Wells Fargo & Company Cuts RH (NYSE:RH) Price Target to $300.00

RH (NYSE:RH) had its target price cut by Wells Fargo & Company from $375.00 to $300.00 in a research note issued to investors on Thursday morning,Benzinga reports. They currently have an overweight rating on the stock.

A number of other brokerages have also recently weighed in on RH. Barclays decreased their price objective on RH from $515.00 to $436.00 and set an “overweight” rating for the company in a research note on Thursday. Wedbush lowered their price target on shares of RH from $500.00 to $350.00 and set an “outperform” rating on the stock in a report on Wednesday, March 26th. Stifel Nicolaus decreased their target price on shares of RH from $500.00 to $450.00 and set a “buy” rating for the company in a research report on Monday, March 31st. Telsey Advisory Group cut their price target on shares of RH from $420.00 to $280.00 and set an “outperform” rating on the stock in a report on Thursday. Finally, Morgan Stanley decreased their price objective on RH from $530.00 to $300.00 and set an “overweight” rating for the company in a report on Thursday. Three analysts have rated the stock with a sell rating, five have issued a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $293.81.

RH Price Performance

Shares of RH opened at $145.37 on Thursday. The firm has a market capitalization of $2.70 billion, a price-to-earnings ratio of 41.77, a PEG ratio of 2.65 and a beta of 2.44. The company has a 50-day moving average of $312.06 and a 200 day moving average of $348.35. RH has a 1-year low of $123.03 and a 1-year high of $457.26.

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

Insider Activity

In other RH news, Director Keith Belling sold 500 shares of the stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $417.85, for a total transaction of $208,925.00. Following the transaction, the director now owns 4,970 shares in the company, valued at approximately $2,076,714.50. This represents a 9.14 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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 value of $11,261,250.00. The disclosure for this sale can be found here. Insiders sold a total of 66,380 shares of company stock valued at $28,922,379 in the last three months. 28.10% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On RH

Institutional investors have recently added to or reduced their stakes in the stock. Alliancebernstein L.P. lifted its holdings in RH by 1,960.8% during the fourth quarter. Alliancebernstein L.P. now owns 363,698 shares of the company’s stock valued at $143,148,000 after purchasing an additional 346,050 shares in the last quarter. Norges Bank purchased a new position in RH in the 4th quarter valued at about $54,314,000. Raymond James Financial Inc. acquired a new stake in RH in the 4th quarter worth about $52,190,000. Freestone Grove Partners LP purchased a new stake in RH during the 4th quarter worth approximately $44,744,000. Finally, American Century Companies Inc. raised its holdings in shares of RH by 2,227.7% during the fourth quarter. American Century Companies Inc. now owns 105,701 shares of the company’s stock valued at $41,603,000 after acquiring an additional 101,160 shares during the last quarter. 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.