Wells Fargo & Company Lowers RH (NYSE:RH) Price Target to $350.00

RH (NYSE:RH) had its target price cut by equities research analysts at Wells Fargo & Company from $360.00 to $350.00 in a note issued to investors on Friday, Benzinga reports. The firm presently has an “overweight” rating on the stock. Wells Fargo & Company‘s price objective would suggest a potential upside of 52.35% from the stock’s current price.

RH has been the topic of several other reports. Loop Capital boosted their target price on shares of RH from $260.00 to $350.00 and gave the company a “hold” rating in a research note on Monday, April 1st. Robert W. Baird cut their target price on shares of RH from $300.00 to $275.00 and set a “neutral” rating on the stock in a research note on Friday. Barclays boosted their target price on shares of RH from $293.00 to $340.00 and gave the company an “equal weight” rating in a research note on Monday, April 1st. Wedbush cut their target price on shares of RH from $320.00 to $250.00 and set a “neutral” rating on the stock in a research note on Friday. Finally, JPMorgan Chase & Co. boosted their target price on shares of RH from $329.00 to $345.00 and gave the company an “overweight” rating in a research note on Thursday, March 28th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $321.85.

RH Stock Performance

Shares of NYSE:RH opened at $229.73 on Friday. RH has a one year low of $207.26 and a one year high of $406.38. The stock has a fifty day moving average of $265.77 and a 200-day moving average of $274.34. The company has a market capitalization of $4.21 billion, a PE ratio of 63.64, a price-to-earnings-growth ratio of 0.91 and a beta of 2.51.

RH (NYSE:RH) last announced its quarterly earnings data on Thursday, June 13th. The company reported ($0.40) EPS for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.32). RH had a net margin of 2.72% and a negative return on equity of 28.79%. The company had revenue of $726.96 million for the quarter, compared to analyst estimates of $725.15 million. During the same quarter last year, the company posted $2.21 EPS. RH’s revenue was down 1.7% on a year-over-year basis. As a group, research analysts forecast that RH will post 8.91 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Mark S. Demilio sold 1,000 shares of the company’s stock in a transaction on Tuesday, April 9th. The shares were sold at an average price of $288.99, for a total value of $288,990.00. Following the completion of the sale, the director now directly owns 11,991 shares in the company, valued at $3,465,279.09. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Mark S. Demilio sold 1,000 shares of the company’s stock in a transaction on Tuesday, April 9th. The shares were sold at an average price of $288.99, for a total value of $288,990.00. Following the completion of the sale, the director now directly owns 11,991 shares in the company, valued at $3,465,279.09. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Eri Chaya sold 100,000 shares of the company’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of $279.92, for a total transaction of $27,992,000.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 103,000 shares of company stock worth $28,897,430. Corporate insiders own 28.10% of the company’s stock.

Institutional Investors Weigh In On RH

Hedge funds have recently bought and sold shares of the company. Creekmur Asset Management LLC bought a new stake in RH during the fourth quarter valued at about $25,000. Benjamin F. Edwards & Company Inc. bought a new stake in RH during the fourth quarter valued at about $35,000. Quest Partners LLC bought a new stake in RH during the fourth quarter valued at about $37,000. Global Retirement Partners LLC boosted its holdings in RH by 120.3% during the fourth quarter. Global Retirement Partners LLC now owns 141 shares of the company’s stock valued at $41,000 after acquiring an additional 77 shares during the period. Finally, Hollencrest Capital Management bought a new stake in RH during the first quarter valued at about $47,000. 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.