RH (NYSE:RH) Sees Unusually-High Trading Volume – Here’s Why

RH (NYSE:RH) shares saw strong trading volume on Monday . 1,635,100 shares changed hands during trading, an increase of 95% from the previous session’s volume of 838,933 shares.The stock last traded at $158.61 and had previously closed at $145.66.

Wall Street Analysts Forecast Growth

RH has been the topic of a number of research reports. Loop Capital dropped their price target on RH from $450.00 to $190.00 and set a “hold” rating on the stock in a research note on Friday. Morgan Stanley decreased their price objective on shares of RH from $530.00 to $300.00 and set an “overweight” rating for the company in a research note on Thursday. UBS Group lowered their target price on RH from $250.00 to $235.00 and set a “neutral” rating on the stock in a research note on Thursday. Wedbush lowered their price target on shares of RH from $500.00 to $350.00 and set an “outperform” rating on the stock in a report on Wednesday, March 26th. Finally, Guggenheim reduced their price objective on RH from $500.00 to $300.00 and set a “buy” rating for the company in a report on Thursday. Three analysts have rated the stock with a sell rating, five have issued a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $283.94.

RH Price Performance

The firm’s 50 day moving average price is $312.06 and its 200-day moving average price is $348.44. The stock has a market cap of $3.05 billion, a P/E ratio of 47.12, a P/E/G ratio of 2.65 and a beta of 2.44.

RH (NYSE:RH) last announced its earnings results on Wednesday, April 2nd. The company reported $1.58 EPS for the quarter, missing analysts’ consensus estimates of $1.91 by ($0.33). RH had a negative return on equity of 35.72% and a net margin of 2.25%. The company had revenue of $812.41 million during the quarter, compared to the consensus estimate of $828.21 million. During the same period in the prior year, the business posted $0.72 earnings per share. RH’s revenue for the quarter was up 10.0% compared to the same quarter last year. On average, analysts expect that RH will post 4.39 earnings per share for the current year.

Insider Buying and Selling at RH

In other news, insider Eri Chaya sold 25,000 shares of the firm’s stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $450.45, for a total value of $11,261,250.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Christina Hargarten sold 5,280 shares of RH stock in a transaction dated Friday, January 17th. The stock was sold at an average price of $447.20, for a total transaction of $2,361,216.00. Following the transaction, the chief accounting officer now directly owns 484 shares of the company’s stock, valued at approximately $216,444.80. This represents a 91.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 55,880 shares of company stock worth $24,550,754. Insiders own 28.10% of the company’s stock.

Institutional Trading of RH

Institutional investors and hedge funds have recently made changes to their positions in the business. Alliancebernstein L.P. boosted its holdings in shares of RH by 1,960.8% in the fourth quarter. Alliancebernstein L.P. now owns 363,698 shares of the company’s stock valued at $143,148,000 after purchasing an additional 346,050 shares during the period. Norges Bank purchased a new stake in shares of RH in the 4th quarter worth $54,314,000. Raymond James Financial Inc. bought a new position in shares of RH during the 4th quarter worth $52,190,000. Freestone Grove Partners LP purchased a new position in shares of RH during the fourth quarter valued at $44,744,000. Finally, American Century Companies Inc. raised its holdings in shares of RH by 2,227.7% in the fourth quarter. American Century Companies Inc. now owns 105,701 shares of the company’s stock valued at $41,603,000 after acquiring an additional 101,160 shares in 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.