RH (NYSE:RH) Price Target Raised to $350.00

RH (NYSE:RH) had its price target lifted by Wells Fargo & Company from $325.00 to $350.00 in a research note issued to investors on Friday, Benzinga reports. They currently have an overweight rating on the stock.

Several other equities analysts also recently commented on RH. Loop Capital dropped their price target on shares of RH from $350.00 to $230.00 and set a hold rating for the company in a research note on Monday, June 17th. TD Cowen lowered their target price on shares of RH from $350.00 to $325.00 and set a buy rating for the company in a research note on Friday, June 14th. BNP Paribas upgraded shares of RH to a hold rating in a research note on Friday, June 14th. The Goldman Sachs Group lowered their target price on shares of RH from $264.00 to $226.00 and set a sell rating for the company in a research note on Monday, June 17th. Finally, Wedbush boosted their target price on shares of RH from $250.00 to $310.00 and gave the stock a neutral rating in a research note on Friday. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of Hold and an average target price of $322.54.

RH Stock Up 2.5 %

NYSE:RH opened at $329.99 on Friday. The company has a fifty day simple moving average of $265.34 and a two-hundred day simple moving average of $266.73. The company has a market cap of $6.09 billion, a price-to-earnings ratio of 91.41, a price-to-earnings-growth ratio of 1.13 and a beta of 2.42. RH has a 52 week low of $207.26 and a 52 week high of $354.86.

RH (NYSE:RH) last posted its quarterly earnings results on Thursday, September 12th. The company reported $1.69 EPS for the quarter, topping the consensus estimate of $1.56 by $0.13. The business had revenue of $829.66 million during the quarter, compared to the consensus estimate of $824.52 million. RH had a net margin of 1.13% and a negative return on equity of 10.63%. The company’s quarterly revenue was up 3.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.93 earnings per share. On average, analysts expect that RH will post 7.29 EPS for the current year.

Insider Activity

In other RH news, CEO Gary G. Friedman bought 34,200 shares of RH stock in a transaction dated Tuesday, June 25th. The stock was acquired at an average cost of $215.00 per share, with a total value of $7,353,000.00. Following the completion of the acquisition, the chief executive officer now owns 3,339,263 shares of the company’s stock, valued at $717,941,545. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 28.10% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Anomaly Capital Management LP increased its holdings in RH by 503.6% in the second 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 RH in the fourth quarter valued at about $38,736,000. Granahan Investment Management LLC purchased a new position in RH in the fourth quarter valued at about $24,915,000. Marshall Wace LLP increased its holdings in 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 buying an additional 64,423 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD increased its holdings 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 valued at $231,728,000 after buying an additional 62,198 shares in the last quarter. 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.