RH (NYSE:RH) Shares Gap Down on Analyst Downgrade

RH (NYSE:RH)’s stock price gapped down before the market opened on Tuesday after Wells Fargo & Company lowered their price target on the stock from $500.00 to $375.00. The stock had previously closed at $225.32, but opened at $217.37. Wells Fargo & Company currently has an overweight rating on the stock. RH shares last traded at $221.96, with a volume of 56,577 shares.

A number of other brokerages have also recently issued reports on RH. The Goldman Sachs Group raised shares of RH from a “sell” rating to a “neutral” rating and upped their target price for the company from $261.00 to $374.00 in a report on Thursday, January 30th. Morgan Stanley raised shares of RH from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $435.00 to $530.00 in a report on Monday, January 13th. StockNews.com raised shares of RH from a “sell” rating to a “hold” rating in a report on Tuesday, March 11th. Wedbush reaffirmed an “outperform” rating and issued a $500.00 target price on shares of RH in a report on Tuesday, February 18th. Finally, Guggenheim upped their target price on shares of RH from $425.00 to $550.00 and gave the company a “buy” rating in a report on Friday, December 13th. One research analyst has rated the stock with a sell rating, five have given a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, RH has a consensus rating of “Moderate Buy” and a consensus target price of $423.27.

Insiders Place Their Bets

In related news, Director Keith Belling sold 500 shares of the stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $417.85, for a total value of $208,925.00. Following the completion of the transaction, the director now owns 4,970 shares of the company’s stock, valued at $2,076,714.50. This represents a 9.14 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Eri Chaya sold 10,000 shares of the stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $416.27, for a total transaction of $4,162,700.00. The disclosure for this sale can be found here. Insiders have sold a total of 66,380 shares of company stock worth $28,922,379 in the last quarter. Corporate insiders own 28.10% of the company’s stock.

Hedge Funds Weigh In On RH

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Versant Capital Management Inc raised its stake in RH by 7,000.0% during the fourth quarter. Versant Capital Management Inc now owns 71 shares of the company’s stock worth $28,000 after buying an additional 70 shares during the last quarter. UMB Bank n.a. lifted its position in shares of RH by 125.8% during the fourth quarter. UMB Bank n.a. now owns 70 shares of the company’s stock valued at $28,000 after purchasing an additional 39 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of RH by 533.3% during the fourth quarter. GAMMA Investing LLC now owns 76 shares of the company’s stock valued at $30,000 after purchasing an additional 64 shares in the last quarter. Sunbelt Securities Inc. raised its position in RH by 690.0% in the fourth quarter. Sunbelt Securities Inc. now owns 79 shares of the company’s stock worth $31,000 after acquiring an additional 69 shares during the period. Finally, Rakuten Securities Inc. raised its position in RH by 180.0% in the fourth quarter. Rakuten Securities Inc. now owns 112 shares of the company’s stock worth $44,000 after acquiring an additional 72 shares during the period. Institutional investors own 90.17% of the company’s stock.

RH Stock Down 1.5 %

The firm has a market cap of $4.13 billion, a P/E ratio of 63.78, a price-to-earnings-growth ratio of 2.65 and a beta of 2.50. The firm’s 50-day simple moving average is $367.82 and its 200 day simple moving average is $352.87.

RH Company Profile

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.