Bank of America Has Lowered Expectations for RH (NYSE:RH) Stock Price

RH (NYSE:RH) had its target price dropped by equities researchers at Bank of America from $510.00 to $410.00 in a research report issued on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Bank of America‘s price objective would suggest a potential upside of 68.16% from the company’s previous close.

Several other equities analysts have also issued reports on the stock. StockNews.com lowered shares of RH from a “hold” rating to a “sell” rating in a report on Wednesday, March 19th. Wedbush reduced their price target on shares of RH from $500.00 to $350.00 and set an “outperform” rating for the company in a research report on Wednesday. Guggenheim decreased their target price on RH from $550.00 to $500.00 and set a “buy” rating for the company in a research report on Wednesday. Loop Capital boosted their target price on shares of RH from $320.00 to $450.00 and gave the company a “hold” rating in a research note on Monday, December 16th. Finally, Wells Fargo & Company lowered their price objective on shares of RH from $500.00 to $375.00 and set an “overweight” rating on the stock in a research note on Tuesday, March 18th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $403.25.

RH Price Performance

RH stock traded down $9.09 during midday trading on Wednesday, hitting $243.82. The stock had a trading volume of 87,348 shares, compared to its average volume of 729,652. The business has a 50-day moving average of $347.25 and a two-hundred day moving average of $352.43. The firm has a market cap of $4.54 billion, a price-to-earnings ratio of 70.04, a price-to-earnings-growth ratio of 2.65 and a beta of 2.50. RH has a 52-week low of $212.04 and a 52-week high of $457.26.

Insider Buying and Selling at RH

In related news, insider Eri Chaya sold 25,000 shares of the business’s stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $450.45, for a total transaction of $11,261,250.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Keith Belling sold 500 shares of the stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $417.85, for a total value of $208,925.00. Following the sale, the director now directly owns 4,970 shares in the company, valued at $2,076,714.50. This represents a 9.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 66,380 shares of company stock worth $28,922,379. 28.10% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of RH. Alliancebernstein L.P. increased its holdings in shares of RH by 1,960.8% during the 4th quarter. Alliancebernstein L.P. now owns 363,698 shares of the company’s stock valued at $143,148,000 after purchasing an additional 346,050 shares in the last quarter. Norges Bank purchased a new position in shares of RH in the 4th quarter valued at about $54,314,000. Raymond James Financial Inc. acquired a new stake in RH in the fourth quarter valued at approximately $52,190,000. Freestone Grove Partners LP acquired a new position in shares of RH during the 4th quarter worth approximately $44,744,000. Finally, American Century Companies Inc. raised its stake in shares of RH by 2,227.7% during the 4th quarter. American Century Companies Inc. now owns 105,701 shares of the company’s stock worth $41,603,000 after buying an additional 101,160 shares during the period. 90.17% of the stock is currently owned by hedge funds and other institutional investors.

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.