Citigroup Increases Restoration Hardware (RH) Price Target to $135.00

Restoration Hardware (NYSE:RH) had its price objective increased by investment analysts at Citigroup from $1.37 to $135.00 in a research note issued on Wednesday. The firm currently has a “buy” rating on the stock. Citigroup’s target price would indicate a potential upside of 29.97% from the stock’s current price.

Several other brokerages have also issued reports on RH. Barclays increased their price target on shares of Restoration Hardware to $120.00 and gave the stock an “equal weight” rating in a research note on Wednesday. Moffett Nathanson started coverage on shares of Restoration Hardware in a research note on Monday. They issued a “neutral” rating for the company. BidaskClub lowered shares of Restoration Hardware from a “hold” rating to a “sell” rating in a research note on Wednesday, August 9th. Loop Capital reissued a “hold” rating and set a $55.00 price objective on shares of Restoration Hardware in a research report on Friday, September 8th. Finally, Cowen reissued a “hold” rating and set a $115.00 price objective on shares of Restoration Hardware in a research report on Wednesday, November 22nd. Three research analysts have rated the stock with a sell rating, thirteen have given a hold rating and six have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $78.91.

Restoration Hardware (NYSE:RH) opened at $103.87 on Wednesday. The company has a debt-to-equity ratio of -26.72, a current ratio of 1.50 and a quick ratio of 0.27. Restoration Hardware has a 1-year low of $24.41 and a 1-year high of $107.48. The company has a market cap of $2,165.75, a price-to-earnings ratio of 65.22, a price-to-earnings-growth ratio of 1.21 and a beta of 1.71.

Restoration Hardware (NYSE:RH) last issued its quarterly earnings data on Tuesday, December 5th. The company reported $1.04 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $1.04. The company had revenue of $592.50 million during the quarter, compared to the consensus estimate of $592.46 million. During the same quarter last year, the company posted $0.20 earnings per share. The firm’s revenue for the quarter was up 7.9% compared to the same quarter last year. sell-side analysts predict that Restoration Hardware will post 2.9 earnings per share for the current fiscal year.

In other Restoration Hardware news, CEO Gary G. Friedman acquired 13,959 shares of the company’s stock in a transaction that occurred on 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 acquisition, the chief executive officer now owns 2,235,410 shares in the company, valued at approximately $160,144,772.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Gary G. Friedman acquired 14,000 shares of the company’s stock in a transaction that occurred on Thursday, September 14th. The stock was acquired at an average cost of $70.94 per share, for a total transaction of $993,160.00. Following the acquisition, the chief executive officer now owns 2,212,051 shares of the company’s stock, valued at approximately $156,922,897.94. The disclosure for this purchase can be found here. Company insiders own 18.80% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RH. Teachers Advisors LLC bought a new stake in Restoration Hardware during the 1st quarter worth approximately $3,165,000. Public Employees Retirement System of Ohio raised its stake in Restoration Hardware by 12.6% during the 1st quarter. Public Employees Retirement System of Ohio now owns 2,286 shares of the company’s stock worth $106,000 after acquiring an additional 255 shares during the period. Riverhead Capital Management LLC raised its stake in Restoration Hardware by 58.2% during the 2nd quarter. Riverhead Capital Management LLC now owns 1,898 shares of the company’s stock worth $122,000 after acquiring an additional 698 shares during the period. Flinton Capital Management LLC raised its stake in Restoration Hardware by 41.4% during the 2nd quarter. Flinton Capital Management LLC now owns 1,584 shares of the company’s stock worth $102,000 after acquiring an additional 464 shares during the period. Finally, Cornerstone Capital Management Holdings LLC. bought a new stake in shares of Restoration Hardware during the third quarter valued at approximately $274,000. Institutional investors own 95.71% of the company’s stock.

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About Restoration Hardware

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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