RH (NYSE:RH) Price Target Raised to $355.00 at Citigroup

RH (NYSE:RH) had its target price increased by Citigroup from $340.00 to $355.00 in a report published on Friday, Benzinga reports. Citigroup currently has a buy rating on the stock.

RH has been the subject of a number of other reports. The Goldman Sachs Group cut their target price on RH from $264.00 to $226.00 and set a sell rating for the company in a research note on Monday, June 17th. Stifel Nicolaus initiated coverage on shares of RH in a report on Tuesday, July 9th. They issued a buy rating and a $315.00 price target for the company. Bank of America boosted their target price on RH from $310.00 to $359.00 and gave the stock a buy rating in a research report on Friday. TD Cowen boosted their price objective on shares of RH from $325.00 to $350.00 and gave the stock a buy rating in a research report on Friday. Finally, Robert W. Baird raised their target price on shares of RH from $275.00 to $290.00 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. Based on data from MarketBeat, RH currently has an average rating of Hold and a consensus target price of $322.54.

RH Stock Performance

RH stock opened at $329.99 on Friday. The company has a market capitalization of $6.09 billion, a P/E ratio of 91.41, a PEG ratio of 1.13 and a beta of 2.42. RH has a fifty-two week low of $207.26 and a fifty-two week high of $354.86. The stock has a 50-day simple moving average of $265.34 and a 200-day simple moving average of $266.73.

RH (NYSE:RH) last announced its earnings results on Thursday, September 12th. The company reported $1.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.56 by $0.13. RH had a net margin of 1.13% and a negative return on equity of 10.63%. The business had revenue of $829.66 million for the quarter, compared to analyst estimates of $824.52 million. During the same period last year, the firm posted $3.93 earnings per share. The company’s revenue for the quarter was up 3.6% compared to the same quarter last year. As a group, analysts forecast that RH will post 7.29 earnings per share for the current year.

Insider Transactions at RH

In other RH news, CEO Gary G. Friedman acquired 34,200 shares of the company’s stock in a transaction that occurred on Tuesday, June 25th. The shares were purchased at an average price of $215.00 per share, for a total transaction of $7,353,000.00. Following the completion of the purchase, the chief executive officer now directly owns 3,339,263 shares in the company, valued at $717,941,545. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 28.10% of the company’s stock.

Hedge Funds Weigh In On RH

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Anomaly Capital Management LP increased its stake in RH by 503.6% during the 2nd quarter. Anomaly Capital Management LP now owns 349,227 shares of the company’s stock valued at $85,365,000 after buying an additional 291,368 shares during the period. Norges Bank acquired a new position in shares of RH during the 4th quarter valued at $38,736,000. Granahan Investment Management LLC bought a new stake in shares of RH in the 4th quarter worth $24,915,000. Marshall Wace LLP lifted its holdings in shares of RH by 58.6% in the second quarter. Marshall Wace LLP now owns 174,324 shares of the company’s stock valued at $42,612,000 after buying an additional 64,423 shares during the period. Finally, Price T Rowe Associates Inc. MD boosted its stake in RH by 10.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 665,383 shares of the company’s stock valued at $231,728,000 after buying an additional 62,198 shares in the last quarter. 90.17% of the stock is owned by institutional investors.

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.