Wedbush Reaffirms Outperform Rating for RH (NYSE:RH)

RH (NYSE:RH)‘s stock had its “outperform” rating reaffirmed by stock analysts at Wedbush in a research note issued on Friday,RTT News reports. They presently have a $500.00 price target on the stock, up from their previous price target of $430.00. Wedbush’s target price would indicate a potential upside of 12.13% from the company’s previous close.

Several other research analysts have also recently weighed in on RH. Stifel Nicolaus reaffirmed a “buy” rating and set a $420.00 target price (up previously from $375.00) on shares of RH in a research note on Monday. Citigroup raised their target price on RH from $340.00 to $355.00 and gave the company a “buy” rating in a research note on Friday, September 13th. Robert W. Baird raised their target price on RH from $300.00 to $400.00 and gave the company a “neutral” rating in a research note on Friday. Guggenheim raised their target price on RH from $425.00 to $550.00 and gave the company a “buy” rating in a research note on Friday. Finally, Bank of America raised their target price on RH from $310.00 to $359.00 and gave the company a “buy” rating in a research note on Friday, September 13th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $377.07.

RH Price Performance

Shares of RH traded up $64.54 during trading hours on Friday, reaching $445.92. 3,055,903 shares of the company’s stock traded hands, compared to its average volume of 723,773. The firm has a market capitalization of $8.22 billion, a price-to-earnings ratio of 262.31, a P/E/G ratio of 2.44 and a beta of 2.44. RH has a twelve month low of $212.43 and a twelve month high of $457.26. The business’s fifty day simple moving average is $345.55 and its two-hundred day simple moving average is $296.23.

RH (NYSE:RH) last issued its quarterly earnings results on Thursday, December 12th. The company reported $2.48 EPS for the quarter, missing analysts’ consensus estimates of $2.67 by ($0.19). The business had revenue of $811.73 million for the quarter, compared to analyst estimates of $812.19 million. RH had a net margin of 1.13% and a negative return on equity of 11.29%. RH’s revenue for the quarter was up 8.1% on a year-over-year basis. During the same period last year, the business posted ($0.42) earnings per share. On average, equities research analysts expect that RH will post 5.63 EPS for the current year.

Insider Buying and Selling

In other news, insider Stefan Duban sold 4,285 shares of the firm’s 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 of the company’s stock, valued at $27,016.86. This trade represents a 98.21 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Mark S. Demilio sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $340.30, for a total value of $680,600.00. Following the sale, the director now directly owns 10,914 shares of the company’s stock, valued at $3,714,034.20. This trade represents a 15.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 8,285 shares of company stock valued at $2,871,935. Corporate insiders own 28.10% of the company’s stock.

Institutional Investors Weigh In On RH

A number of hedge funds and other institutional investors have recently made changes to their positions in RH. Miracle Mile Advisors LLC purchased a new stake in shares of RH during the 2nd quarter worth about $220,000. Raymond James & Associates raised its stake in shares of RH by 28.1% during the 2nd quarter. Raymond James & Associates now owns 12,864 shares of the company’s stock worth $3,144,000 after purchasing an additional 2,820 shares in the last quarter. Nisa Investment Advisors LLC raised its stake in shares of RH by 16.3% during the 2nd quarter. Nisa Investment Advisors LLC now owns 712 shares of the company’s stock worth $174,000 after purchasing an additional 100 shares in the last quarter. Neo Ivy Capital Management purchased a new stake in shares of RH during the 2nd quarter worth about $1,837,000. Finally, Xcel Wealth Management LLC raised its stake in shares of RH by 10.1% during the 2nd quarter. Xcel Wealth Management LLC now owns 122,938 shares of the company’s stock worth $30,051,000 after purchasing an additional 11,317 shares in the last quarter. 90.17% of the stock is owned by hedge funds and other 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.