Richelieu Hardware (TSE:RCH) Shares Pass Below 200-Day Moving Average - Here's Why

Key Points

• Richelieu Hardware shares fell below their 200-day moving average of C$38.92, reaching as low as C$35.18 and closing at C$35.52.
• Analysts recently cut their price targets to C$39.00 and C$38.00, respectively. The stock carries a consensus “Hold” rating and an average target of C$38.50.
• The company reported quarterly EPS of C$0.42 on revenue of C$532.05 million and pays an annualized dividend of C$0.63, yielding about 1.8%.

Richelieu Hardware Ltd. (TSE:RCH - Get Free Report)'s share price crossed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$38.92 and traded as low as C$35.18. Richelieu Hardware shares last traded at C$35.52, with a volume of 101,931 shares traded.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on RCH shares. Canadian Imperial Bank of Commerce reduced their price objective on Richelieu Hardware from C$42.00 to C$39.00 in a research report on Monday, July 13th. National Bank Financial reduced their target price on shares of Richelieu Hardware from C$41.00 to C$38.00 and set a "sector perform" rating on the stock in a report on Monday, July 13th. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat, Richelieu Hardware currently has a consensus rating of "Hold" and an average target price of C$38.50.

Richelieu Hardware Trading Down 0.7%

The company has a quick ratio of 0.71, a current ratio of 3.04 and a debt-to-equity ratio of 31.32. The business has a 50 day moving average price of C$36.17 and a 200-day moving average price of C$38.92. The firm has a market cap of C$1.95 billion, a price-to-earnings ratio of 22.62, a price-to-earnings-growth ratio of 0.77 and a beta of 0.95.

Richelieu Hardware (TSE:RCH - Get Free Report) last posted its earnings results on Thursday, July 9th. The company reported C$0.42 EPS for the quarter. The business had revenue of C$532.05 million for the quarter. Richelieu Hardware had a net margin of 4.34% and a return on equity of 9.04%.

Richelieu Hardware Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 7th. Investors of record on Friday, August 7th were paid a $0.1566 dividend. This represents a $0.63 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date was Thursday, July 23rd. Richelieu Hardware's payout ratio is 39.48%.

Richelieu Hardware Company Profile

Richelieu Hardware Ltd is a Canada-based company that imports, manufactures, and distributes specialty hardware and complementary products. Headquartered in Montreal, the company operates across Canada and the eastern and midwestern regions of the United States. The majority of the company's sales are derived from its operations in Canada. Richelieu's products include furniture, glass, decorative, window, and door hardware, lighting systems, and kitchen and closet storage. The firm primarily serves home furnishing manufacturers, residential and commercial woodworkers, hardware retailers, and renovation superstores.

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