Richelieu Hardware (TSE:RCH) Shares Cross Below Two Hundred Day Moving Average of $42.65

Richelieu Hardware Ltd. (TSE:RCHGet Rating) passed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of C$42.65 and traded as low as C$36.56. Richelieu Hardware shares last traded at C$37.19, with a volume of 50,693 shares changing hands.

A number of research firms have issued reports on RCH. CIBC raised Richelieu Hardware from a “neutral” rating to a “buy” rating and set a C$47.00 target price on the stock in a report on Thursday, May 26th. TD Securities cut their target price on Richelieu Hardware from C$52.00 to C$48.00 and set a “hold” rating for the company in a research report on Friday, April 8th. Finally, National Bankshares lifted their price objective on Richelieu Hardware from C$53.50 to C$54.50 and gave the company an “outperform” rating in a research report on Friday, April 8th.

The stock has a market capitalization of C$2.09 billion and a price-to-earnings ratio of 13.93. The business has a 50 day simple moving average of C$36.62 and a 200-day simple moving average of C$42.65. The company has a debt-to-equity ratio of 21.23, a current ratio of 2.90 and a quick ratio of 0.89.

Richelieu Hardware (TSE:RCHGet Rating) last released its earnings results on Thursday, April 7th. The company reported C$0.53 earnings per share (EPS) for the quarter, missing the consensus estimate of C$0.63 by C($0.10). The company had revenue of C$384.47 million during the quarter, compared to analyst estimates of C$400.40 million. As a group, equities analysts predict that Richelieu Hardware Ltd. will post 2.3900001 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Thursday, May 5th. Stockholders of record on Thursday, May 5th were given a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 1.40%. The ex-dividend date was Wednesday, April 20th. Richelieu Hardware’s payout ratio is 10.12%.

In related news, Director Richard Lord bought 2,850 shares of the stock in a transaction that occurred on Tuesday, May 24th. The stock was acquired at an average cost of C$35.00 per share, with a total value of C$99,744.87. Following the transaction, the director now directly owns 4,222,942 shares in the company, valued at C$147,795,368.70. Also, Director Marc Poulin purchased 1,400 shares of the firm’s stock in a transaction on Thursday, May 5th. The shares were acquired at an average price of C$34.98 per share, with a total value of C$48,972.00. Following the completion of the acquisition, the director now owns 9,400 shares in the company, valued at approximately C$328,812. Insiders have purchased 7,350 shares of company stock worth $262,981 in the last three months.

About Richelieu Hardware (TSE:RCH)

Richelieu Hardware Ltd. manufactures, imports, and distributes specialty hardware and complementary products in North America. The company's principal product categories include furniture, glass and building decorative and functional hardware, lighting systems, finishing and decorating products, ergonomic workstation components, kitchen and closet storage solutions, sliding door systems, decorative and functional panels, high-pressure laminates, and floor protection products.

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