Restoration Hardware Holdings Sees Unusually-High Trading Volume Following Earnings Beat (RH)
Restoration Hardware Holdings (NYSE:RH) shares saw an uptick in trading volume on Wednesday following a stronger than expected earnings report, American Banking & Market News reports. 3,074,741 shares changed hands during mid-day trading, an increase of 196% from the previous session’s volume of 1,037,677 shares.The stock last traded at $71.35 and had previously closed at $69.39.
The company reported $0.18 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.11 by $0.07. The company had revenue of $366.30 million for the quarter, compared to the consensus estimate of $348.49 million. During the same quarter last year, the company posted $0.06 earnings per share. Restoration Hardware Holdings’s revenue was up 21.6% compared to the same quarter last year.
A number of analysts have recently weighed in on RH shares. Analysts at Wells Fargo & Co. reiterated an “outperform” rating on shares of Restoration Hardware Holdings in a research note on Tuesday, May 20th. Analysts at Piper Jaffray raised their price target on shares of Restoration Hardware Holdings from $65.00 to $72.00 in a research note on Friday, March 28th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $78.58.
In other Restoration Hardware Holdings news, Director Carlos Alberini sold 30,000 shares of the company’s stock on the open market in a transaction dated Friday, June 6th. The stock was sold at an average price of $67.25, for a total value of $2,017,500.00. The sale was disclosed in a legal filing with the SEC, which is available at this link.
The stock has a 50-day moving average of $64.28 and a 200-day moving average of $64.62. The company has a market cap of $2.775 billion and a P/E ratio of 154.20.
Restoration Hardware Holdings, Inc (NYSE:RH) is a holding company.
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