RH (NYSE:RH) Cut to "Underperform" at Bank of America
Bank of America downgraded RH (NYSE:RH) from a "buy" to an "underperform" rating, reducing the price target from $410 to $130, indicating a potential downside of 13.51%. Other analysts have varied opinions, with Loop Capital raising their target to $450 and Wells Fargo lowering it to $300. The stock traded down to $150.30, with a market cap of $2.80 billion. RH reported a quarterly EPS of $1.58, missing estimates, and had a revenue of $812.41 million, up 10% year-over-year. Insider transactions showed significant stock sales recently.
RH (NYSE:RH - Get Free Report) was downgraded by analysts at Bank of America from a "buy" rating to an "underperform" rating in a note issued to investors on Thursday,Briefing.com Automated Import reports. They currently have a $130.00 price objective on the stock, down from their previous price objective of $410.00. Bank of America's price target indicates a potential downside of 13.51% from the stock's current price.
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Several other analysts also recently issued reports on RH. Loop Capital raised their price objective on shares of RH from $320.00 to $450.00 and gave the stock a "hold" rating in a research note on Monday, December 16th. StockNews.com cut RH from a "hold" rating to a "sell" rating in a report on Wednesday, March 19th. Wells Fargo & Company reduced their target price on RH from $375.00 to $300.00 and set an "overweight" rating on the stock in a research note on Thursday. Morgan Stanley lowered their target price on shares of RH from $530.00 to $300.00 and set an "overweight" rating for the company in a research note on Thursday. Finally, Barclays reduced their price target on shares of RH from $515.00 to $436.00 and set an "overweight" rating on the stock in a research note on Thursday. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $310.06.
Get Our Latest Stock Analysis on RH
RH Stock Down 39.7 %
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NYSE:RH traded down $99.05 on Thursday, reaching $150.30. 8,749,953 shares of the company's stock traded hands, compared to its average volume of 785,699. The firm has a market cap of $2.80 billion, a PE ratio of 43.19, a P/E/G ratio of 2.65 and a beta of 2.50. The stock has a 50-day simple moving average of $323.21 and a 200-day simple moving average of $350.91. RH has a 12 month low of $138.65 and a 12 month high of $457.26.
RH (NYSE:RH - Get Free Report) last posted its quarterly earnings results on Wednesday, April 2nd. The company reported $1.58 EPS for the quarter, missing analysts' consensus estimates of $1.91 by ($0.33). The business had revenue of $812.41 million during the quarter, compared to analysts' expectations of $828.21 million. RH had a negative return on equity of 35.72% and a net margin of 2.25%. The firm's revenue for the quarter was up 10.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.72 earnings per share. On average, equities analysts anticipate that RH will post 4.39 earnings per share for the current year.
Insider Transactions at RH
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In other news, CAO Christina Hargarten sold 5,280 shares of the company's stock in a transaction dated Friday, January 17th. The stock was sold at an average price of $447.20, for a total value of $2,361,216.00. Following the sale, the chief accounting officer now owns 484 shares in the company, valued at $216,444.80. This represents a 91.60 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Edward T. Lee sold 600 shares of RH stock in a transaction that occurred on Friday, January 17th. The shares were sold at an average price of $446.73, for a total value of $268,038.00. The disclosure for this sale can be found here. Insiders sold a total of 66,380 shares of company stock worth $28,922,379 over the last three months. 28.10% of the stock is currently owned by insiders.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Versant Capital Management Inc increased its stake in shares of RH by 7,000.0% in the 4th quarter. Versant Capital Management Inc now owns 71 shares of the company's stock valued at $28,000 after purchasing an additional 70 shares in the last quarter. UMB Bank n.a. raised its stake in shares of RH by 125.8% during the 4th quarter. UMB Bank n.a. now owns 70 shares of the company's stock worth $28,000 after buying an additional 39 shares during the period. GAMMA Investing LLC grew its stake in RH by 533.3% in the 4th quarter. GAMMA Investing LLC now owns 76 shares of the company's stock valued at $30,000 after acquiring an additional 64 shares during the period. Sunbelt Securities Inc. increased its holdings in RH by 690.0% in the 4th quarter. Sunbelt Securities Inc. now owns 79 shares of the company's stock worth $31,000 after acquiring an additional 69 shares in the last quarter. Finally, Rakuten Securities Inc. lifted its holdings in RH by 180.0% during the fourth quarter. Rakuten Securities Inc. now owns 112 shares of the company's stock valued at $44,000 after purchasing an additional 72 shares in the last quarter. Hedge funds and other institutional investors own 90.17% of the company's stock.
RH Company Profile
(Get Free Report)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.
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