Norges Bank Acquires New Stake in RH (NYSE:RH)

Norges Bank bought a new stake in RH (NYSE:RH) during the 4th quarter, HoldingsChannel.com reports. The institutional investor bought 137,997 shares of the company’s stock, valued at approximately $54,314,000.

A number of other institutional investors have also recently made changes to their positions in the company. Versant Capital Management Inc boosted its holdings in RH by 7,000.0% in the 4th quarter. Versant Capital Management Inc now owns 71 shares of the company’s stock worth $28,000 after buying an additional 70 shares during the period. UMB Bank n.a. boosted its holdings in shares of RH by 125.8% in the fourth quarter. UMB Bank n.a. now owns 70 shares of the company’s stock worth $28,000 after acquiring an additional 39 shares during the period. GAMMA Investing LLC grew its position in shares of RH by 533.3% in the fourth quarter. GAMMA Investing LLC now owns 76 shares of the company’s stock valued at $30,000 after purchasing an additional 64 shares in the last quarter. Rakuten Securities Inc. raised its stake in shares of RH by 180.0% during the 4th quarter. Rakuten Securities Inc. now owns 112 shares of the company’s stock valued at $44,000 after purchasing an additional 72 shares during the period. Finally, Golden State Wealth Management LLC purchased a new stake in RH during the 4th quarter worth about $68,000. Hedge funds and other institutional investors own 90.17% of the company’s stock.

RH Trading Down 2.7 %

Shares of NYSE:RH opened at $145.37 on Friday. The stock has a market capitalization of $2.70 billion, a P/E ratio of 41.77, a price-to-earnings-growth ratio of 2.65 and a beta of 2.44. The stock’s 50-day moving average price is $312.06 and its 200-day moving average price 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 quarterly earnings results on Wednesday, April 2nd. The company reported $1.58 earnings per share (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 company 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 business earned $0.72 earnings per share. RH’s revenue was up 10.0% compared to the same quarter last year. As a group, research analysts predict that RH will post 4.39 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on RH. Wedbush decreased their price target on RH from $500.00 to $350.00 and set an “outperform” rating on the stock in a research report on Wednesday, March 26th. Wells Fargo & Company lowered their target price on shares of RH from $375.00 to $300.00 and set an “overweight” rating on the stock in a research note on Thursday. UBS Group reduced their price target on shares of RH from $250.00 to $235.00 and set a “neutral” rating for the company in a research report on Thursday. Guggenheim lowered their price objective on RH from $500.00 to $300.00 and set a “buy” rating on the stock in a research report on Thursday. Finally, Bank of America cut RH from a “buy” rating to an “underperform” rating and reduced their target price for the stock from $410.00 to $130.00 in a research report on Thursday. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $293.81.

Insider Buying and Selling

In related news, insider Eri Chaya sold 10,000 shares of the business’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $416.27, for a total transaction of $4,162,700.00. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Keith Belling sold 500 shares of the stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $417.85, for a total value of $208,925.00. Following the completion of the sale, the director now owns 4,970 shares of the company’s stock, valued at approximately $2,076,714.50. This trade represents a 9.14 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 66,380 shares of company stock valued at $28,922,379 over the last three months. 28.10% of the stock is owned by company insiders.

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.