JPMorgan Chase & Co. Trims RH (NYSE:RH) Target Price to $338.00

RH (NYSE:RH) had its price objective cut by stock analysts at JPMorgan Chase & Co. from $345.00 to $338.00 in a note issued to investors on Monday, Benzinga reports. The firm presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s target price indicates a potential downside of 0.44% from the company’s current price.

Other equities analysts have also recently issued reports about the stock. StockNews.com upgraded shares of RH to a “sell” rating in a research report on Friday, June 21st. Telsey Advisory Group reissued a “market perform” rating and set a $290.00 target price on shares of RH in a research note on Tuesday, September 10th. Citigroup boosted their price objective on RH from $340.00 to $355.00 and gave the company a “buy” rating in a research note on Friday. Morgan Stanley raised their price target on shares of RH from $300.00 to $310.00 and gave the stock an “equal weight” rating in a report on Friday. Finally, The Goldman Sachs Group cut their target price on RH from $264.00 to $226.00 and set a “sell” rating on the stock in a report on Monday, June 17th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $322.54.

RH Stock Performance

Shares of NYSE RH traded up $17.63 during mid-day trading on Monday, reaching $339.50. The company had a trading volume of 1,140,266 shares, compared to its average volume of 737,910. The firm has a market cap of $6.26 billion, a price-to-earnings ratio of 94.04, a PEG ratio of 1.13 and a beta of 2.42. RH has a one year low of $207.26 and a one year high of $354.86. The business’s 50-day simple moving average is $263.59 and its 200 day simple moving average is $266.33.

RH (NYSE:RH) last released its quarterly earnings data on Thursday, September 12th. The company reported $1.69 earnings per share for the quarter, beating the consensus estimate of $1.56 by $0.13. The business had revenue of $829.66 million for the quarter, compared to analyst estimates of $824.52 million. RH had a negative return on equity of 10.63% and a net margin of 1.13%. RH’s revenue was up 3.6% compared to the same quarter last year. During the same period last year, the firm posted $3.93 earnings per share. On average, sell-side analysts anticipate that RH will post 7.29 EPS for the current year.

Insiders Place Their Bets

In other RH news, CEO Gary G. Friedman bought 34,200 shares of the stock in a transaction dated Tuesday, June 25th. The shares were bought at an average cost of $215.00 per share, for a total transaction of $7,353,000.00. Following the purchase, the chief executive officer now directly owns 3,339,263 shares of the company’s stock, valued at approximately $717,941,545. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 28.10% of the company’s stock.

Institutional Trading of RH

Several hedge funds have recently added to or reduced their stakes in RH. Price T Rowe Associates Inc. MD grew its position in shares of RH by 10.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 665,383 shares of the company’s stock valued at $231,728,000 after acquiring an additional 62,198 shares during the period. Anomaly Capital Management LP grew its holdings in RH by 503.6% during the second quarter. Anomaly Capital Management LP now owns 349,227 shares of the company’s stock valued at $85,365,000 after purchasing an additional 291,368 shares during the period. Dimensional Fund Advisors LP increased its position in RH by 18.0% in the second quarter. Dimensional Fund Advisors LP now owns 270,993 shares of the company’s stock worth $66,239,000 after buying an additional 41,242 shares during the last quarter. Allspring Global Investments Holdings LLC raised its stake in shares of RH by 24.2% in the second quarter. Allspring Global Investments Holdings LLC now owns 227,247 shares of the company’s stock valued at $55,548,000 after buying an additional 44,278 shares during the period. Finally, Marshall Wace LLP lifted its position in shares of RH by 58.6% during the 2nd quarter. Marshall Wace LLP now owns 174,324 shares of the company’s stock valued at $42,612,000 after buying an additional 64,423 shares during the last quarter. Institutional investors own 90.17% of the company’s stock.

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.