Morgan Stanley Upgrades RH (NYSE:RH) to “Overweight”

Morgan Stanley upgraded shares of RH (NYSE:RH) from an equal weight rating to an overweight rating in a research note released on Monday morning, MarketBeat.com reports. The brokerage currently has $530.00 price target on the stock, up from their previous price target of $435.00.

RH has been the topic of several other reports. Wells Fargo & Company lifted their price target on RH from $425.00 to $500.00 and gave the company an “overweight” rating in a research report on Friday, December 13th. Barclays raised RH from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $383.00 to $515.00 in a report on Wednesday, January 8th. Stifel Nicolaus upped their price target on shares of RH from $420.00 to $500.00 and gave the company a “buy” rating in a report on Monday, December 16th. JPMorgan Chase & Co. reduced their price objective on shares of RH from $345.00 to $338.00 and set an “overweight” rating for the company in a research report on Monday, September 16th. Finally, BNP Paribas reiterated an “underperform” rating and issued a $253.00 target price on shares of RH in a report on Wednesday, November 13th. Three analysts have rated the stock with a sell rating, three have assigned a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, RH has an average rating of “Hold” and an average target price of $421.73.

RH Stock Up 1.2 %

Shares of NYSE RH opened at $418.76 on Monday. The firm’s 50-day simple moving average is $379.30 and its 200 day simple moving average is $321.02. The stock has a market cap of $7.79 billion, a P/E ratio of 120.33, a P/E/G ratio of 2.73 and a beta of 2.43. RH has a fifty-two week low of $212.43 and a fifty-two week high of $457.26.

RH (NYSE:RH) last issued its quarterly earnings results on Thursday, December 12th. The company reported $2.48 earnings per share for the quarter, missing analysts’ consensus estimates of $2.67 by ($0.19). The company had revenue of $811.73 million during the quarter, compared to analyst estimates of $812.19 million. RH had a negative return on equity of 32.76% and a net margin of 2.25%. The company’s revenue was up 8.1% on a year-over-year basis. During the same period in the prior year, the company posted ($0.42) earnings per share. On average, sell-side analysts anticipate that RH will post 5.63 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Keith Belling sold 500 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $417.85, for a total transaction of $208,925.00. Following the transaction, the director now directly owns 4,970 shares of the company’s stock, valued at approximately $2,076,714.50. The trade was a 9.14 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Eri Chaya sold 10,000 shares of the stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $416.27, for a total transaction of $4,162,700.00. The disclosure for this sale can be found here. Insiders sold 13,000 shares of company stock worth $5,286,265 over the last quarter. Corporate insiders own 28.10% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Commonwealth Equity Services LLC lifted its holdings in shares of RH by 187.8% during the 2nd quarter. Commonwealth Equity Services LLC now owns 2,438 shares of the company’s stock valued at $596,000 after buying an additional 1,591 shares during the last quarter. Daiwa Securities Group Inc. raised its holdings in shares of RH by 68.9% during the 2nd quarter. Daiwa Securities Group Inc. now owns 870 shares of the company’s stock valued at $213,000 after purchasing an additional 355 shares in the last quarter. WINTON GROUP Ltd acquired a new stake in shares of RH in the 2nd quarter valued at $340,000. Dimensional Fund Advisors LP boosted its holdings in RH by 18.0% in the second quarter. Dimensional Fund Advisors LP now owns 270,993 shares of the company’s stock worth $66,239,000 after purchasing an additional 41,242 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV increased its position in RH by 4.0% during the second quarter. Mercer Global Advisors Inc. ADV now owns 1,212 shares of the company’s stock worth $296,000 after buying an additional 47 shares during the last quarter. 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.