Wells Fargo & Company Boosts RH (NYSE:RH) Price Target to $500.00

RH (NYSE:RH - Free Report) had its target price increased by Wells Fargo & Company from $425.00 to $500.00 in a research note issued to investors on Friday morning,Benzinga reports. The brokerage currently has an overweight rating on the stock.

Several other brokerages also recently commented on RH. Morgan Stanley lifted their target price on RH from $310.00 to $435.00 and gave the stock an "equal weight" rating in a research note on Friday. Citigroup upped their price objective on shares of RH from $340.00 to $355.00 and gave the company a "buy" rating in a report on Friday, September 13th. TD Cowen raised their target price on shares of RH from $325.00 to $350.00 and gave the stock a "buy" rating in a research note on Friday, September 13th. StockNews.com raised shares of RH to a "sell" rating in a report on Thursday, September 19th. Finally, JPMorgan Chase & Co. reduced their price objective on RH from $345.00 to $338.00 and set an "overweight" rating for the company in a report on Monday, September 16th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and eight have issued a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $377.07.

RH Stock Up 17.0 %

Shares of NYSE:RH traded up $64.66 during mid-day trading on Friday, reaching $446.04. 3,056,518 shares of the stock were exchanged, compared to its average volume of 723,773. The company has a market cap of $8.23 billion, a P/E ratio of 262.38, a P/E/G ratio of 2.44 and a beta of 2.44. The stock's 50 day simple moving average is $347.81 and its 200-day simple moving average is $297.56. RH has a one year low of $212.43 and a one year high of $457.26.

RH (NYSE:RH - Get Free Report) last issued its quarterly earnings results on Thursday, December 12th. The company reported $2.48 EPS for the quarter, missing the consensus estimate of $2.67 by ($0.19). The business had revenue of $811.73 million for the quarter, compared to the consensus estimate of $812.19 million. RH had a negative return on equity of 11.29% and a net margin of 1.13%. The company's quarterly revenue was up 8.1% compared to the same quarter last year. During the same period last year, the firm earned ($0.42) earnings per share. Analysts anticipate that RH will post 5.63 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider Edward T. Lee sold 2,000 shares of the stock in a transaction dated Friday, October 18th. The stock was sold at an average price of $353.57, for a total value of $707,140.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Stefan Duban sold 4,285 shares of RH stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $346.37, for a total value of $1,484,195.45. Following the completion of the transaction, the insider now directly owns 78 shares in the company, valued at approximately $27,016.86. This represents a 98.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 8,285 shares of company stock worth $2,871,935 in the last ninety days. Company insiders own 28.10% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Blue Trust Inc. lifted its position in shares of RH by 308.3% during the 3rd quarter. Blue Trust Inc. now owns 98 shares of the company's stock valued at $33,000 after acquiring an additional 74 shares during the period. Ridgewood Investments LLC bought a new stake in RH in the second quarter valued at $62,000. Centaurus Financial Inc. acquired a new position in shares of RH during the third quarter valued at about $100,000. Ameliora Wealth Management Ltd. bought a new position in shares of RH during the 3rd quarter worth about $110,000. Finally, Quarry LP acquired a new stake in shares of RH in the 3rd quarter valued at about $141,000. 90.17% of the stock is owned by institutional investors.

RH Company Profile

RH, together with its subsidiaries, operates as a retailer in the home furnishings market. The company offers products in various categories, including furniture, lighting, textiles, bathware, décor, outdoor and garden, baby, child, and teen furnishings. It provides its products through rh.com, rhbabyandchild.com, rhteen.com, rhmodern.com, and waterworks.com online channels, as well as operates RH Galleries, RH outlet stores, RH Guesthouse, and Waterworks showrooms in the United States, Canada, the United Kingdom, and Germany.