CIBC Forecasts Strong Price Appreciation for Richelieu Hardware (TSE:RCH) Stock

Richelieu Hardware (TSE:RCH) had its price target raised by CIBC from C$37.00 to C$40.00 in a report released on Monday,BayStreet.CA reports. CIBC’s price target suggests a potential downside of 6.85% from the stock’s previous close.

Separately, National Bankshares increased their price objective on Richelieu Hardware from C$35.00 to C$40.50 and gave the company a “sector perform” rating in a report on Tuesday, October 28th. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat, Richelieu Hardware currently has a consensus rating of “Hold” and an average target price of C$40.25.

Richelieu Hardware Stock Up 0.3%

Richelieu Hardware stock traded up C$0.13 during mid-day trading on Monday, reaching C$42.94. The company’s stock had a trading volume of 40,392 shares, compared to its average volume of 110,481. The business’s 50 day simple moving average is C$39.27 and its 200 day simple moving average is C$37.09. The company has a debt-to-equity ratio of 26.37, a quick ratio of 0.72 and a current ratio of 3.46. Richelieu Hardware has a 12 month low of C$31.81 and a 12 month high of C$43.79. The company has a market capitalization of C$2.37 billion, a price-to-earnings ratio of 28.25, a price-to-earnings-growth ratio of 0.77 and a beta of 0.79.

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

Insiders Place Their Bets

In other Richelieu Hardware news, insider Guy Grenier sold 7,000 shares of the company’s stock in a transaction on 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 in the company, valued at C$1,847,114.97. The trade was a 12.22% decrease in their ownership of the stock. Company insiders own 7.62% of the company’s stock.

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.