RH (NYSE:RH) Posts Earnings Results

RH (NYSE:RHGet Rating) posted its quarterly earnings results on Thursday. The company reported $8.08 EPS for the quarter, beating the consensus estimate of $6.82 by $1.26, Briefing.com reports. RH had a return on equity of 68.37% and a net margin of 16.95%. The firm had revenue of $991.62 million during the quarter, compared to analysts’ expectations of $969.20 million. During the same quarter last year, the firm earned $8.48 earnings per share. The business’s revenue for the quarter was up .3% on a year-over-year basis. RH updated its Q3 2022 guidance to EPS and its FY 2022 guidance to EPS.

RH Stock Up 4.5 %

RH stock traded up $11.85 during midday trading on Friday, reaching $273.56. The company’s stock had a trading volume of 1,813,784 shares, compared to its average volume of 582,207. RH has a fifty-two week low of $207.37 and a fifty-two week high of $733.10. The company has a quick ratio of 1.90, a current ratio of 2.50 and a debt-to-equity ratio of 1.97. The company has a market cap of $6.75 billion, a P/E ratio of 9.66, a P/E/G ratio of 1.23 and a beta of 2.31. The business has a 50-day simple moving average of $273.88 and a 200-day simple moving average of $300.97.

Analysts Set New Price Targets

Several equities research analysts recently commented on RH shares. Jefferies Financial Group cut their price target on RH from $400.00 to $375.00 and set a “buy” rating for the company in a report on Friday. JPMorgan Chase & Co. cut their target price on RH from $400.00 to $300.00 and set an “overweight” rating for the company in a research note on Thursday, June 30th. Cowen cut their target price on RH from $450.00 to $300.00 and set an “outperform” rating for the company in a research note on Thursday, June 30th. Barclays cut their target price on RH from $400.00 to $300.00 and set an “overweight” rating for the company in a research note on Thursday, June 30th. Finally, Wedbush cut their target price on RH from $315.00 to $274.00 and set an “outperform” rating for the company in a research note on Thursday, June 30th. Six research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $353.44.

Insider Buying and Selling at RH

In other news, Director Mark S. Demilio sold 1,224 shares of RH stock in a transaction dated Friday, July 15th. The stock was sold at an average price of $261.47, for a total transaction of $320,039.28. Following the sale, the director now owns 6,915 shares in the company, valued at $1,808,065.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Eri Chaya sold 6,302 shares of RH stock in a transaction dated Monday, July 11th. The stock was sold at an average price of $257.45, for a total transaction of $1,622,449.90. Following the sale, the insider now owns 67,341 shares in the company, valued at $17,336,940.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Mark S. Demilio sold 1,224 shares of RH stock in a transaction dated Friday, July 15th. The stock was sold at an average price of $261.47, for a total value of $320,039.28. Following the sale, the director now owns 6,915 shares in the company, valued at approximately $1,808,065.05. The disclosure for this sale can be found here. Insiders have sold a total of 14,678 shares of company stock worth $4,095,954 over the last ninety days. Corporate insiders own 23.40% of the company’s stock.

Hedge Funds Weigh In On RH

Institutional investors have recently added to or reduced their stakes in the stock. Douglass Winthrop Advisors LLC acquired a new position in RH in the 1st quarter valued at about $652,000. Atria Wealth Solutions Inc. purchased a new stake in RH in the 1st quarter valued at approximately $523,000. Easterly Investment Partners LLC purchased a new stake in RH in the 1st quarter valued at approximately $505,000. Prudential Financial Inc. boosted its holdings in RH by 43.4% in the 2nd quarter. Prudential Financial Inc. now owns 1,650 shares of the company’s stock valued at $492,000 after purchasing an additional 499 shares in the last quarter. Finally, Canada Pension Plan Investment Board purchased a new stake in RH in the 1st quarter valued at approximately $359,000. Institutional investors and hedge funds own 83.19% of the company’s stock.

RH Company Profile

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RH, together with its subsidiaries, operates as a retailer in the home furnishings. It offers products in various categories, including furniture, lighting, textiles, bathware, décor, outdoor and garden, and child and teen furnishings. The company provides its products through its retail galleries; and Source Books, a series of catalogs, as well as online through rh.com, rhbabyandchild.com, rhteen.com, and rhmodern.com, as well as waterworks.com.

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Earnings History for RH (NYSE:RH)

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