Restoration Hardware Holdings Inc. (RH) Receives Buy Rating from Guggenheim
Guggenheim reissued their buy rating on shares of Restoration Hardware Holdings Inc. (NYSE:RH) in a report released on Wednesday. The brokerage currently has a $95.00 price target on the stock, up from their prior price target of $75.00.
A number of other research firms have also issued reports on RH. Piper Jaffray Companies raised their target price on shares of Restoration Hardware Holdings from $43.00 to $71.00 and gave the company a neutral rating in a research note on Thursday, September 7th. Telsey Advisory Group raised their price target on shares of Restoration Hardware Holdings from $60.00 to $66.00 and gave the stock a market perform rating in a research report on Thursday, September 7th. Cowen and Company restated a market perform rating and issued a $61.00 price target (up from $44.00) on shares of Restoration Hardware Holdings in a research report on Thursday, September 7th. Zacks Investment Research upgraded shares of Restoration Hardware Holdings from a sell rating to a hold rating in a research report on Tuesday, July 18th. Finally, Oppenheimer Holdings, Inc. restated a hold rating on shares of Restoration Hardware Holdings in a research report on Thursday, September 7th. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and seven have assigned a buy rating to the company’s stock. The company has an average rating of Hold and a consensus target price of $60.81.
Restoration Hardware Holdings (RH) opened at 76.46 on Wednesday. The stock has a market capitalization of $1.62 billion, a PE ratio of 4024.21 and a beta of 1.62. Restoration Hardware Holdings has a 52-week low of $24.41 and a 52-week high of $79.91. The firm has a 50-day moving average of $62.95 and a 200-day moving average of $57.23.
Restoration Hardware Holdings (NYSE:RH) last posted its earnings results on Wednesday, September 6th. The company reported $0.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.47 by $0.18. The firm had revenue of $615.30 million during the quarter, compared to analyst estimates of $606.38 million. During the same quarter in the previous year, the business posted $0.44 earnings per share. The business’s quarterly revenue was up 13.2% compared to the same quarter last year. On average, equities analysts expect that Restoration Hardware Holdings will post $2.59 EPS for the current year.
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In other news, CEO Gary G. Friedman purchased 14,000 shares of the business’s stock in a transaction that occurred on Thursday, September 14th. The stock was purchased at an average cost of $70.94 per share, with a total value of $993,160.00. Following the acquisition, the chief executive officer now directly owns 2,212,051 shares of the company’s stock, valued at approximately $156,922,897.94. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Gary G. Friedman purchased 13,959 shares of the business’s stock in a transaction that occurred on Tuesday, September 26th. The shares were purchased at an average cost of $71.64 per share, with a total value of $1,000,022.76. Following the completion of the acquisition, the chief executive officer now directly owns 2,235,410 shares in the company, valued at $160,144,772.40. The disclosure for this purchase can be found here. 18.80% of the stock is currently owned by insiders.
Hedge funds have recently made changes to their positions in the stock. Nomura Holdings Inc. bought a new position in Restoration Hardware Holdings during the 1st quarter valued at about $1,879,000. Vanguard Group Inc. lifted its holdings in Restoration Hardware Holdings by 14.5% during the 1st quarter. Vanguard Group Inc. now owns 3,352,950 shares of the company’s stock valued at $155,107,000 after purchasing an additional 423,925 shares during the last quarter. Chescapmanager LLC bought a new position in Restoration Hardware Holdings during the 1st quarter valued at about $13,230,000. Amalgamated Bank bought a new position in Restoration Hardware Holdings during the 1st quarter valued at about $242,000. Finally, Highbridge Capital Management LLC bought a new position in Restoration Hardware Holdings during the 1st quarter valued at about $469,000. 95.71% of the stock is owned by hedge funds and other institutional investors.
About Restoration Hardware Holdings
RH, formerly Restoration Hardware Holdings, Inc, is a retailer in the home furnishings marketplace. As of January 28, 2017, the Company had two segments: RH Segment and Waterworks. It offers merchandise assortments across a range of categories, including furniture, lighting, textiles, bathware, decor, outdoor and garden, tableware, and child and teen furnishings.
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