RH (NYSE:RH - Get Free Report) announced its quarterly earnings results on Wednesday. The company reported $0.72 EPS for the quarter, missing the consensus estimate of $1.71 by ($0.99), Briefing.com reports. The company had revenue of $738.26 million during the quarter, compared to analysts' expectations of $777.50 million. RH had a return on equity of 81.84% and a net margin of 7.28%. The firm's revenue for the quarter was down 4.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.88 EPS. RH updated its FY 2024 guidance to EPS.
RH Trading Up 17.2 %
RH stock traded up $51.00 on Thursday, hitting $347.99. The company's stock had a trading volume of 4,868,122 shares, compared to its average volume of 616,431. The stock has a market cap of $6.40 billion, a price-to-earnings ratio of 37.78, a price-to-earnings-growth ratio of 2.85 and a beta of 2.43. RH has a 1 year low of $207.26 and a 1 year high of $406.38. The firm has a 50 day moving average of $273.49 and a two-hundred day moving average of $268.20.
Analyst Upgrades and Downgrades
A number of research firms have recently issued reports on RH. Morgan Stanley dropped their price objective on shares of RH from $340.00 to $290.00 and set an "equal weight" rating on the stock in a research note on Friday, December 8th. Telsey Advisory Group restated a "market perform" rating and set a $335.00 price target (up previously from $285.00) on shares of RH in a research report on Tuesday. Wells Fargo & Company raised their price target on shares of RH from $350.00 to $360.00 and gave the company an "overweight" rating in a research report on Thursday. JPMorgan Chase & Co. raised their price target on shares of RH from $329.00 to $345.00 and gave the company an "overweight" rating in a research report on Thursday. Finally, TD Cowen dropped their target price on shares of RH from $350.00 to $325.00 and set an "outperform" rating on the stock in a research report on Friday, December 8th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the company. According to MarketBeat.com, RH has an average rating of "Hold" and an average target price of $322.07.
Read Our Latest Report on RH
Insiders Place Their Bets
In other RH news, insider Edward T. Lee sold 2,624 shares of the company's stock in a transaction on Thursday, January 4th. The shares were sold at an average price of $264.50, for a total transaction of $694,048.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 23.90% of the stock is owned by insiders.
Hedge Funds Weigh In On RH
Institutional investors and hedge funds have recently made changes to their positions in the stock. Kayne Anderson Rudnick Investment Management LLC acquired a new stake in RH in the 3rd quarter valued at about $30,000. KB Financial Partners LLC grew its stake in RH by 61.6% in the 1st quarter. KB Financial Partners LLC now owns 118 shares of the company's stock valued at $38,000 after acquiring an additional 45 shares during the last quarter. Money Concepts Capital Corp grew its stake in RH by 51.7% in the 4th quarter. Money Concepts Capital Corp now owns 217 shares of the company's stock valued at $58,000 after acquiring an additional 74 shares during the last quarter. ICA Group Wealth Management LLC acquired a new stake in RH in the 4th quarter valued at about $71,000. Finally, KBC Group NV acquired a new stake in RH in the 4th quarter valued at about $105,000. 90.17% of the stock is owned by institutional investors and hedge funds.
RH Company Profile
(
Get Free Report)
RH, together with its subsidiaries, operates as a retailer in the home furnishings and operates under RH Galleries and RH brand names in the District of Columbia and Canada, as well as Waterworks showrooms throughout the United States and the United Kingdom. It offers products in various categories, including furniture, lighting, textiles, bathware, décor, outdoor and garden, and child and teen furnishings.
Recommended Stories
Before you consider RH, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and RH wasn't on the list.
While RH currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Click the link below and we'll send you MarketBeat's list of seven stocks and why their long-term outlooks are very promising.
Get This Free Report
