CIBC Cuts Richelieu Hardware (TSE:RCH) Price Target to C$42.00

Richelieu Hardware (TSE:RCH) had its target price lowered by CIBC from C$43.00 to C$42.00 in a research note issued to investors on Wednesday,BayStreet.CA reports.

Richelieu Hardware Stock Up 4.9 %

TSE RCH opened at C$41.42 on Wednesday. Richelieu Hardware has a 12 month low of C$36.30 and a 12 month high of C$47.37. The company has a current ratio of 3.46, a quick ratio of 0.72 and a debt-to-equity ratio of 26.31. The stock has a market cap of C$2.31 billion, a PE ratio of 25.89, a P/E/G ratio of 0.77 and a beta of 0.94. The stock’s 50 day moving average is C$38.91 and its 200 day moving average is C$39.16.

Richelieu Hardware Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 13th. Stockholders of record on Thursday, February 13th will be given a dividend of $0.1533 per share. This is a positive change from Richelieu Hardware’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend is Thursday, January 30th. This represents a $0.61 dividend on an annualized basis and a dividend yield of 1.48%. Richelieu Hardware’s dividend payout ratio (DPR) is presently 37.50%.

Insider Buying and Selling

In other news, Senior Officer Guy Grenier sold 3,000 shares of the stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of C$37.54, for a total transaction of C$112,632.90. Also, Senior Officer Antoine Auclair sold 5,400 shares of the firm’s stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of C$38.26, for a total transaction of C$206,605.62. 7.62% of the stock is owned by company insiders.

Richelieu Hardware Company Profile

Richelieu Hardware Ltd. manufactures, imports, and distributes specialty hardware and complementary products in Canada and the United States. The company’s principal product categories include furniture, glass and building decorative, and functional hardware; lighting systems; finishing and decorating products; ergonomic workstation components; kitchen and closet storage solutions; sliding door systems; decorative and functional panels; high-pressure laminates; railing and balusters; floor protection products; and power tool accessories.