Richelieu Hardware (TSE:RCH) Share Price Passes Above Two Hundred Day Moving Average - What's Next?

Key Points

• Richelieu Hardware's stock price crossed above its 200-day moving average of C$34.81, trading as high as C$35.93 before closing at C$35.27.
• National Bankshares reduced their price target for Richelieu Hardware from C$37.50 to C$37.00, maintaining a "sector perform" rating for the stock.
• The company declared a quarterly dividend of $0.1533 per share, resulting in an annualized yield of 1.7% and a payout ratio of 40.44%.

Richelieu Hardware Ltd. (TSE:RCH - Get Free Report)'s stock price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$34.81 and traded as high as C$35.93. Richelieu Hardware shares last traded at C$35.27, with a volume of 68,265 shares trading hands.

Wall Street Analyst Weigh In

Separately, National Bankshares dropped their target price on Richelieu Hardware from C$37.50 to C$37.00 and set a "sector perform" rating on the stock in a report on Thursday, June 26th. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of C$37.50.

Richelieu Hardware Stock Down 1.4%

The firm has a market cap of C$1.93 billion, a price-to-earnings ratio of 23.24, a price-to-earnings-growth ratio of 0.77 and a beta of 0.71. The company has a current ratio of 3.46, a quick ratio of 0.72 and a debt-to-equity ratio of 26.37. The stock has a 50-day moving average of C$35.67 and a 200-day moving average of C$34.80.

Richelieu Hardware Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 7th. Investors of record on Thursday, August 7th were given a dividend of $0.1533 per share. The ex-dividend date was Thursday, July 24th. This represents a $0.61 dividend on an annualized basis and a yield of 1.8%. Richelieu Hardware's payout ratio is currently 40.44%.

About Richelieu Hardware

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.