Richelieu Hardware (TSE:RCH) Hits New 52-Week High – Here’s Why

Richelieu Hardware Ltd. (TSE:RCH)’s stock price hit a new 52-week high on Tuesday . The stock traded as high as C$43.77 and last traded at C$43.69, with a volume of 76002 shares trading hands. The stock had previously closed at C$43.83.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. Canadian Imperial Bank of Commerce boosted their target price on shares of Richelieu Hardware from C$37.00 to C$40.00 in a research note on Monday, January 19th. National Bank Financial upped their price objective on Richelieu Hardware from C$35.00 to C$40.50 and gave the stock a “sector perform” rating in a research report on Tuesday, October 28th. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, Richelieu Hardware has a consensus rating of “Hold” and a consensus target price of C$40.25.

Richelieu Hardware Price Performance

The stock has a market capitalization of C$2.40 billion, a price-to-earnings ratio of 28.17, a price-to-earnings-growth ratio of 0.77 and a beta of 0.72. The company has a current ratio of 3.46, a quick ratio of 0.72 and a debt-to-equity ratio of 26.37. The company’s 50 day moving average is C$41.12 and its 200 day moving average is C$38.08.

Insider Buying and Selling at Richelieu Hardware

In other Richelieu Hardware news, Director Marc Poulin sold 3,000 shares of the firm’s stock in a transaction on Thursday, February 12th. The shares were sold at an average price of C$42.78, for a total transaction of C$128,340.00. Following the transaction, the director directly owned 15,000 shares of the company’s stock, valued at approximately C$641,700. This trade represents a 16.67% decrease in their position. Also, insider Antoine Auclair bought 2,500 shares of Richelieu Hardware stock in a transaction dated Friday, January 30th. The stock was acquired at an average cost of C$40.39 per share, with a total value of C$100,975.00. Following the completion of the acquisition, the insider directly owned 8,597 shares of the company’s stock, valued at approximately C$347,232.83. The trade was a 41.00% increase in their position. 7.62% of the stock is 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.