RH (NYSE:RH) Price Target Lowered to $310.00 at Bank of America

RH (NYSE:RH) had its price target decreased by Bank of America from $325.00 to $310.00 in a report released on Thursday, Benzinga reports. Bank of America currently has a buy rating on the stock.

Other analysts have also issued reports about the company. Wedbush lowered their price target on RH from $320.00 to $250.00 and set a neutral rating on the stock in a research note on Friday, June 14th. BNP Paribas upgraded RH to a hold rating in a research report on Friday, June 14th. TD Cowen reduced their price objective on RH from $350.00 to $325.00 and set a buy rating on the stock in a research report on Friday, June 14th. The Goldman Sachs Group reduced their price objective on RH from $264.00 to $226.00 and set a sell rating on the stock in a research report on Monday, June 17th. Finally, Wells Fargo & Company reduced their price objective on RH from $360.00 to $350.00 and set an overweight rating on the stock 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 company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of Hold and an average price target of $309.71.

RH Price Performance

Shares of NYSE:RH opened at $249.79 on Thursday. The business’s 50 day moving average price is $261.23 and its 200-day moving average price is $266.41. The firm has a market capitalization of $4.61 billion, a PE ratio of 69.19, a P/E/G ratio of 1.00 and a beta of 2.42. RH has a 1 year low of $207.26 and a 1 year high of $384.41.

RH (NYSE:RH) last issued its quarterly earnings results on Thursday, June 13th. The company reported ($0.40) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.32). The firm had revenue of $726.96 million during the quarter, compared to analyst estimates of $725.15 million. RH had a negative return on equity of 29.15% and a net margin of 2.72%. The business’s revenue was down 1.7% on a year-over-year basis. During the same period in the prior year, the firm earned $2.21 earnings per share. As a group, analysts expect that RH will post 7.69 earnings per share for the current year.

Insider Buying and Selling at RH

In other RH news, CEO Gary G. Friedman bought 34,200 shares of RH stock in a transaction on Tuesday, June 25th. The shares were bought at an average price of $215.00 per share, for a total transaction of $7,353,000.00. Following the completion of the transaction, the chief executive officer now directly owns 3,339,263 shares of the company’s stock, valued at $717,941,545. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 28.10% of the company’s stock.

Institutional Investors Weigh In On RH

Several institutional investors and hedge funds have recently modified their holdings of RH. Russell Investments Group Ltd. raised its holdings in shares of RH by 49.3% in the 4th quarter. Russell Investments Group Ltd. now owns 14,237 shares of the company’s stock valued at $4,150,000 after buying an additional 4,701 shares during the period. New York Life Investment Management LLC raised its holdings in shares of RH by 4.1% in the 4th quarter. New York Life Investment Management LLC now owns 1,703 shares of the company’s stock valued at $496,000 after buying an additional 67 shares during the period. Amalgamated Bank raised its holdings in shares of RH by 0.8% in the 4th quarter. Amalgamated Bank now owns 11,459 shares of the company’s stock valued at $3,340,000 after buying an additional 95 shares during the period. Benjamin F. Edwards & Company Inc. purchased a new stake in shares of RH in the 4th quarter valued at $35,000. Finally, M&T Bank Corp purchased a new stake in shares of RH in the 4th quarter valued at $213,000. 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.