RH (NYSE:RH) Given New $340.00 Price Target at Morgan Stanley

RH (NYSE:RH) had its price objective decreased by Morgan Stanley from $355.00 to $340.00 in a research note issued to investors on Monday morning, Benzinga reports. Morgan Stanley currently has an equal weight rating on the stock.

Several other research analysts have also commented on RH. UBS Group cut their price target on shares of RH from $350.00 to $340.00 and set a neutral rating on the stock in a report on Friday. Loop Capital lowered shares of RH from a buy rating to a hold rating and set a $300.00 price target on the stock. in a report on Thursday, June 29th. Citigroup cut their price target on shares of RH from $460.00 to $440.00 and set a buy rating on the stock in a report on Friday. Wedbush raised their price target on shares of RH from $230.00 to $360.00 and gave the company a neutral rating in a report on Thursday, August 24th. Finally, Robert W. Baird raised their price target on shares of RH from $230.00 to $300.00 in a report on Friday. One research analyst has rated the stock with a sell rating, nine have given a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of Hold and an average target price of $326.44.

RH Price Performance

RH opened at $316.79 on Monday. The company’s 50 day simple moving average is $367.00 and its 200 day simple moving average is $299.32. The company has a debt-to-equity ratio of 3.70, a quick ratio of 2.01 and a current ratio of 2.91. RH has a 1 year low of $227.00 and a 1 year high of $406.38. The stock has a market capitalization of $6.99 billion, a PE ratio of 24.16, a P/E/G ratio of 3.10 and a beta of 2.18.

Insider Buying and Selling

In related news, insider Edward T. Lee sold 1,400 shares of RH stock in a transaction on Tuesday, June 27th. The shares were sold at an average price of $300.00, for a total value of $420,000.00. Following the completion of the sale, the insider now owns 2,624 shares in the company, valued at $787,200. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other RH news, Director Mark S. Demilio sold 2,000 shares of RH stock in a transaction on Tuesday, June 27th. The shares were sold at an average price of $305.24, for a total value of $610,480.00. Following the completion of the transaction, the director now owns 14,480 shares of the company’s stock, valued at $4,419,875.20. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Edward T. Lee sold 1,400 shares of RH stock in a transaction on Tuesday, June 27th. The stock was sold at an average price of $300.00, for a total transaction of $420,000.00. Following the completion of the transaction, the insider now directly owns 2,624 shares of the company’s stock, valued at approximately $787,200. The disclosure for this sale can be found here. Over the last quarter, insiders sold 4,400 shares of company stock worth $1,310,470. Insiders own 23.90% of the company’s stock.

Hedge Funds Weigh In On RH

A number of hedge funds have recently added to or reduced their stakes in RH. Raymond James & Associates boosted its holdings in RH by 81.7% in the first quarter. Raymond James & Associates now owns 11,395 shares of the company’s stock worth $3,716,000 after purchasing an additional 5,124 shares during the period. US Bancorp DE boosted its holdings in RH by 13.2% in the first quarter. US Bancorp DE now owns 650 shares of the company’s stock worth $213,000 after purchasing an additional 76 shares during the period. Cambridge Investment Research Advisors Inc. boosted its holdings in RH by 2.2% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 2,609 shares of the company’s stock worth $851,000 after purchasing an additional 56 shares during the period. D.A. Davidson & CO. acquired a new position in RH in the first quarter worth $236,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its holdings in RH by 10.8% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 6,373 shares of the company’s stock worth $2,078,000 after purchasing an additional 622 shares during the period. Institutional investors and hedge funds own 84.47% of the company’s stock.

RH Company Profile

RH, together with its subsidiaries, operates as a retailer in the home furnishings and operates under RH Galleries and RH brand names in the District of Columbia and Canada, as well as Waterworks showrooms throughout the United States and the United Kingdom. It offers products in various categories, including furniture, lighting, textiles, bathware, décor, outdoor and garden, and child and teen furnishings.