Commonwealth Equity Services LLC Acquires 1,591 Shares of RH (NYSE:RH)

Commonwealth Equity Services LLC increased its holdings in shares of RH (NYSE:RH) by 187.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,438 shares of the company’s stock after acquiring an additional 1,591 shares during the period. Commonwealth Equity Services LLC’s holdings in RH were worth $596,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Norges Bank purchased a new position in shares of RH during the fourth quarter valued at approximately $38,736,000. Granahan Investment Management LLC purchased a new stake in RH during the fourth quarter valued at approximately $24,915,000. Price T Rowe Associates Inc. MD increased its holdings in RH by 10.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 665,383 shares of the company’s stock valued at $231,728,000 after buying an additional 62,198 shares during the last quarter. Bamco Inc. NY increased its holdings in RH by 128.3% during the first quarter. Bamco Inc. NY now owns 94,998 shares of the company’s stock valued at $33,084,000 after buying an additional 53,395 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its position in shares of RH by 24.2% in the second quarter. Allspring Global Investments Holdings LLC now owns 227,247 shares of the company’s stock worth $55,548,000 after purchasing an additional 44,278 shares during the period. 90.17% of the stock is owned by hedge funds and other institutional investors.

RH Stock Performance

NYSE RH opened at $344.38 on Friday. The company has a market capitalization of $6.35 billion, a price-to-earnings ratio of 95.40, a price-to-earnings-growth ratio of 1.70 and a beta of 2.42. The company’s 50-day simple moving average is $272.03 and its two-hundred day simple moving average is $268.65. RH has a one year low of $207.26 and a one year high of $354.86.

RH (NYSE:RH) last posted its earnings results on Thursday, September 12th. The company reported $1.69 EPS for the quarter, beating analysts’ consensus estimates of $1.56 by $0.13. RH had a net margin of 1.13% and a negative return on equity of 11.29%. The business had revenue of $829.66 million for the quarter, compared to the consensus estimate of $824.52 million. During the same quarter last year, the firm posted $3.93 EPS. The company’s revenue for the quarter was up 3.6% on a year-over-year basis. Equities analysts expect that RH will post 6.2 earnings per share for the current fiscal year.

Insider Transactions at RH

In other news, CEO Gary G. Friedman acquired 34,200 shares of the business’s stock in a transaction dated Tuesday, June 25th. The shares were purchased at an average price of $215.00 per share, with a total value of $7,353,000.00. Following the transaction, the chief executive officer now directly owns 3,339,263 shares in the company, valued at $717,941,545. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other RH news, insider Stefan Duban sold 4,285 shares of RH stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $346.37, for a total transaction of $1,484,195.45. Following the completion of the sale, the insider now directly owns 78 shares in the company, valued at approximately $27,016.86. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Gary G. Friedman bought 34,200 shares of the firm’s stock in a transaction that occurred on Tuesday, June 25th. The stock was purchased at an average price of $215.00 per share, with a total value of $7,353,000.00. Following the completion of the purchase, the chief executive officer now owns 3,339,263 shares in the company, valued at $717,941,545. The disclosure for this purchase can be found here. Insiders own 28.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on RH shares. BNP Paribas raised shares of RH to a “hold” rating in a research note on Friday, June 14th. JPMorgan Chase & Co. dropped their price objective on shares of RH from $345.00 to $338.00 and set an “overweight” rating for the company in a research note on Monday, September 16th. Wedbush lifted their price objective on shares of RH from $250.00 to $310.00 and gave the stock a “neutral” rating in a research note on Friday, September 13th. Citigroup raised their target price on shares of RH from $340.00 to $355.00 and gave the stock a “buy” rating in a report on Friday, September 13th. Finally, Barclays lowered their target price on shares of RH from $340.00 to $320.00 and set an “equal weight” rating for the company in a report on Monday, September 16th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $322.54.

RH Profile

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.