#3 - RH (NYSE:RH)
In 2023 and 2024, Buffett was buying some homebuilder stocks. But investors would have been well-advised to focus on Buffett’s holdings in RH (NYSE: RH). The company, formerly known as Restoration Hardware, is a premium home furnishings retailer.
The stock has moved up and down with the housing market. In 2021, investors were rewarded when RH stock charged above $700 per share. However, the stock then began to plummet, and short interest increased as higher mortgage rates caused the housing market to seize up.
RH stock has spiked 21% in the 30 days ending September 20, 2024. Most of that gain has come after the company’s earnings report was released on September 12, just a few days before the Fed’s decision on interest rates. The short squeeze has run the stock up to its 52-week high. However, analysts are beginning to bid the stock higher as the company’s investments, including expansion in Europe, are starting to pay off.
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
- $391.69
- Consensus Rating
- Hold
- Ratings Breakdown
- 7 Buy Ratings, 6 Hold Ratings, 2 Sell Ratings.
- Consensus Price Target
- $326.14 (16.7% Downside)
