Wedbush Upgrades RH (NYSE:RH) to Outperform

Wedbush upgraded shares of RH (NYSE:RH) from a neutral rating to an outperform rating in a research report sent to investors on Monday morning, MarketBeat.com reports. The firm currently has $430.00 target price on the stock, up from their previous target price of $310.00.

A number of other research firms also recently weighed in on RH. JPMorgan Chase & Co. lowered their price target on RH from $345.00 to $338.00 and set an “overweight” rating on the stock in a research report on Monday, September 16th. Citigroup raised their price objective on RH from $340.00 to $355.00 and gave the company a “buy” rating in a research note on Friday, September 13th. TD Cowen raised their target price on RH from $325.00 to $350.00 and gave the stock a “buy” rating in a research note on Friday, September 13th. Robert W. Baird raised their target price on RH from $275.00 to $290.00 and gave the stock a “neutral” rating in a research note on Friday, September 13th. Finally, Barclays cut their target price on RH from $340.00 to $320.00 and set an “equal weight” rating on the stock in a research note on Monday, September 16th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $331.77.

RH Price Performance

NYSE:RH opened at $346.80 on Monday. The company has a market cap of $6.39 billion, a P/E ratio of 204.00, a P/E/G ratio of 2.02 and a beta of 2.43. The stock’s fifty day moving average price is $300.84 and its two-hundred day moving average price is $274.27. RH has a 1 year low of $207.26 and a 1 year high of $367.00.

RH (NYSE:RH) last issued its quarterly earnings data 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 11.29% and a net margin of 1.13%. The company had revenue of $829.66 million for the quarter, compared to the consensus estimate of $824.52 million. During the same quarter last year, the business posted $3.93 earnings per share. The firm’s revenue was up 3.6% compared to the same quarter last year. On average, analysts expect that RH will post 5.61 earnings per share for the current fiscal year.

Insider Buying and Selling at RH

In other RH news, insider Stefan Duban sold 4,285 shares of RH stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $346.37, for a total transaction of $1,484,195.45. Following the sale, the insider now directly owns 78 shares of the company’s stock, valued at approximately $27,016.86. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, Director Mark S. Demilio sold 2,000 shares of RH stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $340.30, for a total transaction of $680,600.00. Following the completion of the transaction, the director now directly owns 10,914 shares in the company, valued at approximately $3,714,034.20. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Stefan Duban sold 4,285 shares of RH stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $346.37, for a total transaction of $1,484,195.45. Following the transaction, the insider now owns 78 shares of the company’s stock, valued at $27,016.86. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 8,285 shares of company stock valued at $2,871,935. 28.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On RH

Large investors have recently made changes to their positions in the business. Blue Trust Inc. lifted its holdings in shares of RH by 308.3% during the third quarter. Blue Trust Inc. now owns 98 shares of the company’s stock valued at $33,000 after purchasing an additional 74 shares during the last quarter. Hollencrest Capital Management purchased a new position in RH in the 1st quarter worth approximately $47,000. Ridgewood Investments LLC purchased a new position in RH in the 2nd quarter worth approximately $62,000. Ameliora Wealth Management Ltd. purchased a new position in RH in the 3rd quarter worth approximately $110,000. Finally, CWM LLC raised its holdings in RH by 47.2% in the 3rd quarter. CWM LLC now owns 468 shares of the company’s stock worth $157,000 after acquiring an additional 150 shares during the last quarter. 90.17% of the stock is currently 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.