Morgan Stanley Lowers RH (NYSE:RH) Price Target to $300.00

RH (NYSE:RH) had its price objective lowered by Morgan Stanley from $530.00 to $300.00 in a report released on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Morgan Stanley’s price objective suggests a potential upside of 106.37% from the company’s previous close.

RH has been the subject of several other reports. Robert W. Baird reduced their target price on RH from $400.00 to $215.00 and set a “neutral” rating for the company in a report on Thursday. The Goldman Sachs Group upgraded shares of RH from a “sell” rating to a “neutral” rating and boosted their price objective for the stock from $261.00 to $374.00 in a research note on Thursday, January 30th. Bank of America lowered their target price on shares of RH from $510.00 to $410.00 and set a “buy” rating on the stock in a research note on Wednesday, March 26th. Stifel Nicolaus dropped their target price on shares of RH from $500.00 to $450.00 and set a “buy” rating on the stock in a report on Monday, March 31st. Finally, Telsey Advisory Group decreased their price target on shares of RH from $420.00 to $280.00 and set an “outperform” rating for the company in a report on Thursday. Three research analysts have rated the stock with a sell rating, five have issued a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $293.81.

RH Stock Down 2.7 %

Shares of RH opened at $145.37 on Thursday. The firm has a market cap of $2.70 billion, a price-to-earnings ratio of 41.77, a price-to-earnings-growth ratio of 2.65 and a beta of 2.44. The company’s fifty day moving average is $312.06 and its 200-day moving average is $348.23. RH has a 12 month low of $123.03 and a 12 month high of $457.26.

RH (NYSE:RH) last posted its earnings results on Wednesday, April 2nd. The company reported $1.58 EPS for the quarter, missing the consensus estimate of $1.91 by ($0.33). RH had a negative return on equity of 35.72% and a net margin of 2.25%. The business had revenue of $812.41 million for the quarter, compared to analyst estimates of $828.21 million. During the same period in the previous year, the company earned $0.72 earnings per share. The company’s quarterly revenue was up 10.0% compared to the same quarter last year. As a group, research analysts predict that RH will post 4.39 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Keith Belling sold 500 shares of the stock in a transaction on Monday, January 6th. The shares were sold at an average price of $417.85, for a total value of $208,925.00. Following the completion of the transaction, the director now owns 4,970 shares in the company, valued at approximately $2,076,714.50. This represents a 9.14 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Edward T. Lee sold 600 shares of RH stock in a transaction dated Friday, January 17th. The shares were sold at an average price of $446.73, for a total transaction of $268,038.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 66,380 shares of company stock worth $28,922,379. 28.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On RH

A number of hedge funds have recently modified their holdings of RH. FMR LLC grew its position in RH by 0.7% in the fourth quarter. FMR LLC now owns 2,790,314 shares of the company’s stock valued at $1,098,240,000 after acquiring an additional 18,040 shares during the period. Vanguard Group Inc. grew its holdings in shares of RH by 1.3% in the 4th quarter. Vanguard Group Inc. now owns 1,402,010 shares of the company’s stock worth $551,817,000 after purchasing an additional 18,389 shares during the last quarter. Anomaly Capital Management LP increased its position in shares of RH by 9.6% during the 4th quarter. Anomaly Capital Management LP now owns 481,111 shares of the company’s stock worth $189,360,000 after purchasing an additional 41,986 shares in the last quarter. Alliancebernstein L.P. increased its position in shares of RH by 1,960.8% during the 4th quarter. Alliancebernstein L.P. now owns 363,698 shares of the company’s stock worth $143,148,000 after purchasing an additional 346,050 shares in the last quarter. Finally, Senvest Management LLC lifted its holdings in RH by 35.6% during the 4th quarter. Senvest Management LLC now owns 315,368 shares of the company’s stock valued at $124,126,000 after purchasing an additional 82,742 shares during the last quarter. 90.17% of the stock is owned by institutional investors and hedge funds.

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.