Richelieu Hardware (TSE:RCH) Stock Passes Above 200 Day Moving Average – Here’s Why

Richelieu Hardware Ltd. (TSE:RCH) shares crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of C$35.51 and traded as high as C$37.65. Richelieu Hardware shares last traded at C$37.49, with a volume of 170,140 shares traded.

Analysts Set New Price Targets

Separately, National Bankshares raised their price target on Richelieu Hardware from C$35.00 to C$40.50 and gave the company a “sector perform” rating in a research note on Tuesday, October 28th. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, Richelieu Hardware presently has an average rating of “Hold” and an average target price of C$39.25.

Richelieu Hardware Price Performance

The business has a fifty day moving average of C$36.09 and a 200 day moving average of C$35.53. The firm has a market cap of C$2.07 billion, a P/E ratio of 24.66, a PEG ratio of 0.77 and a beta of 0.85. The company has a quick ratio of 0.72, a current ratio of 3.46 and a debt-to-equity ratio of 26.37.

Richelieu Hardware (TSE:RCH) last released its quarterly earnings data on Thursday, October 9th. The company reported C$0.43 earnings per share (EPS) for the quarter. Richelieu Hardware had a return on equity of 9.84% and a net margin of 4.97%.The company had revenue of C$499.20 million during the quarter.

Richelieu Hardware Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, November 16th. Shareholders of record on Sunday, November 16th will be given a dividend of $0.1533 per share. This represents a $0.61 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date of this dividend is Thursday, October 23rd. Richelieu Hardware’s payout ratio is 40.13%.

Insider Activity at Richelieu Hardware

In other news, insider Guy Grenier sold 7,000 shares of the stock in a transaction dated Thursday, October 23rd. The shares were sold at an average price of C$36.73, for a total value of C$257,110.00. Following the transaction, the insider directly owned 50,289 shares of the company’s stock, valued at C$1,847,114.97. This represents a 12.22% decrease in their ownership of the stock. 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.