Bank of America Lowers RH (NYSE:RH) Price Target to $410.00

RH (NYSE:RH) had its target price reduced by analysts at Bank of America from $510.00 to $410.00 in a note issued to investors on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the stock. Bank of America‘s price target suggests a potential upside of 67.81% from the stock’s previous close.

Several other research firms have also issued reports on RH. Robert W. Baird boosted their target price on shares of RH from $300.00 to $400.00 and gave the company a “neutral” rating in a report on Friday, December 13th. Wedbush lowered their price objective on RH from $500.00 to $350.00 and set an “outperform” rating for the company in a research report on Wednesday. UBS Group cut their target price on RH from $440.00 to $250.00 and set a “neutral” rating on the stock in a research report on Friday, March 21st. Citigroup decreased their target price on RH from $556.00 to $437.00 and set a “buy” rating for the company in a research note on Monday. Finally, Telsey Advisory Group dropped their price target on RH from $500.00 to $420.00 and set an “outperform” rating on the stock in a research note on Monday. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $403.25.

RH Stock Performance

RH stock opened at $244.33 on Wednesday. The firm has a market cap of $4.55 billion, a price-to-earnings ratio of 70.21, a PEG 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. The firm has a 50 day moving average price of $339.83 and a two-hundred day moving average price of $350.92.

Insider Buying and Selling at RH

In other news, insider Eri Chaya sold 25,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $450.45, for a total value of $11,261,250.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CAO Christina Hargarten sold 5,280 shares of RH stock in a transaction that occurred on Friday, January 17th. The shares were sold at an average price of $447.20, for a total value of $2,361,216.00. Following the transaction, the chief accounting officer now directly owns 484 shares in the company, valued at approximately $216,444.80. The trade was a 91.60 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 66,380 shares of company stock worth $28,922,379. 28.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On RH

Hedge funds have recently bought and sold shares of the company. UMB Bank n.a. raised its holdings in shares of RH by 125.8% in the fourth quarter. UMB Bank n.a. now owns 70 shares of the company’s stock valued at $28,000 after purchasing an additional 39 shares during the last quarter. Versant Capital Management Inc grew its position in RH by 7,000.0% in the 4th quarter. Versant Capital Management Inc now owns 71 shares of the company’s stock worth $28,000 after purchasing an additional 70 shares in the last quarter. GAMMA Investing LLC grew its position in RH by 533.3% in the 4th quarter. GAMMA Investing LLC now owns 76 shares of the company’s stock worth $30,000 after purchasing an additional 64 shares in the last quarter. Sunbelt Securities Inc. increased its stake in RH by 690.0% in the 4th quarter. Sunbelt Securities Inc. now owns 79 shares of the company’s stock valued at $31,000 after buying an additional 69 shares during the last quarter. Finally, Rakuten Securities Inc. lifted its position in shares of RH by 180.0% during the 4th quarter. Rakuten Securities Inc. now owns 112 shares of the company’s stock worth $44,000 after buying an additional 72 shares in the last quarter. 90.17% of the stock is 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.