RH (NYSE:RH) Sets New 52-Week High – Still a Buy?

RH (NYSE:RH)’s stock price hit a new 52-week high on Friday . The company traded as high as $367.24 and last traded at $366.00, with a volume of 382789 shares changing hands. The stock had previously closed at $344.73.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. Citigroup raised their target price on shares of RH from $340.00 to $355.00 and gave the stock a “buy” rating in a report on Friday, September 13th. TD Cowen boosted their price objective on RH from $325.00 to $350.00 and gave the company a “buy” rating in a research report on Friday, September 13th. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $290.00 target price on shares of RH in a research report on Tuesday, September 10th. Stifel Nicolaus raised their target price on RH from $315.00 to $375.00 and gave the company a “buy” rating in a research note on Monday, September 16th. Finally, Robert W. Baird upped their price target on shares of RH from $275.00 to $290.00 and gave the stock a “neutral” rating in a research report on Friday, September 13th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $326.14.

RH Price Performance

The firm has a market capitalization of $6.79 billion, a P/E ratio of 216.48, a PEG ratio of 1.95 and a beta of 2.43. The firm’s fifty day moving average price is $332.62 and its 200-day moving average price is $285.96.

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, 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 firm had revenue of $829.66 million during the quarter, compared to analyst estimates of $824.52 million. During the same period last year, the company posted $3.93 EPS. The firm’s quarterly revenue was up 3.6% on a year-over-year basis. Analysts expect that RH will post 5.66 earnings per share for the current year.

Insiders Place Their Bets

In other RH news, insider Edward T. Lee sold 2,000 shares of RH stock in a transaction that occurred on Friday, October 18th. The shares were sold at an average price of $353.57, for a total value of $707,140.00. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Stefan Duban sold 4,285 shares of the stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $346.37, for a total value of $1,484,195.45. Following the sale, the insider now owns 78 shares of the company’s stock, valued at $27,016.86. This trade represents a 98.21 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 8,285 shares of company stock worth $2,871,935. 28.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On RH

A number of hedge funds and other institutional investors have recently modified their holdings of RH. Anomaly Capital Management LP lifted its stake in RH by 503.6% during the second quarter. Anomaly Capital Management LP now owns 349,227 shares of the company’s stock valued at $85,365,000 after buying an additional 291,368 shares in the last quarter. Two Sigma Advisers LP lifted its position in shares of RH by 141.5% in the 3rd quarter. Two Sigma Advisers LP now owns 159,600 shares of the company’s stock valued at $53,375,000 after acquiring an additional 93,500 shares in the last quarter. Marshall Wace LLP boosted its stake in RH by 58.6% in the 2nd quarter. Marshall Wace LLP now owns 174,324 shares of the company’s stock worth $42,612,000 after purchasing an additional 64,423 shares during the period. Price T Rowe Associates Inc. MD grew its position in RH by 10.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 665,383 shares of the company’s stock worth $231,728,000 after purchasing an additional 62,198 shares in the last quarter. Finally, Victory Capital Management Inc. raised its stake in RH by 77.0% during the 2nd quarter. Victory Capital Management Inc. now owns 128,711 shares of the company’s stock valued at $31,462,000 after purchasing an additional 55,999 shares during the period. Institutional investors and hedge funds own 90.17% of the company’s stock.

RH Company Profile

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.