Bank of America Has Lowered Expectations for RH (NYSE:RH) Stock Price

RH (NYSE:RH) had its price objective cut by Bank of America from $510.00 to $410.00 in a report issued on Wednesday,Benzinga reports. They currently have a buy rating on the stock.

RH has been the topic of a number of other reports. Loop Capital lifted their price objective on RH from $320.00 to $450.00 and gave the stock a “hold” rating in a research note on Monday, December 16th. Guggenheim dropped their target price on shares of RH from $550.00 to $500.00 and set a “buy” rating on the stock in a research report on Wednesday. Citigroup cut their target price on shares of RH from $556.00 to $437.00 and set a “buy” rating for the company in a research note on Monday, March 24th. UBS Group decreased their price target on shares of RH from $440.00 to $250.00 and set a “neutral” rating on the stock in a research report on Friday, March 21st. Finally, Barclays raised shares of RH from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $383.00 to $515.00 in a research report on Wednesday, January 8th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $403.25.

RH Stock Down 2.9 %

NYSE RH opened at $236.26 on Wednesday. The company has a 50 day moving average price of $335.63 and a two-hundred day moving average price of $350.88. RH has a 12-month low of $212.04 and a 12-month high of $457.26. The stock has a market capitalization of $4.40 billion, a PE ratio of 67.89, a price-to-earnings-growth ratio of 2.65 and a beta of 2.50.

Insider Activity at RH

In other RH news, insider Eri Chaya sold 25,000 shares of the firm’s stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $450.45, for a total transaction of $11,261,250.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Keith Belling sold 500 shares of the company’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $417.85, for a total value of $208,925.00. Following the completion of the sale, the director now directly owns 4,970 shares of the company’s stock, valued at approximately $2,076,714.50. This trade represents a 9.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 66,380 shares of company stock worth $28,922,379 over the last 90 days. Insiders own 28.10% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in RH. Wellington Management Group LLP raised its position in shares of RH by 14.0% during the fourth quarter. Wellington Management Group LLP now owns 44,880 shares of the company’s stock worth $17,664,000 after purchasing an additional 5,506 shares during the period. 111 Capital acquired a new position in shares of RH in the 4th quarter valued at approximately $211,000. PKO Investment Management Joint Stock Co bought a new stake in RH during the 4th quarter worth approximately $590,000. Copia Wealth Management acquired a new stake in RH during the 4th quarter worth approximately $106,000. Finally, Polar Asset Management Partners Inc. lifted its stake in RH by 321.4% in the fourth quarter. Polar Asset Management Partners Inc. now owns 17,700 shares of the company’s stock valued at $6,967,000 after buying an additional 13,500 shares in the last quarter. 90.17% of the stock is owned by institutional investors and hedge funds.

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.