RH (NYSE:RH) Announces Quarterly Earnings Results

RH (NYSE:RH) released its earnings results on Thursday. The company reported $1.69 earnings per share for the quarter, beating the consensus estimate of $1.56 by $0.13, Briefing.com reports. The business had revenue of $829.66 million during the quarter, compared to analysts’ expectations of $824.52 million. RH had a net margin of 2.72% and a negative return on equity of 29.15%. The firm’s revenue was up 3.6% on a year-over-year basis. During the same quarter last year, the company earned $3.93 earnings per share. RH updated its FY 2024 guidance to EPS and its Q3 2024 guidance to EPS.

RH Stock Up 25.5 %

RH opened at $321.87 on Friday. The company has a fifty day simple moving average of $263.59 and a 200 day simple moving average of $266.32. The stock has a market cap of $5.94 billion, a P/E ratio of 89.16, a P/E/G ratio of 1.08 and a beta of 2.42. RH has a 12 month low of $207.26 and a 12 month high of $354.86.

Insider Buying and Selling at RH

In related news, CEO Gary G. Friedman bought 34,200 shares of the company’s stock in a transaction on Tuesday, June 25th. The shares were purchased 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 owns 3,339,263 shares of the company’s stock, valued at approximately $717,941,545. The purchase was disclosed in a filing with the SEC, which is available at this link. Insiders own 28.10% of the company’s stock.

Institutional Trading of RH

A number of institutional investors have recently modified their holdings of RH. Creekmur Asset Management LLC acquired a new stake in RH in the 4th quarter valued at $25,000. Quest Partners LLC bought a new stake in RH during the fourth quarter worth about $37,000. Hollencrest Capital Management acquired a new position in RH during the first quarter valued at approximately $47,000. Ridgewood Investments LLC acquired a new position in shares of RH during the 2nd quarter worth approximately $62,000. Finally, Tradition Wealth Management LLC raised its stake in shares of RH by 14.8% during the 4th quarter. Tradition Wealth Management LLC now owns 350 shares of the company’s stock worth $102,000 after purchasing an additional 45 shares in the last quarter. 90.17% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently commented on RH shares. Loop Capital reduced their target price on RH from $350.00 to $230.00 and set a “hold” rating for the company in a research report on Monday, June 17th. Robert W. Baird lifted their target price on shares of RH from $275.00 to $290.00 and gave the company a “neutral” rating in a research note on Friday. Citigroup increased their price target on RH from $340.00 to $355.00 and gave the stock a “buy” rating in a research report on Friday. Stifel Nicolaus initiated coverage on RH in a report on Tuesday, July 9th. They set a “buy” rating and a $315.00 target price on the stock. Finally, Wedbush lifted their price target on RH from $250.00 to $310.00 and gave the company a “neutral” rating in a report on Friday. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $313.08.

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.