RH (NYSE:RH) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Wednesday.
According to Zacks, “RH’s shares have gained over 100% in the past one year, compared to the its industry’s 3.1% growth. The company’s efforts to redesign its supply chain network, rationalize product offerings and the Waterworks acquisition are expected to boost growth. Initiatives like RH Modern, RH Teen, RH Hospitality, the redesign of RH Interiors Source Book and the rollout of Design Ateliers across the company’s retail galleries are expected to drive growth in 2017 and beyond. However, higher dependence on imports makes it vulnerable to uncertain macro conditions.”
A number of other analysts also recently issued reports on RH. UBS Group raised RH from a “market perform” rating to an “outperform” rating in a research report on Wednesday. Raymond James Financial raised RH from a “market perform” rating to an “outperform” rating and set a $95.00 target price on the stock in a research report on Wednesday. They noted that the move was a valuation call. Loop Capital lifted their target price on RH to $101.00 and gave the company a “hold” rating in a research report on Friday, November 17th. Buckingham Research reaffirmed a “buy” rating on shares of RH in a research report on Wednesday, November 15th. Finally, Bank of America lifted their target price on RH from $50.00 to $60.00 and gave the company an “underperform” rating in a research report on Monday, November 20th. Three analysts have rated the stock with a sell rating, twelve have assigned a hold rating and seven have assigned a buy rating to the company. RH currently has an average rating of “Hold” and a consensus target price of $77.37.
In other RH news, insider Karen Boone sold 22,000 shares of the business’s stock in a transaction that occurred on Thursday, December 14th. The stock was sold at an average price of $99.60, for a total transaction of $2,191,200.00. Following the transaction, the insider now owns 25,430 shares of the company’s stock, valued at $2,532,828. The sale was disclosed in a document filed with the SEC, which is available through this link. 18.80% of the stock is owned by insiders.
Several large investors have recently modified their holdings of the company. D.B. Root & Company LLC bought a new stake in shares of RH during the fourth quarter worth approximately $768,000. Xact Kapitalforvaltning AB bought a new stake in shares of RH during the fourth quarter worth approximately $263,000. MetLife Investment Advisors LLC bought a new stake in shares of RH during the fourth quarter worth approximately $812,000. Verition Fund Management LLC boosted its holdings in shares of RH by 118.8% during the fourth quarter. Verition Fund Management LLC now owns 3,379 shares of the company’s stock worth $291,000 after acquiring an additional 21,379 shares during the period. Finally, LPL Financial LLC bought a new stake in shares of RH during the fourth quarter worth approximately $224,000.
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RH, formerly Restoration Hardware Holdings, Inc, is a retailer in the home furnishings marketplace. As of January 28, 2017, the Company had two segments: RH Segment and Waterworks. It offers merchandise assortments across a range of categories, including furniture, lighting, textiles, bathware, decor, outdoor and garden, tableware, and child and teen furnishings.
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