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

by · The Cerbat Gem

RH (NYSE:RH – Free Report) had its price objective lowered by Morgan Stanley from $530.00 to $300.00 in a research report released on Thursday morning,Benzinga reports. Morgan Stanley currently has an overweight rating on the stock.

RH has been the topic of a number of other research reports. Bank of America reduced their target price on RH from $510.00 to $410.00 and set a “buy” rating on the stock in a report on Wednesday, March 26th. Loop Capital upped their price target on RH from $320.00 to $450.00 and gave the stock a “hold” rating in a research note on Monday, December 16th. Barclays raised RH from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $383.00 to $515.00 in a research report on Wednesday, January 8th. Wedbush reduced their target price on shares of RH from $500.00 to $350.00 and set an “outperform” rating on the stock in a research report on Wednesday, March 26th. Finally, Robert W. Baird decreased their price target on shares of RH from $400.00 to $215.00 and set a “neutral” rating for the company in a research note on Thursday. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, RH has a consensus rating of “Hold” and an average price target of $310.06.

View Our Latest Report on RH

RH Stock Down 39.9 %

Shares of RH stock opened at $149.95 on Thursday. The business has a 50 day moving average of $317.51 and a 200 day moving average of $349.51. RH has a 52 week low of $138.40 and a 52 week high of $457.26. The company has a market cap of $2.79 billion, a PE ratio of 43.09, a P/E/G ratio of 2.65 and a beta of 2.44.

RH (NYSE:RH – Get Free Report) last issued 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). The company had revenue of $812.41 million during 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 firm’s revenue for the quarter was up 10.0% compared to the same quarter last year. During the same quarter last year, the company posted $0.72 earnings per share. On average, research analysts anticipate that RH will post 4.39 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Eri Chaya sold 10,000 shares of the firm’s 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 sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CAO Christina Hargarten sold 5,280 shares of RH stock in a transaction that occurred on Friday, January 17th. The stock was sold at an average price of $447.20, for a total transaction of $2,361,216.00. Following the completion of the sale, the chief accounting officer now owns 484 shares of the company’s stock, valued at $216,444.80. This represents a 91.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 66,380 shares of company stock worth $28,922,379 in the last three months. Insiders own 28.10% of the company’s stock.

Institutional Investors Weigh In On RH

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Virtu Financial LLC bought a new position in shares of RH during the 3rd quarter valued at $4,268,000. Invst LLC bought a new position in RH in the third quarter valued at about $752,000. Cerity Partners LLC grew its stake in shares of RH by 139.7% during the 3rd quarter. Cerity Partners LLC now owns 2,584 shares of the company’s stock valued at $864,000 after purchasing an additional 1,506 shares during the period. Victory Capital Management Inc. increased its position in shares of RH by 0.9% during the 4th quarter. Victory Capital Management Inc. now owns 50,684 shares of the company’s stock valued at $19,949,000 after purchasing an additional 445 shares during the last quarter. Finally, L.M. Kohn & Company bought a new position in shares of RH in the 4th quarter worth approximately $289,000. Hedge funds and other institutional investors own 90.17% of the company’s stock.

RH Company Profile

(Get Free Report)

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.

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