RH (NYSE:RH) PT Raised to $350.00 at Wells Fargo & Company

RH (NYSE:RH) had its price objective increased by analysts at Wells Fargo & Company from $325.00 to $350.00 in a research report issued to clients and investors on Friday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Wells Fargo & Company‘s price objective suggests a potential upside of 11.91% from the stock’s previous close.

Several other research firms also recently commented on RH. Loop Capital lowered their target price on shares of RH from $350.00 to $230.00 and set a “hold” rating on the stock in a report on Monday, June 17th. Robert W. Baird boosted their target price on shares of RH from $275.00 to $290.00 and gave the stock a “neutral” rating in a report on Friday. The Goldman Sachs Group lowered their target price on shares of RH from $264.00 to $226.00 and set a “sell” rating on the stock in a report on Monday, June 17th. Telsey Advisory Group reissued a “market perform” rating and issued a $290.00 target price on shares of RH in a report on Tuesday. Finally, Bank of America lowered their target price on shares of RH from $325.00 to $310.00 and set a “buy” rating on the stock in a report on Thursday, September 5th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the company. According to MarketBeat, RH currently has an average rating of “Hold” and an average target price of $303.42.

RH Stock Performance

Shares of RH traded up $56.27 during mid-day trading on Friday, reaching $312.76. The stock had a trading volume of 1,943,723 shares, compared to its average volume of 719,331. The firm has a market cap of $5.77 billion, a price-to-earnings ratio of 86.64, a PEG ratio of 1.08 and a beta of 2.42. RH has a 12 month low of $207.26 and a 12 month high of $354.86. The business has a fifty day moving average of $261.91 and a 200 day moving average of $265.85.

RH (NYSE:RH) last posted its quarterly earnings results on Thursday, September 12th. The company reported $1.69 earnings per share for the quarter, topping analysts’ consensus estimates of $1.56 by $0.13. RH had a net margin of 2.72% and a negative return on equity of 29.15%. The business had revenue of $829.66 million during the quarter, compared to analyst estimates of $824.52 million. During the same period in the prior year, the business posted $3.93 earnings per share. The company’s revenue was up 3.6% on a year-over-year basis. On average, research analysts forecast that RH will post 7.29 EPS for the current fiscal year.

Insider Activity

In other news, CEO Gary G. Friedman bought 34,200 shares of RH 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 purchase, the chief executive officer now owns 3,339,263 shares in the company, valued at approximately $717,941,545. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 28.10% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Price T Rowe Associates Inc. MD grew its holdings in shares of RH by 10.3% in the first 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 during the last quarter. Anomaly Capital Management LP grew its holdings in shares of RH by 503.6% in the second quarter. Anomaly Capital Management LP now owns 349,227 shares of the company’s stock worth $85,365,000 after purchasing an additional 291,368 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of RH by 18.0% in the second quarter. Dimensional Fund Advisors LP now owns 270,993 shares of the company’s stock worth $66,239,000 after purchasing an additional 41,242 shares during the last quarter. Allspring Global Investments Holdings LLC grew its holdings in shares of RH by 24.2% in the second quarter. Allspring Global Investments Holdings LLC now owns 227,247 shares of the company’s stock worth $55,548,000 after purchasing an additional 44,278 shares during the last quarter. Finally, Marshall Wace LLP grew its holdings in shares of RH by 58.6% in the second 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 last quarter. 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.