CIBC Asset Management Inc Takes $219,000 Position in RH (NYSE:RH)

CIBC Asset Management Inc bought a new position in shares of RH (NYSE:RH) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 556 shares of the company’s stock, valued at approximately $219,000.

Other institutional investors have also added to or reduced their stakes in the company. Versant Capital Management Inc boosted its position in RH by 7,000.0% during the fourth quarter. Versant Capital Management Inc now owns 71 shares of the company’s stock worth $28,000 after purchasing an additional 70 shares during the period. UMB Bank n.a. lifted its position in RH by 125.8% during the fourth quarter. UMB Bank n.a. now owns 70 shares of the company’s stock worth $28,000 after purchasing an additional 39 shares during the period. GAMMA Investing LLC raised its stake in RH by 533.3% during the fourth quarter. GAMMA Investing LLC now owns 76 shares of the company’s stock worth $30,000 after acquiring an additional 64 shares in the last quarter. Blue Trust Inc. raised its stake in RH by 308.3% during the third quarter. Blue Trust Inc. now owns 98 shares of the company’s stock worth $33,000 after acquiring an additional 74 shares in the last quarter. Finally, Golden State Wealth Management LLC acquired a new position in RH during the fourth quarter worth about $68,000. 90.17% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at RH

In other news, Director Keith Belling sold 500 shares of the company’s stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $415.00, for a total transaction of $207,500.00. Following the transaction, the director now directly owns 5,470 shares of the company’s stock, valued at $2,270,050. This represents a 8.38 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Edward T. Lee sold 600 shares of the company’s stock in a transaction on Friday, January 17th. The shares were sold at an average price of $446.73, for a total value of $268,038.00. The disclosure for this sale can be found here. Insiders have sold 66,880 shares of company stock worth $29,129,879 over the last ninety days. 28.10% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Telsey Advisory Group raised RH from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $485.00 to $500.00 in a research note on Thursday, December 19th. The Goldman Sachs Group upgraded RH from a “sell” rating to a “neutral” rating and increased their target price for the stock from $261.00 to $374.00 in a report on Thursday, January 30th. Wells Fargo & Company increased their price target on RH from $425.00 to $500.00 and gave the company an “overweight” rating in a research report on Friday, December 13th. Stifel Nicolaus raised their target price on RH from $420.00 to $500.00 and gave the company a “buy” rating in a research report on Monday, December 16th. Finally, Morgan Stanley raised RH from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $435.00 to $530.00 in a research report on Monday, January 13th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $431.60.

RH Price Performance

NYSE:RH opened at $348.73 on Wednesday. The business has a 50 day moving average of $405.37 and a 200 day moving average of $351.63. The company has a market capitalization of $6.49 billion, a price-to-earnings ratio of 100.21, a PEG ratio of 2.65 and a beta of 2.42. RH has a 1-year low of $212.43 and a 1-year high of $457.26.

RH (NYSE:RH) last announced its quarterly earnings results on Thursday, December 12th. The company reported $2.48 EPS for the quarter, missing analysts’ consensus estimates of $2.67 by ($0.19). RH had a negative return on equity of 35.72% and a net margin of 2.25%. The company had revenue of $811.73 million during the quarter, compared to analysts’ expectations of $812.19 million. During the same period last year, the firm earned ($0.42) earnings per share. RH’s revenue for the quarter was up 8.1% on a year-over-year basis. As a group, sell-side analysts anticipate that RH will post 4.39 EPS for the current year.

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.