RH (NYSE:RH) Stock Gets Price Target Trim from The Goldman Sachs Group

RH (NYSE:RH) had its price objective decreased by The Goldman Sachs Group from $164.00 to $140.00 in a report issued on Tuesday, Marketbeat Ratings reports. The Goldman Sachs Group currently has a neutral rating on the stock.

A number of other equities research analysts also recently issued reports on the company. Bank of America reduced their price target on RH from $156.00 to $114.00 and set an “underperform” rating on the stock in a research report on Friday, September 11th. Robert W. Baird dropped their price objective on RH from $165.00 to $160.00 and set a “neutral” rating for the company in a report on Friday, September 11th. Guggenheim reaffirmed a “buy” rating and issued a $200.00 price objective on shares of RH in a report on Friday, September 11th. Morgan Stanley cut their target price on RH from $240.00 to $210.00 and set an “overweight” rating for the company in a research report on Friday, September 11th. Finally, BNP Paribas Exane reissued an “underperform” rating and set a $81.00 target price (down from $90.00) on shares of RH in a report on Friday, September 11th. Seven investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $163.79.

RH Stock Performance

NYSE RH opened at $140.26 on Tuesday. The company has a quick ratio of 0.37, a current ratio of 1.12 and a debt-to-equity ratio of 26.57. The company has a market capitalization of $2.66 billion, a P/E ratio of 32.24, a P/E/G ratio of 2.45 and a beta of 1.91. RH has a 12-month low of $106.30 and a 12-month high of $239.40. The firm has a 50-day moving average price of $134.02 and a two-hundred day moving average price of $145.79.

RH (NYSE:RH) last announced its earnings results on Thursday, September 10th. The company reported $2.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.38 by $2.32. RH had a net margin of 3.23% and a return on equity of 132.79%. The firm had revenue of $922.15 million for the quarter, compared to analyst estimates of $915.09 million. During the same quarter in the prior year, the business posted $2.93 EPS. The business’s revenue was up 2.6% compared to the same quarter last year. Analysts anticipate that RH will post 5.23 earnings per share for the current year.

Insider Activity at RH

In other news, Director Mark Demilio sold 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 22nd. The shares were sold at an average price of $132.00, for a total transaction of $132,000.00. Following the completion of the sale, the director owned 25,680 shares of the company’s stock, valued at approximately $3,389,760. This represents a 3.75% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 26.90% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Engineers Gate Manager LP increased its stake in shares of RH by 63.8% in the 2nd quarter. Engineers Gate Manager LP now owns 19,337 shares of the company’s stock valued at $3,185,000 after purchasing an additional 7,531 shares during the last quarter. Deutsche Bank AG raised its holdings in shares of RH by 526.0% during the 2nd quarter. Deutsche Bank AG now owns 19,019 shares of the company’s stock worth $3,133,000 after buying an additional 15,981 shares in the last quarter. Oak Thistle LLC acquired a new position in shares of RH during the 2nd quarter worth $2,033,000. Quantinno Capital Management LP raised its holdings in shares of RH by 138.1% during the 1st quarter. Quantinno Capital Management LP now owns 24,999 shares of the company’s stock worth $3,495,000 after buying an additional 14,500 shares in the last quarter. Finally, Rockefeller Capital Management L.P. lifted its position in shares of RH by 37.8% during the 4th quarter. Rockefeller Capital Management L.P. now owns 133,676 shares of the company’s stock worth $23,948,000 after buying an additional 36,691 shares during the last quarter. 90.17% of the stock is owned by institutional investors.

Key Headlines Impacting RH

Here are the key news stories impacting RH this week:

• Positive Sentiment: RH’s most recent quarterly results provided some fundamental support: adjusted earnings of $2.70 per share substantially exceeded the $0.38 consensus estimate, while revenue of $922.2 million also topped expectations. Revenue increased 2.6% year over year, though growth remained modest.
• Neutral Sentiment: The stock traded above its 50-day moving average but remained below its 200-day average, indicating a recent rebound but a still-challenging longer-term trend. RH also has elevated volatility, with a beta of 1.91.
• Negative Sentiment: Goldman Sachs issued a pessimistic forecast for RH, creating a potential headwind for the luxury-home-furnishings retailer. The available report does not specify Goldman’s price target or the detailed reasons for its bearish view. The Goldman Sachs Group Issues Pessimistic Forecast for RH Stock Price

About RH

RH, formerly known as Restoration Hardware, is a luxury home-furnishings company that curates and sells products for residential and hospitality interiors. Its offerings include furniture, lighting, textiles, rugs, bath and plumbing fixtures, outdoor furnishings, décor, and related design products.

The company markets its products through a multichannel platform that includes RH Galleries, smaller design galleries, outlet locations, catalogs, and its digital channels. RH also operates businesses such as Waterworks, which specializes in luxury kitchen and bath products, and provides interior-design services through its design professionals.