CIBC Asset Management Inc Invests $219,000 in RH (NYSE:RH)

CIBC Asset Management Inc acquired a new position in shares of RH (NYSE:RH) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm acquired 556 shares of the company’s stock, valued at approximately $219,000.

Several other institutional investors also recently bought and sold shares of the company. Blue Trust Inc. increased its holdings in shares of RH by 308.3% in the 3rd quarter. Blue Trust Inc. now owns 98 shares of the company’s stock valued at $33,000 after acquiring an additional 74 shares during the period. Raymond James & Associates increased its stake in shares of RH by 1.7% in the third quarter. Raymond James & Associates now owns 13,083 shares of the company’s stock worth $4,375,000 after acquiring an additional 219 shares during the period. International Assets Investment Management LLC lifted its position in RH by 979.0% during the third quarter. International Assets Investment Management LLC now owns 669 shares of the company’s stock valued at $224,000 after purchasing an additional 607 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its position in RH by 11.7% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,904 shares of the company’s stock valued at $1,665,000 after purchasing an additional 513 shares during the period. Finally, Wealth Enhancement Advisory Services LLC raised its position in shares of RH by 13.3% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 944 shares of the company’s stock worth $316,000 after acquiring an additional 111 shares during the period. 90.17% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have recently commented on RH. Guggenheim boosted their target price on shares of RH from $425.00 to $550.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. BNP Paribas reissued an “underperform” rating and issued a $253.00 price target on shares of RH in a research note on Wednesday, November 13th. Telsey Advisory Group upgraded shares of RH from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from $485.00 to $500.00 in a report on Thursday, December 19th. Wells Fargo & Company increased their target price on shares of RH from $425.00 to $500.00 and gave the stock an “overweight” rating in a report on Friday, December 13th. Finally, Loop Capital increased their target price on shares of RH from $320.00 to $450.00 and gave the stock a “hold” rating in a report on Monday, December 16th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $431.60.

RH Stock Performance

RH stock opened at $348.73 on Wednesday. RH has a one year low of $212.43 and a one year high of $457.26. The stock has a market capitalization of $6.49 billion, a PE ratio of 100.21, a price-to-earnings-growth ratio of 2.65 and a beta of 2.42. The company has a fifty day moving average of $405.37 and a 200-day moving average of $351.63.

RH (NYSE:RH) last announced its quarterly earnings data on Thursday, December 12th. The company reported $2.48 EPS for the quarter, missing the consensus estimate of $2.67 by ($0.19). RH had a net margin of 2.25% and a negative return on equity of 35.72%. The company had revenue of $811.73 million during the quarter, compared to analyst estimates of $812.19 million. During the same quarter last year, the business earned ($0.42) EPS. The firm’s revenue for the quarter was up 8.1% on a year-over-year basis. Equities analysts forecast that RH will post 4.39 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Keith Belling sold 500 shares of the business’s stock in a transaction that occurred on Tuesday, December 17th. The shares were sold at an average price of $415.00, for a total value of $207,500.00. Following the completion of the sale, the director now directly owns 5,470 shares in the company, valued at approximately $2,270,050. The trade was a 8.38 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Eri Chaya sold 25,000 shares of the business’s stock in a transaction that occurred 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 disclosure for this sale can be found here. Over the last quarter, insiders sold 66,880 shares of company stock worth $29,129,879. Insiders own 28.10% of the company’s stock.

RH 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.