Fulton Bank N.A. Boosts Stock Holdings in RH (NYSE:RH)

Fulton Bank N.A. boosted its stake in shares of RH (NYSE:RH) by 12.7% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,034 shares of the company’s stock after purchasing an additional 230 shares during the period. Fulton Bank N.A.’s holdings in RH were worth $497,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in RH. Creekmur Asset Management LLC acquired a new stake in RH during the 4th quarter valued at $25,000. Benjamin F. Edwards & Company Inc. acquired a new stake in RH during the 4th quarter valued at $35,000. Quest Partners LLC acquired a new position in shares of RH in the 4th quarter valued at about $37,000. Hollencrest Capital Management acquired a new position in shares of RH in the 1st quarter valued at about $47,000. Finally, Global Retirement Partners LLC boosted its holdings in shares of RH by 120.3% in the 4th quarter. Global Retirement Partners LLC now owns 141 shares of the company’s stock valued at $41,000 after buying an additional 77 shares during the period. Hedge funds and other institutional investors own 90.17% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on RH shares. TD Cowen decreased their price target on shares of RH from $350.00 to $325.00 and set a “buy” rating for the company in a report on Friday, June 14th. Wedbush cut their price objective on shares of RH from $320.00 to $250.00 and set a “neutral” rating on the stock in a research report on Friday, June 14th. Robert W. Baird cut their price objective on shares of RH from $300.00 to $275.00 and set a “neutral” rating on the stock in a research report on Friday, June 14th. BNP Paribas upgraded shares of RH to a “hold” rating in a research report on Friday, June 14th. Finally, Bank of America cut their price objective on shares of RH from $375.00 to $325.00 and set a “buy” rating on the stock in a research report on Friday, June 14th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $310.79.

RH Price Performance

RH traded up $1.07 on Wednesday, reaching $254.60. 238,908 shares of the company traded hands, compared to its average volume of 720,468. The stock’s 50 day moving average price is $256.89 and its 200-day moving average price is $266.85. RH has a 52-week low of $207.26 and a 52-week high of $403.04. The company has a market cap of $4.69 billion, a price-to-earnings ratio of 70.24, a PEG ratio of 0.99 and a beta of 2.42.

RH (NYSE:RH) last announced its quarterly earnings data on Thursday, June 13th. The company reported ($0.40) EPS for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.32). RH had a net margin of 2.72% and a negative return on equity of 29.15%. The company had revenue of $726.96 million for the quarter, compared to analysts’ expectations of $725.15 million. During the same period in the previous year, the firm posted $2.21 earnings per share. The business’s revenue for the quarter was down 1.7% on a year-over-year basis. As a group, equities research analysts forecast that RH will post 7.91 earnings per share for the current fiscal year.

Insider Transactions at RH

In related news, CEO Gary G. Friedman bought 34,200 shares of the business’s stock in a transaction that occurred on Tuesday, June 25th. The stock was purchased at an average cost of $215.00 per share, for a total transaction of $7,353,000.00. Following the purchase, the chief executive officer now directly owns 3,339,263 shares in the company, valued at $717,941,545. The purchase was disclosed in a filing with the SEC, which is available through this link. 28.10% of the stock is owned by corporate insiders.

RH 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.