Restoration Hardware Holdings Inc. (RH) Shares Gap Up After Analyst Upgrade

Restoration Hardware Holdings Inc. (NYSE:RH)’s share price gapped up before the market opened on Friday after Loop Capital raised their price target on the stock to $101.00. The stock had previously closed at $66.50, but opened at $83.30. Loop Capital currently has a hold rating on the stock. Restoration Hardware Holdings shares last traded at $104.81, with a volume of 7090300 shares.

Other equities analysts have also issued research reports about the company. Bank of America Corporation raised their price objective on Restoration Hardware Holdings from $44.00 to $50.00 and gave the stock a “buy” rating in a report on Thursday, September 7th. Zacks Investment Research raised Restoration Hardware Holdings from a “hold” rating to a “buy” rating and set a $56.00 price objective on the stock in a report on Thursday, September 7th. Buckingham Research raised Restoration Hardware Holdings from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $46.00 to $88.00 in a report on Thursday, September 7th. BidaskClub lowered Restoration Hardware Holdings from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 25th. Finally, Deutsche Bank AG raised Restoration Hardware Holdings from a “hold” rating to a “buy” rating and raised their price objective for the stock from $80.00 to $84.00 in a report on Tuesday, September 26th. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and seven have assigned a buy rating to the company. Restoration Hardware Holdings presently has a consensus rating of “Hold” and an average price target of $66.02.

In related news, CEO Gary G. Friedman purchased 14,000 shares of Restoration Hardware Holdings stock in a transaction dated Thursday, September 14th. The stock was bought at an average cost of $70.94 per share, for a total transaction of $993,160.00. Following the transaction, the chief executive officer now owns 2,212,051 shares in the company, valued at $156,922,897.94. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Gary G. Friedman purchased 13,959 shares of Restoration Hardware Holdings stock in a transaction dated Tuesday, September 26th. The shares were bought at an average price of $71.64 per share, with a total value of $1,000,022.76. Following the completion of the transaction, the chief executive officer now owns 2,235,410 shares in the company, valued at approximately $160,144,772.40. The disclosure for this purchase can be found here. 18.80% of the stock is owned by company insiders.

Hedge funds have recently bought and sold shares of the company. Flinton Capital Management LLC lifted its position in shares of Restoration Hardware Holdings by 41.4% during the 2nd quarter. Flinton Capital Management LLC now owns 1,584 shares of the company’s stock valued at $102,000 after acquiring an additional 464 shares during the period. Riverhead Capital Management LLC lifted its position in shares of Restoration Hardware Holdings by 58.2% during the 2nd quarter. Riverhead Capital Management LLC now owns 1,898 shares of the company’s stock valued at $122,000 after acquiring an additional 698 shares during the period. Public Employees Retirement System of Ohio lifted its position in shares of Restoration Hardware Holdings by 12.6% during the 1st quarter. Public Employees Retirement System of Ohio now owns 2,286 shares of the company’s stock valued at $106,000 after acquiring an additional 255 shares during the period. PNC Financial Services Group Inc. lifted its position in shares of Restoration Hardware Holdings by 59.1% during the 1st quarter. PNC Financial Services Group Inc. now owns 3,575 shares of the company’s stock valued at $166,000 after acquiring an additional 1,328 shares during the period. Finally, Cornerstone Capital Management Holdings LLC. acquired a new stake in shares of Restoration Hardware Holdings during the 3rd quarter valued at approximately $274,000. Institutional investors own 95.71% of the company’s stock.

The company has a debt-to-equity ratio of -26.72, a quick ratio of 0.27 and a current ratio of 1.50. The stock has a market capitalization of $2,220.00, a PE ratio of 56.49, a PEG ratio of 1.14 and a beta of 1.68.

Restoration Hardware Holdings (NYSE:RH) last posted its quarterly earnings results on Wednesday, September 6th. The company reported $0.65 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.47 by $0.18. The company had revenue of $615.30 million for the quarter, compared to analyst estimates of $606.38 million. During the same quarter in the previous year, the business posted $0.44 earnings per share. Restoration Hardware Holdings’s revenue was up 13.2% on a year-over-year basis. analysts anticipate that Restoration Hardware Holdings Inc. will post 2.6 earnings per share for the current fiscal year.

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Restoration Hardware Holdings Company Profile

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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