Restoration Hardware Holdings Inc. (RH) Sees Unusually-High Trading Volume
Restoration Hardware Holdings Inc. (NYSE:RH) shares saw an uptick in trading volume on Tuesday . 3,151,872 shares changed hands during mid-day trading, an increase of 44% from the previous session’s volume of 2,185,764 shares.The stock last traded at $35.55 and had previously closed at $34.03.
Several research firms have issued reports on RH. Vetr lowered shares of Restoration Hardware Holdings from a “hold” rating to a “sell” rating and set a $29.91 price target on the stock. in a research report on Monday, August 15th. Cowen and Company decreased their price target on shares of Restoration Hardware Holdings to $35.00 in a research report on Thursday, June 9th. Deutsche Bank AG lowered shares of Restoration Hardware Holdings from a “buy” rating to a “hold” rating and decreased their price target for the stock from $50.00 to $35.00 in a research report on Thursday, June 9th. Barclays PLC restated a “hold” rating and issued a $50.00 price target on shares of Restoration Hardware Holdings in a research report on Friday, June 10th. Finally, Piper Jaffray Cos. restated a “neutral” rating and issued a $32.00 price target (down from $46.00) on shares of Restoration Hardware Holdings in a research report on Thursday, June 9th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and six have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $45.24.
The firm has a 50-day moving average price of $30.28 and a 200 day moving average price of $36.16. The company has a market capitalization of $1.44 billion and a P/E ratio of 21.06.
Restoration Hardware Holdings (NYSE:RH) last released its quarterly earnings results on Wednesday, June 8th. The company reported ($0.05) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.05 by $0.10. During the same quarter in the previous year, the business earned $0.23 EPS. The company had revenue of $455.50 million for the quarter, compared to analyst estimates of $452.86 million. The business’s quarterly revenue was up 7.8% compared to the same quarter last year. On average, analysts anticipate that Restoration Hardware Holdings Inc. will post $1.66 EPS for the current year.
In other news, Director Keith Belling acquired 4,000 shares of Restoration Hardware Holdings stock in a transaction on Tuesday, June 28th. The shares were purchased at an average cost of $25.37 per share, for a total transaction of $101,480.00. Following the completion of the purchase, the director now directly owns 18,608 shares of the company’s stock, valued at approximately $472,084.96. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Gary G. Friedman acquired 32,918 shares of Restoration Hardware Holdings stock in a transaction on Friday, July 15th. The shares were purchased at an average price of $27.59 per share, for a total transaction of $908,207.62. Following the completion of the purchase, the chief executive officer now directly owns 2,207,451 shares of the company’s stock, valued at $60,903,573.09. The disclosure for this purchase can be found here.
Other large investors recently bought and sold shares of the company. Marshall Wace LLP bought a new stake in Restoration Hardware Holdings during the fourth quarter worth $3,359,000. Jennison Associates LLC increased its stake in Restoration Hardware Holdings by 6.4% in the fourth quarter. Jennison Associates LLC now owns 644,476 shares of the company’s stock worth $51,204,000 after buying an additional 38,568 shares during the last quarter. Finally, State of New Jersey Common Pension Fund D increased its stake in Restoration Hardware Holdings by 27.3% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 69,900 shares of the company’s stock worth $5,554,000 after buying an additional 15,000 shares during the last quarter.
Restoration Hardware Holdings, Inc (RH) is a luxury retailer in the home furnishings marketplace. The Company offers merchandise assortments across a range of categories, including furniture, lighting, textiles, bathware, decor, outdoor and garden, tableware, and child and teen furnishings. RH classifies its sales into furniture, including both indoor and outdoor furniture, and non-furniture, including lighting, textiles, accessories and home decor, product lines.
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