Richelieu Hardware (TSE:RCH) Shares Pass Below 200 Day Moving Average of $38.94

Richelieu Hardware Ltd. (TSE:RCHGet Rating) passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$38.94 and traded as low as C$35.43. Richelieu Hardware shares last traded at C$36.40, with a volume of 68,141 shares traded.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. CIBC upgraded shares of Richelieu Hardware from a “neutral” rating to a “buy” rating and set a C$47.00 price objective for the company in a research note on Thursday, May 26th. TD Securities upgraded Richelieu Hardware from a “hold” rating to a “buy” rating and boosted their target price for the stock from C$44.00 to C$45.00 in a research report on Friday, July 8th.

Richelieu Hardware Price Performance

The company has a quick ratio of 0.88, a current ratio of 2.83 and a debt-to-equity ratio of 25.59. The firm has a market capitalization of C$2.03 billion and a price-to-earnings ratio of 12.77. The company’s 50 day moving average is C$36.74 and its 200 day moving average is C$38.88.

Richelieu Hardware (TSE:RCHGet Rating) last issued its quarterly earnings data on Thursday, July 7th. The company reported C$0.83 earnings per share for the quarter, topping analysts’ consensus estimates of C$0.78 by C$0.05. The firm had revenue of C$487.94 million for the quarter, compared to the consensus estimate of C$472.40 million. On average, equities research analysts anticipate that Richelieu Hardware Ltd. will post 2.3900001 earnings per share for the current fiscal year.

Richelieu Hardware Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 4th. Stockholders of record on Thursday, July 21st were given a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 1.43%. The ex-dividend date was Wednesday, July 20th. Richelieu Hardware’s payout ratio is presently 11.58%.

Insider Activity

In other Richelieu Hardware news, Director Lucie Chabot acquired 1,250 shares of Richelieu Hardware stock in a transaction that occurred on Tuesday, July 12th. The stock was acquired at an average cost of C$36.55 per share, for a total transaction of C$45,687.50. Following the purchase, the director now owns 1,250 shares of the company’s stock, valued at C$45,687.50.

About Richelieu Hardware

(Get Rating)

Richelieu Hardware Ltd. manufactures, imports, and distributes specialty hardware and complementary products in North America. The company's principal product categories include furniture, glass and building decorative and functional hardware, lighting systems, finishing and decorating products, ergonomic workstation components, kitchen and closet storage solutions, sliding door systems, decorative and functional panels, high-pressure laminates, railing and balusters, and floor protection products, as well as accessories for power tools.

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