RH (NYSE:RH) Sees Large Volume Increase Following Analyst Upgrade

Shares of RH (NYSE:RH) saw strong trading volume on Monday after Stifel Nicolaus raised their price target on the stock from $315.00 to $375.00. Stifel Nicolaus currently has a buy rating on the stock. 326,561 shares were traded during mid-day trading, a decline of 55% from the previous session’s volume of 733,617 shares.The stock last traded at $333.05 and had previously closed at $321.87.

Several other brokerages have also issued reports on RH. Loop Capital lifted their price target on RH from $230.00 to $320.00 and gave the company a “hold” rating in a research note on Monday. Telsey Advisory Group reiterated a “market perform” rating and issued a $290.00 target price on shares of RH in a research report on Tuesday, September 10th. BNP Paribas raised shares of RH to a “hold” rating in a report on Friday, June 14th. Citigroup lifted their price target on shares of RH from $340.00 to $355.00 and gave the company a “buy” rating in a report on Friday. Finally, Morgan Stanley increased their price objective on shares of RH from $300.00 to $310.00 and gave the company an “equal weight” rating in a research note on Friday. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $323.08.

Insider Activity

In other news, CEO Gary G. Friedman acquired 34,200 shares of the business’s stock in a transaction on Tuesday, June 25th. The shares were purchased at an average cost of $215.00 per share, with a total value of $7,353,000.00. Following the acquisition, the chief executive officer now directly owns 3,339,263 shares of the company’s stock, valued at $717,941,545. The transaction was disclosed in a document filed with the SEC, which is available through this link. Corporate insiders own 28.10% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RH. Janus Henderson Group PLC boosted its holdings in RH by 0.4% in the 1st quarter. Janus Henderson Group PLC now owns 8,580 shares of the company’s stock worth $2,986,000 after buying an additional 38 shares during the period. Insight Advisors LLC PA boosted its holdings in shares of RH by 2.8% in the first quarter. Insight Advisors LLC PA now owns 1,447 shares of the company’s stock worth $504,000 after acquiring an additional 39 shares during the period. Pacer Advisors Inc. raised its stake in shares of RH by 1.7% during the 2nd quarter. Pacer Advisors Inc. now owns 2,340 shares of the company’s stock valued at $572,000 after purchasing an additional 40 shares during the period. Tradition Wealth Management LLC lifted its holdings in 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. Finally, Texas Permanent School Fund Corp boosted its stake in RH by 0.4% in the 1st quarter. Texas Permanent School Fund Corp now owns 13,378 shares of the company’s stock worth $4,659,000 after purchasing an additional 47 shares during the period. 90.17% of the stock is currently owned by hedge funds and other institutional investors.

RH Trading Up 2.9 %

The stock has a fifty day simple moving average of $263.59 and a two-hundred day simple moving average of $266.33. The firm has a market cap of $6.11 billion, a PE ratio of 92.26, a price-to-earnings-growth ratio of 1.13 and a beta of 2.42.

RH (NYSE:RH) last released its quarterly earnings results on Thursday, September 12th. The company reported $1.69 earnings per share for the quarter, topping the consensus estimate of $1.56 by $0.13. RH had a net margin of 1.13% and a negative return on equity of 10.63%. The firm had revenue of $829.66 million for the quarter, compared to analysts’ expectations of $824.52 million. During the same quarter in the prior year, the firm posted $3.93 earnings per share. The business’s quarterly revenue was up 3.6% on a year-over-year basis. As a group, sell-side analysts predict that RH will post 7.29 earnings per share for the current fiscal year.

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.