RH (NYSE:RH) Sees Unusually-High Trading Volume After Analyst Upgrade

Shares of RH (NYSE:RH) saw an uptick in trading volume on Monday after Stifel Nicolaus raised their price target on the stock from $315.00 to $375.00. Stifel Nicolaus currently has a buy rating on the stock. 326,561 shares changed hands during mid-day trading, a decline of 55% from the previous session’s volume of 733,617 shares.The stock last traded at $333.05 and had previously closed at $321.87.

A number of other research analysts have also weighed in on RH. TD Cowen raised their target price on RH from $325.00 to $350.00 and gave the company a “buy” rating in a report on Friday. StockNews.com upgraded RH to a “sell” rating in a research note on Friday, June 21st. Citigroup increased their price target on shares of RH from $340.00 to $355.00 and gave the company a “buy” rating in a research report on Friday. Wells Fargo & Company boosted their target price on RH from $325.00 to $350.00 and gave the company an “overweight” rating in a research note on Friday. Finally, Morgan Stanley boosted their price target on shares of RH from $300.00 to $310.00 and gave the company an “equal weight” rating in a research report on Friday. Two 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, the stock currently has a consensus rating of “Hold” and a consensus price target of $322.54.

Insider Transactions at RH

In other news, CEO Gary G. Friedman purchased 34,200 shares of the stock in a transaction that occurred on Tuesday, June 25th. The stock was bought at an average cost of $215.00 per share, for a total transaction of $7,353,000.00. Following the acquisition, the chief executive officer now directly owns 3,339,263 shares of the company’s stock, valued at approximately $717,941,545. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 28.10% of the company’s stock.

Institutional Trading of RH

Several large investors have recently added to or reduced their stakes in the stock. Texas Permanent School Fund Corp boosted its position in RH by 25.3% during the 2nd quarter. Texas Permanent School Fund Corp now owns 16,765 shares of the company’s stock valued at $4,098,000 after acquiring an additional 3,387 shares in the last quarter. Findell Capital Management LLC purchased a new stake in shares of RH in the fourth quarter worth $5,247,000. First Hawaiian Bank increased its holdings in shares of RH by 116.2% during the second quarter. First Hawaiian Bank now owns 5,718 shares of the company’s stock valued at $1,398,000 after acquiring an additional 3,073 shares in the last quarter. Entropy Technologies LP bought a new stake in RH during the 1st quarter valued at about $2,200,000. Finally, Artemis Investment Management LLP purchased a new position in RH in the 1st quarter worth approximately $4,637,000. Institutional investors own 90.17% of the company’s stock.

RH Price Performance

The stock has a market cap of $6.09 billion, a PE ratio of 91.41, a PEG ratio of 1.13 and a beta of 2.42. The company has a 50 day moving average price of $265.34 and a two-hundred day moving average price of $266.73.

RH (NYSE:RH) last announced its earnings results on Thursday, September 12th. The company reported $1.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.56 by $0.13. The business had revenue of $829.66 million for the quarter, compared to analysts’ expectations of $824.52 million. RH had a negative return on equity of 10.63% and a net margin of 1.13%. The business’s revenue for the quarter was up 3.6% on a year-over-year basis. During the same period last year, the firm posted $3.93 earnings per share. As a group, equities analysts predict that RH will post 7.29 earnings per share for the current fiscal year.

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.