Lazard Asset Management LLC Has $4.76 Million Stock Position in RH (NYSE:RH)

Lazard Asset Management LLC increased its position in shares of RH (NYSE:RH) by 68.7% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,660 shares of the company’s stock after purchasing an additional 5,565 shares during the quarter. Lazard Asset Management LLC owned approximately 0.07% of RH worth $4,757,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in RH. Creekmur Asset Management LLC bought a new position in shares of RH in the fourth quarter worth about $25,000. Benjamin F. Edwards & Company Inc. bought a new position in shares of RH in the fourth quarter worth about $35,000. Quest Partners LLC bought a new position in shares of RH in the fourth quarter worth about $37,000. Global Retirement Partners LLC raised its stake in shares of RH by 120.3% in the fourth quarter. Global Retirement Partners LLC now owns 141 shares of the company’s stock worth $41,000 after acquiring an additional 77 shares during the last quarter. Finally, Hollencrest Capital Management bought a new position in shares of RH in the first quarter worth about $47,000. Institutional investors and hedge funds own 90.17% of the company’s stock.

RH Stock Performance

Shares of RH opened at $282.05 on Monday. RH has a twelve month low of $207.26 and a twelve month high of $406.38. The firm’s 50 day moving average price is $255.25 and its two-hundred day moving average price is $266.43. The firm has a market cap of $5.20 billion, a P/E ratio of 77.83, a PEG ratio of 1.07 and a beta of 2.42.

RH (NYSE:RH) last announced its quarterly earnings results on Thursday, June 13th. The company reported ($0.40) earnings per share 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 29.15%. The company had revenue of $726.96 million during the quarter, compared to the consensus estimate of $725.15 million. During the same period in the previous year, the firm posted $2.21 EPS. The business’s quarterly revenue was down 1.7% compared to the same quarter last year. On average, sell-side analysts anticipate that RH will post 8.01 earnings per share for the current fiscal year.

Insider Buying and Selling at RH

In other news, insider Eri Chaya sold 100,000 shares of the business’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $279.92, for a total value of $27,992,000.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other RH news, CEO Gary G. Friedman acquired 34,200 shares of the business’s stock in a transaction dated Tuesday, June 25th. The shares were acquired at an average price of $215.00 per share, with a total value of $7,353,000.00. Following the completion of the transaction, the chief executive officer now directly owns 3,339,263 shares in the company, valued at approximately $717,941,545. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Eri Chaya sold 100,000 shares of the business’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. Insiders own 28.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on RH. Wells Fargo & Company dropped their target price on shares of RH from $360.00 to $350.00 and set an “overweight” rating for the company in a research note on Friday, June 14th. Oppenheimer reiterated a “market perform” rating on shares of RH in a research report on Monday, April 1st. Morgan Stanley lowered their price target on shares of RH from $320.00 to $300.00 and set an “equal weight” rating for the company in a research report on Monday, June 17th. Barclays lifted their price target on shares of RH from $293.00 to $340.00 and gave the stock an “equal weight” rating in a research report on Monday, April 1st. Finally, BNP Paribas upgraded shares of RH to a “hold” rating in a research report on Friday, June 14th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, RH presently has an average rating of “Hold” and a consensus target price of $310.79.

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.