#6 - RH (NYSE:RH)
If you’re a past or current shareholder of RH (NYSE: RH), your feelings about owning the stock may depend on when you bought it. RH, formerly Restoration Hardware, is a major retailer in the luxury home furnishings market. The stock is up more than 220% in the last five years. However, the stock is down more than 60% from the all-time high of $722.94 set in August 2021.
This sector showed outsized growth as the housing market exploded in 2020 and 2021, so it makes sense that it’s showing outsized contraction as the market normalizes. But long-time shareholders who took a little profit in 2021 are getting rewarded with normalization at a much higher average price.
And although the RH analyst ratings on MarketBeat have a consensus rating of Hold on the stock. The price target of $332.15 is 21% higher than the stock’s price on June 3, 2024. One caveat for buyers is that short interest remains above 14%. However, with institutional ownership of around 90% and buying outnumbering selling in the past year, RH still looks like a housing stock to own.
About RH
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.
Read More - Current Price
- $386.56
- Consensus Rating
- Hold
- Ratings Breakdown
- 7 Buy Ratings, 6 Hold Ratings, 2 Sell Ratings.
- Consensus Price Target
- $326.14 (15.6% Downside)
