RH (NYSE:RH) PT Raised to $350.00 at Wells Fargo & Company

RH (NYSE:RH) had its target price increased by equities research analysts at Wells Fargo & Company from $325.00 to $350.00 in a research report issued on Friday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Wells Fargo & Company‘s target price indicates a potential upside of 8.74% from the company’s previous close.

Other equities analysts have also recently issued research reports about the company. Stifel Nicolaus began coverage on RH in a report on Tuesday, July 9th. They set a “buy” rating and a $315.00 price target for the company. Wedbush increased their price target on shares of RH from $250.00 to $310.00 and gave the company a “neutral” rating in a report on Friday. BNP Paribas upgraded RH to a “hold” rating in a report on Friday, June 14th. Morgan Stanley boosted their price objective on shares of RH from $300.00 to $310.00 and gave the company an “equal weight” rating in a research report on Friday. Finally, Telsey Advisory Group reissued a “market perform” rating and issued a $290.00 target price on shares of RH in a research note on Tuesday, September 10th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, RH currently has a consensus rating of “Hold” and a consensus target price of $313.08.

RH Price Performance

RH opened at $321.87 on Friday. The company has a 50 day simple moving average of $263.59 and a two-hundred day simple moving average of $266.32. The firm has a market cap of $5.94 billion, a P/E ratio of 89.16, a PEG ratio of 1.08 and a beta of 2.42. RH has a 1-year low of $207.26 and a 1-year high of $354.86.

RH (NYSE:RH) last issued its quarterly earnings results on Thursday, September 12th. The company reported $1.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.56 by $0.13. RH had a negative return on equity of 29.15% and a net margin of 2.72%. The business had revenue of $829.66 million during the quarter, compared to analyst estimates of $824.52 million. During the same quarter in the prior year, the business posted $3.93 EPS. RH’s revenue for the quarter was up 3.6% compared to the same quarter last year. Equities analysts anticipate that RH will post 7.29 earnings per share for the current year.

Insider Activity at RH

In related news, CEO Gary G. Friedman purchased 34,200 shares of the firm’s stock in a transaction on Tuesday, June 25th. The stock was bought 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 approximately $717,941,545. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 28.10% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of RH. Anomaly Capital Management LP raised its holdings in shares of RH by 503.6% during the 2nd quarter. Anomaly Capital Management LP now owns 349,227 shares of the company’s stock worth $85,365,000 after acquiring an additional 291,368 shares during the period. Norges Bank purchased a new stake in shares of RH during the 4th quarter valued at approximately $38,736,000. Granahan Investment Management LLC acquired a new position in RH in the fourth quarter valued at approximately $24,915,000. Marshall Wace LLP grew its position in RH by 58.6% in the second quarter. Marshall Wace LLP now owns 174,324 shares of the company’s stock worth $42,612,000 after acquiring an additional 64,423 shares during the period. Finally, Price T Rowe Associates Inc. MD increased its stake in RH by 10.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 665,383 shares of the company’s stock worth $231,728,000 after acquiring an additional 62,198 shares during the last quarter. 90.17% of the stock is owned by hedge funds and other institutional investors.

About RH

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.