Richelieu Hardware (TSE:RCH) Stock Price Passes Above Two Hundred Day Moving Average - Here's Why

Key Points

• Passed above its 200-day moving average: Richelieu's shares traded as high as C$40.57, exceeding the 200-day MA of C$40.27 with about 50,930 shares changing hands, signaling a potential technical breakout.
• Analyst view — Hold: CIBC lifted its target from C$37 to C$40 and the consensus rating is a Hold with a consensus target of C$40.25.
• Company fundamentals and payout: Richelieu reported quarterly EPS of C$0.26 on C$463.57M revenue and declared a quarterly dividend of C$0.1566 (annualized C$0.63, yield 1.6%; ex-dividend Apr 23, pay May 7).

Richelieu Hardware Ltd. (TSE:RCH - Get Free Report)'s share price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$40.27 and traded as high as C$40.57. Richelieu Hardware shares last traded at C$39.94, with a volume of 50,930 shares trading hands.

Analysts Set New Price Targets

Separately, Canadian Imperial Bank of Commerce upped their price objective on shares of Richelieu Hardware from C$37.00 to C$40.00 in a research report on Monday, January 19th. One equities research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of C$40.25.

Richelieu Hardware Stock Down 0.6%

The stock has a market capitalization of C$2.20 billion, a price-to-earnings ratio of 25.60, a PEG ratio of 0.77 and a beta of 0.78. The company has a debt-to-equity ratio of 29.06, a current ratio of 3.21 and a quick ratio of 0.72. The business has a fifty day moving average of C$41.46 and a 200 day moving average of C$40.27.

Richelieu Hardware (TSE:RCH - Get Free Report) last released its quarterly earnings results on Thursday, April 9th. The company reported C$0.26 earnings per share for the quarter. The business had revenue of C$463.57 million during the quarter. Richelieu Hardware had a return on equity of 9.04% and a net margin of 4.35%.

Richelieu Hardware Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 7th. Shareholders of record on Thursday, May 7th will be paid a dividend of $0.1566 per share. This represents a $0.63 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date is Thursday, April 23rd. Richelieu Hardware's dividend payout ratio is 39.52%.

Insider Buying and Selling at Richelieu Hardware

In other news, insider Antoine Auclair acquired 2,500 shares of the business's stock in a transaction that occurred on Friday, January 30th. The shares were purchased at an average price of C$40.39 per share, for a total transaction of C$100,975.00. Following the acquisition, the insider owned 8,597 shares of the company's stock, valued at C$347,232.83. This represents a 41.00% increase in their ownership of the stock. Also, Director Marc Poulin sold 3,000 shares of the stock in a transaction dated Thursday, February 12th. The stock was sold at an average price of C$42.78, for a total value of C$128,340.00. Following the transaction, the director directly owned 15,000 shares in the company, valued at approximately C$641,700. The trade was a 16.67% decrease in their position. 7.62% of the stock is currently owned by insiders.

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. 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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