Richelieu Hardware (TSE:RCH) Shares Pass Below 200 Day Moving Average – Should You Sell?

Richelieu Hardware Ltd. (TSE:RCH)’s stock price passed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$39.69 and traded as low as C$39.06. Richelieu Hardware shares last traded at C$39.37, with a volume of 70,193 shares.

Wall Street Analyst Weigh In

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

Richelieu Hardware Stock Down 2.8%

The company has a market capitalization of C$2.16 billion, a P/E ratio of 25.40, a PEG ratio of 0.77 and a beta of 0.78. 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 50 day moving average price of C$42.27 and a 200 day moving average price of C$39.69.

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

Insiders Place Their Bets

In other news, Director Marc Poulin sold 3,000 shares of the stock in a transaction on Thursday, February 12th. The stock was 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 represents a 16.67% decrease in their position. Also, insider Antoine Auclair purchased 2,500 shares of the company’s stock in a transaction dated Friday, January 30th. The stock was purchased 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 in the company, valued at C$347,232.83. The trade was a 41.00% increase in their position. 7.62% of the stock is currently owned by corporate 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.