RH (NYSE:RH) Stock Price Up 6.5% – Still a Buy?

RH (NYSE:RH) shares were up 6.5% during mid-day trading on Wednesday . The stock traded as high as $195.19 and last traded at $194.63. Approximately 713,083 shares were traded during trading, a decline of 31% from the average daily volume of 1,031,322 shares. The stock had previously closed at $182.69.

Analysts Set New Price Targets

RH has been the topic of a number of recent analyst reports. Stifel Nicolaus cut their price target on shares of RH from $450.00 to $390.00 and set a “buy” rating on the stock in a research note on Monday, April 7th. Wedbush cut their price target on shares of RH from $500.00 to $350.00 and set an “outperform” rating on the stock in a report on Wednesday, March 26th. JPMorgan Chase & Co. dropped their price objective on shares of RH from $510.00 to $250.00 and set an “overweight” rating on the stock in a report on Monday, April 14th. Morgan Stanley reduced their target price on shares of RH from $530.00 to $300.00 and set an “overweight” rating for the company in a report on Thursday, April 3rd. Finally, Guggenheim cut their price target on RH from $500.00 to $300.00 and set a “buy” rating on the stock in a research report on Thursday, April 3rd. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $272.50.

RH Stock Performance

The firm has a market capitalization of $3.55 billion, a PE ratio of 44.97, a price-to-earnings-growth ratio of 0.54 and a beta of 2.19. The firm’s 50 day moving average price is $185.40 and its 200-day moving average price is $288.37.

RH (NYSE:RH) last issued its quarterly earnings results on Thursday, June 12th. The company reported $0.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.20. RH had a negative return on equity of 67.71% and a net margin of 2.57%. The company had revenue of $813.95 million for the quarter, compared to the consensus estimate of $817.66 million. During the same quarter in the prior year, the business posted ($0.40) earnings per share. RH’s revenue for the quarter was up 12.0% on a year-over-year basis. On average, equities research analysts expect that RH will post 4.39 earnings per share for the current fiscal year.

Institutional Investors Weigh In On RH

A number of institutional investors have recently added to or reduced their stakes in RH. CIBC Asset Management Inc acquired a new stake in shares of RH in the fourth quarter valued at about $219,000. Truist Financial Corp purchased a new position in RH in the 4th quarter valued at about $227,000. Alberta Investment Management Corp acquired a new stake in RH in the 4th quarter worth about $3,875,000. Private Advisor Group LLC acquired a new position in shares of RH during the 4th quarter worth approximately $267,000. Finally, Prakash Investment Advisors LLC acquired a new stake in shares of RH in the 4th quarter worth $512,000. Institutional investors and hedge funds own 90.17% of the company’s stock.

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.