TD Cowen Raises RH (NYSE:RH) Price Target to $350.00

RH (NYSE:RH) had its price objective boosted by TD Cowen from $325.00 to $350.00 in a report published on Friday morning, Benzinga reports. The firm currently has a buy rating on the stock.

Other analysts also recently issued research reports about the stock. StockNews.com upgraded shares of RH to a sell rating in a report on Friday, June 21st. Wells Fargo & Company raised their target price on RH from $325.00 to $350.00 and gave the stock an overweight rating in a research note on Friday. BNP Paribas raised RH to a hold rating in a research note on Friday, June 14th. Loop Capital cut their price objective on RH from $350.00 to $230.00 and set a hold rating for the company in a research report on Monday, June 17th. Finally, Stifel Nicolaus started coverage on shares of RH in a report on Tuesday, July 9th. They issued a buy rating and a $315.00 price objective on the stock. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of Hold and an average target price of $313.08.

RH Stock Performance

NYSE RH opened at $321.87 on Friday. The stock’s fifty day moving average is $263.59 and its two-hundred day moving average is $266.32. The firm has a market capitalization of $5.94 billion, a P/E ratio of 89.16, a price-to-earnings-growth ratio of 1.08 and a beta of 2.42. RH has a fifty-two week low of $207.26 and a fifty-two week high of $354.86.

RH (NYSE:RH) last announced its quarterly earnings results on Thursday, September 12th. The company reported $1.69 earnings per share for the quarter, beating the consensus estimate of $1.56 by $0.13. RH had a net margin of 2.72% and a negative return on equity of 29.15%. The firm had revenue of $829.66 million for the quarter, compared to analysts’ expectations of $824.52 million. During the same quarter in the previous year, the company posted $3.93 EPS. The company’s revenue was up 3.6% compared to the same quarter last year. As a group, sell-side analysts forecast that RH will post 7.29 EPS for the current year.

Insider Activity

In other RH news, CEO Gary G. Friedman purchased 34,200 shares of the company’s stock in a transaction on Tuesday, June 25th. The stock was acquired at an average price of $215.00 per share, for a total transaction of $7,353,000.00. Following the completion of the purchase, 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 filing with the SEC, which is available through this link. Insiders own 28.10% of the company’s stock.

Hedge Funds Weigh In On RH

Several hedge funds and other institutional investors have recently made changes to their positions in RH. Anomaly Capital Management LP raised its holdings in shares of RH by 503.6% in the 2nd quarter. Anomaly Capital Management LP now owns 349,227 shares of the company’s stock valued at $85,365,000 after purchasing an additional 291,368 shares in the last quarter. Norges Bank purchased a new position in RH in the fourth quarter valued at $38,736,000. Granahan Investment Management LLC acquired a new stake in RH in the fourth quarter valued at $24,915,000. Marshall Wace LLP lifted its holdings in RH by 58.6% during the 2nd quarter. Marshall Wace LLP now owns 174,324 shares of the company’s stock worth $42,612,000 after buying an additional 64,423 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its position in shares of RH by 10.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 665,383 shares of the company’s stock worth $231,728,000 after acquiring an additional 62,198 shares in the last quarter. Hedge funds and other institutional investors own 90.17% of the company’s stock.

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.