CIBC Issues Positive Forecast for Richelieu Hardware (TSE:RCH) Stock Price

Richelieu Hardware (TSE:RCH) had its target price lifted by CIBC from C$37.00 to C$40.00 in a report issued on Monday morning,BayStreet.CA reports.

Separately, National Bankshares raised their price objective on Richelieu Hardware from C$35.00 to C$40.50 and gave the stock a “sector perform” rating in a research report on Tuesday, October 28th. One investment analyst has rated the stock with a Hold rating, According to MarketBeat, Richelieu Hardware has a consensus rating of “Hold” and a consensus price target of C$40.25.

Richelieu Hardware Price Performance

Shares of TSE:RCH opened at C$42.83 on Monday. The company has a debt-to-equity ratio of 26.37, a quick ratio of 0.72 and a current ratio of 3.46. Richelieu Hardware has a 52 week low of C$31.81 and a 52 week high of C$43.79. The firm has a market cap of C$2.35 billion, a PE ratio of 27.63, a price-to-earnings-growth ratio of 0.77 and a beta of 0.79. The firm’s fifty day moving average is C$39.38 and its 200-day moving average is C$37.13.

Richelieu Hardware (TSE:RCH) last posted its quarterly earnings data on Thursday, October 9th. The company reported C$0.43 earnings per share for the quarter. The business had revenue of C$499.20 million during the quarter. Richelieu Hardware had a return on equity of 9.84% and a net margin of 4.97%.

Richelieu Hardware Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Sunday, November 16th. Shareholders of record on Sunday, November 16th were issued a dividend of $0.1533 per share. This represents a $0.61 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date was Thursday, October 23rd. Richelieu Hardware’s dividend payout ratio is presently 39.56%.

Insider Activity at Richelieu Hardware

In other news, insider Guy Grenier sold 7,000 shares of Richelieu Hardware stock in a transaction on Thursday, October 23rd. The shares were sold at an average price of C$36.73, for a total value of C$257,110.00. Following the completion of the sale, the insider owned 50,289 shares in the company, valued at C$1,847,114.97. The trade was a 12.22% decrease in their position. 7.62% of the stock is currently owned by company 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.