National Bank Financial Boosts Richelieu Hardware Ltd. (RCH) Price Target to C$36.00

Richelieu Hardware Ltd. (TSE:RCH) had its target price raised by National Bank Financial from C$33.50 to C$36.00 in a report released on Friday. They currently have an outperform rating on the stock. National Bank Financial also issued estimates for Richelieu Hardware’s FY2019 earnings at $1.43 EPS.

Separately, Scotiabank increased their price target on Richelieu Hardware from C$29.50 to C$30.00 and gave the company a sector perform rating in a research note on Friday, July 7th.

Richelieu Hardware (RCH) opened at 33.48 on Friday. Richelieu Hardware has a one year low of $24.65 and a one year high of $33.68. The company’s 50-day moving average price is $31.28 and its 200 day moving average price is $30.43. The firm has a market capitalization of $1.94 billion and a PE ratio of 29.60.

Richelieu Hardware (TSE:RCH) last issued its quarterly earnings results on Thursday, July 6th. The company reported C$0.30 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of C$0.30. The firm had revenue of C$243.27 million during the quarter, compared to analyst estimates of C$232.60 million. Richelieu Hardware had a return on equity of 17.27% and a net margin of 7.25%. On average, analysts forecast that Richelieu Hardware will post $1.23 earnings per share for the current year.

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In other news, insider Christian Dion sold 1,000 shares of the firm’s stock in a transaction on Monday, July 17th. The stock was sold at an average price of C$31.56, for a total transaction of C$31,560.00. Also, Director Richard Lord sold 149,900 shares of the firm’s stock in a transaction on Friday, July 14th. The stock was sold at an average price of C$31.50, for a total value of C$4,721,850.00. Over the last three months, insiders have sold 167,823 shares of company stock valued at $5,296,172.

Richelieu Hardware Company Profile

Richelieu Hardware Ltd. is a distributor, importer and manufacturer of specialty hardware and complementary products. The Company’s product categories include furniture, glass and building decorative and functional hardware, lighting systems, finishing and decorating products, ergonomic workstation components, kitchen and closet storage solutions, sliding door systems, decorative and functional panels, window and door hardware, glass hardware and floor protection products.

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