware (TSE:RCH) last released its earnings results on Thursday, October 9th. The company reported C$0.43 earnings per share for the quarter. Richelieu Hardware had a return on equity of 9.84% and a net margin of 4.97%.The firm had revenue of C$499.20 million during the quarter.

Insider Buying and Selling

In other Richelieu Hardware news, insider Guy Grenier sold 7,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 23rd. The shares were sold at an average price of C$36.73, for a total value of C$257,110.00. Following the sale, the insider owned 50,289 shares in the company, valued at C$1,847,114.97. This trade represents a 12.22% decrease in their ownership of the stock. 7.62% of the stock is currently owned by insiders.

About Richelieu Hardware

Richelieu Hardware Ltd is a Canada-based company that imports, manufactures, and distributes specialty hardware and complementary products. Headquartered in Montreal, the company operates across Canada and the eastern and midwestern regions of the United States. The majority of the company’s sales are derived from its operations in Canada. Richelieu’s products include furniture, glass, decorative, window, and door hardware, lighting systems, and kitchen and closet storage. The firm primarily serves home furnishing manufacturers, residential and commercial woodworkers, hardware retailers, and renovation superstores.