RH (NYSE:RH) Price Target Cut to $338.00 by Analysts at JPMorgan Chase & Co.

RH (NYSE:RH) had its price objective cut by JPMorgan Chase & Co. from $345.00 to $338.00 in a research report released on Monday morning, Benzinga reports. The brokerage currently has an overweight rating on the stock.

Several other equities analysts have also commented on the stock. Morgan Stanley upped their price target on shares of RH from $300.00 to $310.00 and gave the stock an equal weight rating in a research report on Friday, September 13th. Wells Fargo & Company upped their target price on shares of RH from $325.00 to $350.00 and gave the stock an overweight rating in a research report on Friday, September 13th. Citigroup lifted their price target on RH from $340.00 to $355.00 and gave the company a buy rating in a report on Friday, September 13th. Telsey Advisory Group reiterated a market perform rating and set a $290.00 price objective on shares of RH in a research report on Tuesday, September 10th. Finally, Robert W. Baird raised their target price on RH from $275.00 to $290.00 and gave the company a neutral rating in a research report on Friday, September 13th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, RH presently has a consensus rating of Hold and a consensus target price of $322.54.

RH Stock Up 1.3 %

Shares of RH stock opened at $335.15 on Monday. The company has a market cap of $6.18 billion, a P/E ratio of 92.84, a PEG ratio of 1.13 and a beta of 2.42. The business has a 50 day moving average of $268.99 and a two-hundred day moving average of $267.58. RH has a 52 week low of $207.26 and a 52 week high of $354.86.

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

Insider Activity at RH

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

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in RH. Creekmur Asset Management LLC acquired a new position in shares of RH in the 4th quarter valued at $25,000. Quest Partners LLC purchased a new stake in RH during the fourth quarter valued at about $37,000. Hollencrest Capital Management acquired a new position in shares of RH in the first quarter worth about $47,000. Ridgewood Investments LLC purchased a new position in shares of RH in the second quarter worth approximately $62,000. Finally, Tradition Wealth Management LLC raised its holdings in shares of RH by 14.8% during the fourth quarter. Tradition Wealth Management LLC now owns 350 shares of the company’s stock valued at $102,000 after acquiring an additional 45 shares during the period. 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.