Bank of Nova Scotia Takes $5.44 Million Position in RH (NYSE:RH)

Bank of Nova Scotia bought a new stake in RH (NYSE:RH) during the fourth quarter, HoldingsChannel.com reports. The fund bought 13,822 shares of the company’s stock, valued at approximately $5,440,000.

Several other hedge funds have also recently added to or reduced their stakes in the business. PNC Financial Services Group Inc. lifted its holdings in shares of RH by 0.8% during the fourth quarter. PNC Financial Services Group Inc. now owns 3,872 shares of the company’s stock valued at $1,524,000 after acquiring an additional 29 shares during the period. Steward Partners Investment Advisory LLC increased its position in shares of RH by 6.0% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 549 shares of the company’s stock worth $216,000 after purchasing an additional 31 shares in the last quarter. Insight Advisors LLC PA lifted its holdings in RH by 2.3% during the 4th quarter. Insight Advisors LLC PA now owns 1,449 shares of the company’s stock valued at $571,000 after purchasing an additional 33 shares during the last quarter. US Bancorp DE boosted its position in RH by 14.6% in the fourth quarter. US Bancorp DE now owns 283 shares of the company’s stock valued at $111,000 after buying an additional 36 shares in the last quarter. Finally, UMB Bank n.a. grew its stake 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 buying an additional 39 shares during the last quarter. Institutional investors and hedge funds own 90.17% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on RH shares. UBS Group cut their target price on shares of RH from $250.00 to $235.00 and set a “neutral” rating for the company in a research note on Thursday, April 3rd. Telsey Advisory Group cut their price objective on RH from $420.00 to $280.00 and set an “outperform” rating for the company in a research report on Thursday, April 3rd. Barclays decreased their target price on RH from $515.00 to $436.00 and set an “overweight” rating on the stock in a report on Thursday, April 3rd. Robert W. Baird cut their price target on RH from $400.00 to $215.00 and set a “neutral” rating for the company in a report on Thursday, April 3rd. Finally, StockNews.com downgraded shares of RH from a “hold” rating to a “sell” rating in a research report on Wednesday, March 19th. Three research analysts have rated the stock with a sell rating, five have issued a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $283.94.

Insider Buying and Selling at RH

In related news, insider Eri Chaya sold 25,000 shares of RH stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $450.45, for a total transaction of $11,261,250.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Christina Hargarten sold 5,280 shares of the business’s stock in a transaction that occurred on Friday, January 17th. The shares were sold at an average price of $447.20, for a total transaction of $2,361,216.00. Following the transaction, the chief accounting officer now owns 484 shares of the company’s stock, valued at approximately $216,444.80. This represents a 91.60 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 55,880 shares of company stock valued at $24,550,754. 28.10% of the stock is currently owned by company insiders.

RH Price Performance

RH opened at $164.81 on Friday. The firm has a 50 day simple moving average of $277.36 and a 200 day simple moving average of $339.84. RH has a fifty-two week low of $123.03 and a fifty-two week high of $457.26. The company has a market cap of $3.09 billion, a price-to-earnings ratio of 47.36, a price-to-earnings-growth ratio of 2.65 and a beta of 2.44.

RH (NYSE:RH) last issued 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 net margin of 2.25% and a negative return on equity of 35.72%. The business had revenue of $812.41 million for the quarter, compared to the consensus estimate of $828.21 million. During the same quarter in the previous year, the firm posted $0.72 EPS. The business’s revenue was up 10.0% on a year-over-year basis. As a group, analysts expect 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.