Wells Fargo & Company Forecasts Strong Price Appreciation for RH (NYSE:RH) Stock

RH (NYSE:RH) had its price objective raised by Wells Fargo & Company from $425.00 to $500.00 in a research report sent to investors on Friday morning,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the stock.

RH has been the topic of several other research reports. BNP Paribas reiterated an “underperform” rating and issued a $253.00 price target on shares of RH in a research note on Wednesday, November 13th. Loop Capital upped their target price on RH from $230.00 to $320.00 and gave the company a “hold” rating in a research report on Monday, September 16th. Morgan Stanley raised their price target on shares of RH from $310.00 to $435.00 and gave the stock an “equal weight” rating in a research report on Friday. StockNews.com raised shares of RH to a “sell” rating in a report on Thursday, September 19th. Finally, Citigroup increased their price objective on shares of RH from $340.00 to $355.00 and gave the company a “buy” rating in a research note on Friday, September 13th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, RH has a consensus rating of “Hold” and a consensus price target of $377.07.

RH Stock Up 17.0 %

NYSE RH opened at $446.04 on Friday. The stock has a market cap of $8.22 billion, a PE ratio of 128.17, a P/E/G ratio of 2.73 and a beta of 2.44. The business has a 50 day moving average price of $347.81 and a two-hundred day moving average price of $297.88. RH has a fifty-two week low of $212.43 and a fifty-two week high of $457.26.

RH (NYSE:RH) last released its quarterly earnings results on Thursday, December 12th. The company reported $2.48 earnings per share for the quarter, missing analysts’ consensus estimates of $2.67 by ($0.19). RH had a net margin of 2.25% and a negative return on equity of 32.76%. The firm had revenue of $811.73 million for the quarter, compared to analyst estimates of $812.19 million. During the same period in the previous year, the business posted ($0.42) earnings per share. RH’s revenue for the quarter was up 8.1% on a year-over-year basis. Sell-side analysts anticipate that RH will post 5.63 EPS for the current fiscal year.

Insider Activity at RH

In other news, Director Mark S. Demilio sold 2,000 shares of the company’s stock in a transaction dated 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 owns 10,914 shares in the company, valued at approximately $3,714,034.20. This represents a 15.49 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Stefan Duban sold 4,285 shares of the stock in a transaction dated 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 completion of the sale, the insider now directly owns 78 shares in the company, valued at approximately $27,016.86. This trade represents a 98.21 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 8,285 shares of company stock valued at $2,871,935 in the last quarter. Insiders own 28.10% of the company’s stock.

Institutional Investors Weigh In On RH

Hedge funds and other institutional investors have recently modified their holdings of the stock. Blue Trust Inc. raised its holdings in shares of RH by 308.3% in the 3rd quarter. Blue Trust Inc. now owns 98 shares of the company’s stock worth $33,000 after purchasing an additional 74 shares in the last quarter. Ridgewood Investments LLC acquired a new position in RH in the second quarter worth approximately $62,000. Centaurus Financial Inc. bought a new position in shares of RH in the third quarter valued at $100,000. Ameliora Wealth Management Ltd. bought a new position in shares of RH in the third quarter valued at $110,000. Finally, Quarry LP acquired a new stake in shares of RH during the 3rd quarter valued at $141,000. 90.17% of the stock is currently owned by 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.