Bank of America Forecasts Strong Price Appreciation for RH (NYSE:RH) Stock

RH (NYSE:RH) had its price target raised by stock analysts at Bank of America from $144.00 to $172.00 in a research note issued on Wednesday,Benzinga reports. The brokerage currently has an “underperform” rating on the stock. Bank of America‘s price objective would suggest a potential downside of 21.04% from the stock’s previous close.

Several other equities analysts have also recently commented on the stock. Citigroup reiterated a “neutral” rating and set a $200.00 target price (down from $437.00) on shares of RH in a research note on Thursday, April 3rd. Wells Fargo & Company cut their target price on shares of RH from $375.00 to $300.00 and set an “overweight” rating for the company in a research note on Thursday, April 3rd. The Goldman Sachs Group cut their target price on shares of RH from $276.00 to $194.00 and set a “neutral” rating for the company in a research note on Monday, May 5th. Loop Capital cut their target price on shares of RH from $450.00 to $190.00 and set a “hold” rating for the company in a research note on Friday, April 4th. Finally, StockNews.com cut shares of RH from a “hold” rating to a “sell” rating in a research note on Wednesday, March 19th. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $275.94.

RH Trading Up 0.9%

NYSE RH opened at $217.83 on Wednesday. The company has a fifty day simple moving average of $198.74 and a 200 day simple moving average of $315.22. The company has a market cap of $4.08 billion, a P/E ratio of 62.59, a P/E/G ratio of 2.65 and a beta of 2.36. RH has a 1 year low of $123.03 and a 1 year high of $457.26.

RH (NYSE:RH) last posted its quarterly earnings data on Wednesday, April 2nd. The company reported $1.58 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.91 by ($0.33). The firm had revenue of $812.41 million for the quarter, compared to the consensus estimate of $828.21 million. RH had a negative return on equity of 35.72% and a net margin of 2.25%. RH’s quarterly revenue was up 10.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.72 earnings per share. Equities research analysts forecast that RH will post 4.39 EPS for the current fiscal year.

Institutional Investors Weigh In On RH

Hedge funds have recently made changes to their positions in the company. Alliancebernstein L.P. grew its holdings in RH by 1,960.8% during the 4th quarter. Alliancebernstein L.P. now owns 363,698 shares of the company’s stock worth $143,148,000 after acquiring an additional 346,050 shares during the last quarter. Atreides Management LP grew its holdings in RH by 69.1% during the 1st quarter. Atreides Management LP now owns 473,321 shares of the company’s stock worth $110,951,000 after acquiring an additional 193,404 shares during the last quarter. Fuller & Thaler Asset Management Inc. bought a new stake in RH during the 1st quarter worth about $35,057,000. Norges Bank bought a new stake in RH during the 4th quarter worth about $54,314,000. Finally, Raymond James Financial Inc. bought a new stake in RH during the 4th quarter worth about $52,190,000. Institutional investors and hedge funds own 90.17% of the company’s stock.

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.