RH (NYSE:RH) Reaches New 1-Year High – Here’s What Happened

Shares of RH (NYSE:RH) hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $358.79 and last traded at $357.00, with a volume of 220373 shares trading hands. The stock had previously closed at $348.10.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. JPMorgan Chase & Co. lowered their target price on RH from $345.00 to $338.00 and set an “overweight” rating for the company in a report on Monday, September 16th. Morgan Stanley raised their price objective on RH from $300.00 to $310.00 and gave the company an “equal weight” rating in a research report on Friday, September 13th. TD Cowen lifted their target price on RH from $325.00 to $350.00 and gave the company a “buy” rating in a research note on Friday, September 13th. Barclays decreased their price target on shares of RH from $340.00 to $320.00 and set an “equal weight” rating for the company in a research report on Monday, September 16th. Finally, Bank of America lifted their price objective on shares of RH from $310.00 to $359.00 and gave the stock a “buy” rating in a research report on Friday, September 13th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $322.54.

RH Trading Up 1.8 %

The stock has a market capitalization of $6.54 billion, a price-to-earnings ratio of 208.54, a P/E/G ratio of 1.89 and a beta of 2.43. The firm has a 50-day moving average of $298.81 and a 200-day moving average of $273.99.

RH (NYSE:RH) last announced its quarterly earnings data on Thursday, September 12th. The company reported $1.69 earnings per share for the quarter, beating 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 business had revenue of $829.66 million for the quarter, compared to analyst estimates of $824.52 million. During the same period in the prior year, the company earned $3.93 earnings per share. The company’s revenue was up 3.6% on a year-over-year basis. On average, equities research analysts anticipate that RH will post 5.61 EPS for the current year.

Insider Activity

In other news, insider Edward T. Lee sold 2,000 shares of the business’s stock in a transaction dated Friday, October 18th. The shares were sold at an average price of $353.57, for a total transaction of $707,140.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Stefan Duban sold 4,285 shares of the business’s stock in a transaction dated 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 approximately $27,016.86. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Edward T. Lee sold 2,000 shares of the firm’s stock in a transaction dated Friday, October 18th. The stock was sold at an average price of $353.57, for a total transaction of $707,140.00. The disclosure for this sale can be found here. Insiders have sold 8,285 shares of company stock worth $2,871,935 in the last ninety days. Company insiders own 28.10% of the company’s stock.

Institutional Trading of RH

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

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.