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

Richelieu Hardware Ltd. (TSE:RCH)’s share price crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of C$38.47 and traded as high as C$44.21. Richelieu Hardware shares last traded at C$44.02, with a volume of 56,238 shares changing hands.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on RCH shares. National Bank Financial increased their price objective on Richelieu Hardware from C$35.00 to C$40.50 and gave the stock a “sector perform” rating in a report on Tuesday, October 28th. 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 report on Monday, January 19th. One analyst has rated the stock with a Hold rating, According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of C$40.25.

Richelieu Hardware Stock Performance

The stock has a fifty day moving average price of C$41.73 and a 200 day moving average price of C$38.47. 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 firm has a market cap of C$2.42 billion, a price-to-earnings ratio of 28.40, a price-to-earnings-growth ratio of 0.77 and a beta of 0.72.

Insider Buying and Selling

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