Bank of America Lowers RH (NYSE:RH) Price Target to $410.00

RH (NYSE:RH) had its price objective lowered by Bank of America from $510.00 to $410.00 in a report issued on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the stock. Bank of America‘s price objective would suggest a potential upside of 67.81% from the stock’s current price.

Several other equities research analysts have also issued reports on the stock. Stifel Nicolaus raised their price target on shares of RH from $420.00 to $500.00 and gave the stock a “buy” rating in a research note on Monday, December 16th. Morgan Stanley upgraded RH from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $435.00 to $530.00 in a research note on Monday, January 13th. UBS Group cut their price target on RH from $440.00 to $250.00 and set a “neutral” rating for the company in a research note on Friday, March 21st. The Goldman Sachs Group upgraded RH from a “sell” rating to a “neutral” rating and boosted their price objective for the company from $261.00 to $374.00 in a research note on Thursday, January 30th. 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 report on Wednesday, January 8th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $403.25.

RH Stock Performance

NYSE RH opened at $244.33 on Wednesday. The company has a market capitalization of $4.55 billion, a PE ratio of 70.21, a price-to-earnings-growth ratio of 2.65 and a beta of 2.50. RH has a 52-week low of $212.04 and a 52-week high of $457.26. The company has a 50-day simple moving average of $339.83 and a 200 day simple moving average of $350.92.

Insider Activity

In other news, insider Edward T. Lee sold 600 shares of the stock in a transaction on Friday, January 17th. The shares were sold at an average price of $446.73, for a total value of $268,038.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Eri Chaya sold 25,000 shares of RH stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $450.45, for a total transaction of $11,261,250.00. The disclosure for this sale can be found here. Insiders sold 66,380 shares of company stock worth $28,922,379 in the last three months. Corporate insiders own 28.10% of the company’s stock.

Institutional Investors Weigh In On RH

Hedge funds have recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. boosted its stake in RH by 0.8% in the fourth quarter. PNC Financial Services Group Inc. now owns 3,872 shares of the company’s stock worth $1,524,000 after buying an additional 29 shares in the last quarter. Steward Partners Investment Advisory LLC lifted its stake in shares of RH by 6.0% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 549 shares of the company’s stock valued at $216,000 after acquiring an additional 31 shares during the last quarter. Insight Advisors LLC PA boosted its holdings in RH by 2.3% during the 4th quarter. Insight Advisors LLC PA now owns 1,449 shares of the company’s stock valued at $571,000 after acquiring an additional 33 shares during the period. US Bancorp DE increased its stake in RH by 14.6% in the 4th quarter. US Bancorp DE now owns 283 shares of the company’s stock worth $111,000 after purchasing an additional 36 shares during the period. Finally, UMB Bank n.a. boosted its stake in shares of RH by 125.8% during the fourth quarter. UMB Bank n.a. now owns 70 shares of the company’s stock valued at $28,000 after purchasing an additional 39 shares during the period. Institutional investors own 90.17% of the company’s stock.

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.