Morgan Stanley Cuts RH (NYSE:RH) Price Target to $300.00

RH (NYSE:RH) had its target price lowered by Morgan Stanley from $530.00 to $300.00 in a research note issued on Thursday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Morgan Stanley’s price target indicates a potential upside of 106.37% from the stock’s previous close.

RH has been the subject of a number of other research reports. Wells Fargo & Company lowered their target price on shares of RH from $500.00 to $375.00 and set an “overweight” rating for the company in a report on Tuesday, March 18th. Loop Capital boosted their price objective on shares of RH from $320.00 to $450.00 and gave the company a “hold” rating in a report on Monday, December 16th. UBS Group reduced their price target on shares of RH from $440.00 to $250.00 and set a “neutral” rating on the stock in a research report on Friday, March 21st. Robert W. Baird lowered their price objective on shares of RH from $400.00 to $215.00 and set a “neutral” rating for the company in a research report on Thursday. Finally, Wedbush dropped their price objective on RH from $500.00 to $350.00 and set an “outperform” rating on the stock in a research note on Wednesday, March 26th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and nine have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $293.81.

RH Price Performance

RH stock opened at $145.37 on Thursday. The company has a 50 day moving average price of $312.06 and a 200 day moving average price of $348.23. RH has a fifty-two week low of $123.03 and a fifty-two week high of $457.26. The stock has a market capitalization of $2.70 billion, a PE ratio of 41.77, a price-to-earnings-growth ratio of 2.65 and a beta of 2.44.

RH (NYSE:RH) last released its earnings results on Wednesday, April 2nd. The company reported $1.58 earnings per share for the quarter, missing analysts’ consensus estimates of $1.91 by ($0.33). The firm had revenue of $812.41 million for the quarter, compared to the consensus estimate of $828.21 million. RH had a negative return on equity of 35.72% and a net margin of 2.25%. The company’s revenue was up 10.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.72 EPS. As a group, equities analysts expect that RH will post 4.39 earnings per share for the current fiscal year.

Insider Activity at RH

In other news, insider Eri Chaya sold 10,000 shares of the stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $416.27, for a total transaction of $4,162,700.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Christina Hargarten sold 5,280 shares of RH stock in a transaction dated 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 completion of the sale, the chief accounting officer now directly owns 484 shares in the company, valued at approximately $216,444.80. This represents a 91.60 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 66,380 shares of company stock valued at $28,922,379. 28.10% of the stock is owned by insiders.

Institutional Investors Weigh In On RH

Several large investors have recently made changes to their positions in the stock. Wellington Management Group LLP increased its holdings in RH by 14.0% during the fourth quarter. Wellington Management Group LLP now owns 44,880 shares of the company’s stock worth $17,664,000 after buying an additional 5,506 shares during the last quarter. 111 Capital acquired a new position in shares of RH during the 4th quarter worth about $211,000. PKO Investment Management Joint Stock Co bought a new stake in shares of RH in the 4th quarter valued at about $590,000. Copia Wealth Management acquired a new stake in RH in the 4th quarter valued at about $106,000. Finally, Polar Asset Management Partners Inc. grew its holdings in RH by 321.4% during the fourth quarter. Polar Asset Management Partners Inc. now owns 17,700 shares of the company’s stock worth $6,967,000 after purchasing an additional 13,500 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.