Wedbush Cuts RH (NYSE:RH) Price Target to $350.00

RH (NYSE:RH) had its price target cut by Wedbush from $500.00 to $350.00 in a research report released on Wednesday, MarketBeat.com reports. They currently have an outperform rating on the stock.

A number of other analysts have also commented on RH. Loop Capital boosted their price target on shares of RH from $320.00 to $450.00 and gave the company a “hold” rating in a research note on Monday, December 16th. The Goldman Sachs Group upgraded RH from a “sell” rating to a “neutral” rating and lifted their price target for the company from $261.00 to $374.00 in a research note on Thursday, January 30th. Citigroup dropped their target price on RH from $556.00 to $437.00 and set a “buy” rating on the stock in a report on Monday, March 24th. Wells Fargo & Company lowered their price target on RH from $500.00 to $375.00 and set an “overweight” rating for the company in a research report on Tuesday, March 18th. Finally, UBS Group cut their price objective on shares of RH from $440.00 to $250.00 and set a “neutral” rating on the stock in a report on Friday, March 21st. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, RH has a consensus rating of “Moderate Buy” and an average target price of $403.25.

RH Stock Down 2.9 %

Shares of NYSE RH opened at $236.26 on Wednesday. The company has a market capitalization of $4.40 billion, a PE ratio of 67.89, a P/E/G ratio of 2.65 and a beta of 2.50. The firm has a fifty day simple moving average of $335.63 and a 200 day simple moving average of $350.88. RH has a twelve month low of $212.04 and a twelve month high of $457.26.

Insider Activity at RH

In related news, insider Eri Chaya sold 25,000 shares of the firm’s stock in a transaction on Tuesday, January 14th. The shares were sold at an average price of $426.41, for a total transaction of $10,660,250.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Christina Hargarten sold 5,280 shares of the firm’s stock in a transaction that occurred on Friday, January 17th. The shares were sold at an average price of $447.20, for a total value of $2,361,216.00. Following the transaction, the chief accounting officer now owns 484 shares of the company’s stock, valued at $216,444.80. This represents a 91.60 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 66,380 shares of company stock worth $28,922,379. 28.10% of the stock is owned by insiders.

Hedge Funds Weigh In On RH

Hedge funds have recently added to or reduced their stakes in the company. Wellington Management Group LLP raised its holdings in shares of RH by 14.0% in the fourth quarter. Wellington Management Group LLP now owns 44,880 shares of the company’s stock valued at $17,664,000 after acquiring an additional 5,506 shares in the last quarter. 111 Capital purchased a new stake in RH during the 4th quarter worth approximately $211,000. PKO Investment Management Joint Stock Co acquired a new position in RH during the 4th quarter valued at approximately $590,000. Copia Wealth Management purchased a new position in RH in the 4th quarter worth $106,000. Finally, Polar Asset Management Partners Inc. lifted its holdings in shares of RH by 321.4% during the fourth quarter. Polar Asset Management Partners Inc. now owns 17,700 shares of the company’s stock worth $6,967,000 after purchasing an additional 13,500 shares during the period. 90.17% of the stock is currently owned by institutional investors.

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.