Restoration Hardware (RH) Trading Up 5.1%
Restoration Hardware Holdings Inc. (NYSE:RH) was up 5.1% during mid-day trading on Tuesday . The stock traded as high as $102.33 and last traded at $102.09. Approximately 945,754 shares traded hands during trading, a decline of 53% from the average daily volume of 1,998,127 shares. The stock had previously closed at $97.11.
Several equities research analysts have issued reports on RH shares. Piper Jaffray Companies raised their price target on shares of Restoration Hardware from $43.00 to $71.00 and gave the stock a “neutral” rating in a research note on Thursday, September 7th. Citigroup raised shares of Restoration Hardware from a “neutral” rating to a “buy” rating in a research note on Thursday, November 16th. Buckingham Research reaffirmed a “buy” rating on shares of Restoration Hardware in a research note on Wednesday, November 15th. Telsey Advisory Group reaffirmed a “market perform” rating on shares of Restoration Hardware in a research note on Thursday, November 16th. Finally, Zacks Investment Research raised shares of Restoration Hardware from a “hold” rating to a “buy” rating and set a $117.00 price target on the stock in a research note on Monday, November 20th. Three analysts have rated the stock with a sell rating, twelve have given a hold rating and six have issued a buy rating to the company’s stock. Restoration Hardware has an average rating of “Hold” and an average price target of $72.91.
The company has a debt-to-equity ratio of -26.72, a quick ratio of 0.27 and a current ratio of 1.50. The stock has a market cap of $2,159.41, a price-to-earnings ratio of 65.03, a P/E/G ratio of 1.23 and a beta of 1.68.
In related news, CEO Gary G. Friedman purchased 13,959 shares of the firm’s stock in a transaction dated Tuesday, September 26th. The stock was acquired at an average price of $71.64 per share, with a total value of $1,000,022.76. Following the completion of the transaction, the chief executive officer now owns 2,235,410 shares of the company’s stock, valued at $160,144,772.40. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Gary G. Friedman purchased 14,000 shares of the firm’s stock in a transaction dated Thursday, September 14th. The shares were bought at an average cost of $70.94 per share, with a total value of $993,160.00. Following the transaction, the chief executive officer now directly owns 2,212,051 shares of the company’s stock, valued at approximately $156,922,897.94. The disclosure for this purchase can be found here. Company insiders own 18.80% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the company. Flinton Capital Management LLC grew its position in shares of Restoration Hardware by 41.4% during the second quarter. Flinton Capital Management LLC now owns 1,584 shares of the company’s stock worth $102,000 after buying an additional 464 shares in the last quarter. Riverhead Capital Management LLC boosted its holdings in Restoration Hardware by 58.2% in the second quarter. Riverhead Capital Management LLC now owns 1,898 shares of the company’s stock worth $122,000 after purchasing an additional 698 shares during the period. Public Employees Retirement System of Ohio boosted its holdings in Restoration Hardware by 12.6% in the first quarter. Public Employees Retirement System of Ohio now owns 2,286 shares of the company’s stock worth $106,000 after purchasing an additional 255 shares during the period. Cornerstone Capital Management Holdings LLC. acquired a new position in Restoration Hardware in the third quarter worth $274,000. Finally, Teachers Advisors LLC acquired a new position in Restoration Hardware in the first quarter worth $3,165,000. 95.71% of the stock is owned by institutional investors and hedge funds.
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About Restoration Hardware
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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