Richelieu Hardware (TSE:RCH) Shares Pass Above 200-Day Moving Average – What’s Next?

Richelieu Hardware Ltd. (TSE:RCH)’s share price passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of C$38.99 and traded as high as C$42.27. Richelieu Hardware shares last traded at C$41.35, with a volume of 117,806 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, Canadian Imperial Bank of Commerce raised their price target on 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, According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of C$40.25.

Richelieu Hardware Price Performance

The company has a market capitalization of C$2.27 billion, a PE ratio of 26.68, a PEG ratio of 0.77 and a beta of 0.82. 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 company’s 50 day moving average price is C$42.41 and its 200-day moving average price is C$38.99.

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

Insider Transactions at Richelieu Hardware

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

Richelieu Hardware Company Profile

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.