Richelieu Hardware (TSE:RCH) Stock Price Crosses Above Two Hundred Day Moving Average – What’s Next?

Richelieu Hardware Ltd. (TSE:RCH) shares crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of C$38.78 and traded as high as C$43.45. Richelieu Hardware shares last traded at C$42.86, with a volume of 67,988 shares traded.

Wall Street Analysts Forecast Growth

Separately, Canadian Imperial Bank of Commerce raised their price target on shares of Richelieu Hardware from C$37.00 to C$40.00 in a research note on Monday, January 19th. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of C$40.25.

Richelieu Hardware Stock Down 1.4%

The stock’s 50-day moving average price is C$42.16 and its 200-day moving average price is C$38.78. The company has a current ratio of 3.29, a quick ratio of 0.72 and a debt-to-equity ratio of 28.79. The stock has a market cap of C$2.35 billion, a price-to-earnings ratio of 27.65, a P/E/G ratio of 0.77 and a beta of 0.72.

Richelieu Hardware (TSE:RCH) last posted its quarterly earnings data on Thursday, January 15th. The company reported C$0.47 earnings per share for the quarter. The company had revenue of C$510.93 million during the quarter. Richelieu Hardware had a net margin of 4.37% and a return on equity of 9.02%.

Insider Activity

In other Richelieu Hardware news, insider Antoine Auclair bought 2,500 shares of the firm’s stock in a transaction that occurred on Friday, January 30th. The stock was acquired at an average price of C$40.39 per share, with a total value of C$100,975.00. Following the completion of the purchase, the insider directly owned 8,597 shares of the company’s stock, valued at approximately C$347,232.83. This trade represents a 41.00% increase in their position. Also, Director Marc Poulin sold 3,000 shares of the business’s stock in a transaction that occurred on Thursday, February 12th. The shares were sold at an average price of C$42.78, for a total value of C$128,340.00. Following the completion of the transaction, the director directly owned 15,000 shares in the company, valued at approximately C$641,700. This trade represents a 16.67% decrease in their ownership of the stock. Company insiders own 7.62% of the company’s stock.

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.