Raymond James & Associates Boosts Stake in RH (NYSE:RH)

Raymond James & Associates increased its position in RH (NYSE:RH) by 1.5% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 9,231 shares of the company’s stock after purchasing an additional 136 shares during the period. Raymond James & Associates’ holdings in RH were worth $2,691,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. FMR LLC increased its position in RH by 11.5% in the 3rd quarter. FMR LLC now owns 2,143,424 shares of the company’s stock valued at $566,636,000 after acquiring an additional 221,858 shares during the period. Vanguard Group Inc. increased its position in RH by 5.6% in the 3rd quarter. Vanguard Group Inc. now owns 1,859,724 shares of the company’s stock valued at $457,623,000 after acquiring an additional 98,713 shares during the period. Atreides Management LP increased its position in RH by 0.3% in the 3rd quarter. Atreides Management LP now owns 1,059,872 shares of the company’s stock valued at $280,188,000 after acquiring an additional 3,375 shares during the period. Durable Capital Partners LP increased its position in RH by 2.6% in the 1st quarter. Durable Capital Partners LP now owns 677,603 shares of the company’s stock valued at $220,960,000 after acquiring an additional 17,196 shares during the period. Finally, Morgan Stanley increased its position in RH by 145.6% in the 4th quarter. Morgan Stanley now owns 594,574 shares of the company’s stock valued at $158,864,000 after acquiring an additional 352,456 shares during the period. 90.17% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at RH

In related news, Director Mark S. Demilio sold 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 9th. The stock was sold at an average price of $288.99, for a total value of $288,990.00. Following the sale, the director now owns 11,991 shares of the company’s stock, valued at approximately $3,465,279.09. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, Director Mark S. Demilio sold 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $308.22, for a total value of $616,440.00. Following the sale, the director now owns 12,991 shares of the company’s stock, valued at approximately $4,004,086.02. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Mark S. Demilio sold 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 9th. The shares were sold at an average price of $288.99, for a total value of $288,990.00. Following the completion of the sale, the director now directly owns 11,991 shares in the company, valued at approximately $3,465,279.09. The disclosure for this sale can be found here. 23.90% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages recently issued reports on RH. Barclays boosted their price target on RH from $293.00 to $340.00 and gave the company an “equal weight” rating in a research report on Monday, April 1st. The Goldman Sachs Group boosted their target price on RH from $201.00 to $264.00 and gave the stock a “sell” rating in a research report on Monday, April 1st. Telsey Advisory Group reiterated a “market perform” rating and set a $335.00 target price (up previously from $285.00) on shares of RH in a research report on Tuesday, March 26th. Loop Capital boosted their target price on RH from $260.00 to $350.00 and gave the stock a “hold” rating in a research report on Monday, April 1st. Finally, Robert W. Baird boosted their target price on RH from $280.00 to $300.00 and gave the stock a “neutral” rating in a research report on Thursday, March 28th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $332.15.

RH Price Performance

RH opened at $255.18 on Monday. The stock has a market cap of $4.67 billion, a P/E ratio of 45.81, a P/E/G ratio of 2.81 and a beta of 2.46. The stock’s 50 day simple moving average is $279.40 and its 200 day simple moving average is $267.78. RH has a 1-year low of $207.26 and a 1-year high of $406.38.

RH (NYSE:RH) last released its quarterly earnings results on Wednesday, March 27th. The company reported $0.72 earnings per share for the quarter, missing analysts’ consensus estimates of $1.71 by ($0.99). The firm had revenue of $738.26 million during the quarter, compared to analyst estimates of $777.50 million. RH had a negative return on equity of 777.61% and a net margin of 4.21%. The business’s revenue was down 4.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.88 EPS. Research analysts expect that RH will post 9.08 EPS for the current fiscal year.

About RH

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.