RH (NYSE:RH) Shares Gap Up on Analyst Upgrade

RH (NYSE:RH)’s share price gapped up prior to trading on Thursday after Wells Fargo & Company raised their price target on the stock from $350.00 to $360.00. The stock had previously closed at $296.99, but opened at $330.54. Wells Fargo & Company currently has an overweight rating on the stock. RH shares last traded at $337.20, with a volume of 977,184 shares changing hands.

A number of other research firms have also weighed in on RH. JPMorgan Chase & Co. lifted their price objective on shares of RH from $329.00 to $345.00 and gave the company an “overweight” rating in a research note on Thursday. Morgan Stanley cut their price target on shares of RH from $340.00 to $290.00 and set an “equal weight” rating for the company in a report on Friday, December 8th. Telsey Advisory Group reissued a “market perform” rating and issued a $335.00 price target (up from $285.00) on shares of RH in a report on Tuesday. TD Cowen cut their price target on shares of RH from $350.00 to $325.00 and set an “outperform” rating for the company in a report on Friday, December 8th. Finally, StockNews.com downgraded shares of RH from a “hold” rating to a “sell” rating in a report on Wednesday, December 13th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $322.07.

Insider Transactions at RH

In other RH news, insider Edward T. Lee sold 2,624 shares of the business’s stock in a transaction on Thursday, January 4th. The shares were sold at an average price of $264.50, for a total value of $694,048.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 23.90% of the stock is currently owned by insiders.

Institutional Trading of RH

Hedge funds have recently added to or reduced their stakes in the business. Cetera Advisors LLC increased its position in shares of RH by 2.4% in the fourth quarter. Cetera Advisors LLC now owns 1,350 shares of the company’s stock valued at $361,000 after acquiring an additional 32 shares during the period. PNC Financial Services Group Inc. increased its position in shares of RH by 0.9% during the second quarter. PNC Financial Services Group Inc. now owns 4,964 shares of the company’s stock valued at $1,636,000 after buying an additional 42 shares during the period. Tradition Wealth Management LLC increased its position in shares of RH by 14.8% during the fourth quarter. Tradition Wealth Management LLC now owns 350 shares of the company’s stock valued at $102,000 after buying an additional 45 shares during the period. KB Financial Partners LLC increased its position in shares of RH by 61.6% during the first quarter. KB Financial Partners LLC now owns 118 shares of the company’s stock valued at $38,000 after buying an additional 45 shares during the period. Finally, Cambridge Investment Research Advisors Inc. increased its position in shares of RH by 2.2% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 2,609 shares of the company’s stock valued at $851,000 after buying an additional 56 shares during the period. 90.17% of the stock is owned by institutional investors.

RH Stock Up 17.2 %

The firm’s 50-day moving average is $273.49 and its 200-day moving average is $268.20. The company has a market cap of $6.40 billion, a PE ratio of 37.78, a PEG ratio of 2.85 and a beta of 2.43.

RH (NYSE:RH) last announced its quarterly earnings results on Wednesday, March 27th. The company reported $0.72 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.71 by ($0.99). RH had a net margin of 7.28% and a return on equity of 81.84%. The company had revenue of $738.26 million for the quarter, compared to analysts’ expectations of $777.50 million. During the same quarter in the prior year, the firm earned $2.88 EPS. RH’s quarterly revenue was down 4.4% compared to the same quarter last year. As a group, equities research analysts anticipate that RH will post 7.83 EPS for the current fiscal year.

RH Company Profile

RH, together with its subsidiaries, operates as a retailer in the home furnishings and operates under RH Galleries and RH brand names in the District of Columbia and Canada, as well as Waterworks showrooms throughout the United States and the United Kingdom. It offers products in various categories, including furniture, lighting, textiles, bathware, décor, outdoor and garden, and child and teen furnishings.