Restoration Hardware (NYSE:RH) Stock Price Up 5.1% After Earnings Beat

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Restoration Hardware Holdings, Inc (NYSE:RH) shares rose 5.1% on Wednesday after the company announced better than expected quarterly earnings. The company traded as high as $171.13 and last traded at $166.95, approximately 4,238,500 shares traded hands during mid-day trading. An increase of 302% from the average daily volume of 1,053,566 shares. The stock had previously closed at $158.88.

The company reported $3.20 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.70 by $0.50. Restoration Hardware had a net margin of 6.22% and a negative return on equity of 979.13%. The company had revenue of $706.51 million during the quarter, compared to analysts’ expectations of $698.00 million.

A number of equities analysts recently weighed in on RH shares. Loop Capital boosted their price target on shares of Restoration Hardware to $180.00 and gave the stock a “buy” rating in a research report on Wednesday. They noted that the move was a valuation call. Telsey Advisory Group raised their target price on shares of Restoration Hardware from $140.00 to $175.00 and gave the stock a “market perform” rating in a research note on Wednesday. Wells Fargo & Co restated an “outperform” rating and set a $175.00 target price (up from $150.00) on shares of Restoration Hardware in a report on Wednesday. Cowen restated a “hold” rating and issued a $120.00 price target on shares of Restoration Hardware in a research report on Tuesday, June 18th. Finally, Gordon Haskett raised Restoration Hardware from a “reduce” rating to a “hold” rating and set a $86.50 price target for the company in a report on Tuesday, June 4th. Twelve analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $157.86.

In other Restoration Hardware news, Director Mark S. Demilio sold 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $145.00, for a total value of $290,000.00. Following the transaction, the director now directly owns 1,917 shares of the company’s stock, valued at approximately $277,965. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 36.40% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Mason Street Advisors LLC lifted its position in Restoration Hardware by 3.4% in the 1st quarter. Mason Street Advisors LLC now owns 5,996 shares of the company’s stock valued at $617,000 after purchasing an additional 198 shares during the last quarter. Griffin Asset Management Inc. acquired a new position in Restoration Hardware during the 2nd quarter worth $62,000. Finally, Tiverton Asset Management LLC bought a new position in shares of Restoration Hardware in the second quarter worth $56,000.

The company has a market capitalization of $2.85 billion, a price-to-earnings ratio of 19.55, a price-to-earnings-growth ratio of 1.30 and a beta of 1.77. The business has a fifty day moving average price of $139.93 and a 200 day moving average price of $121.20.

Restoration Hardware Company Profile (NYSE:RH)

RH, together with its subsidiaries, operates as a retailer in the home furnishings. It offers products in various categories, including furniture, lighting, textiles, bathware, décor, outdoor and garden, tableware, and child and teen furnishings. The company provides its products through its retail galleries; and Source Books, a series of catalogs, as well as online through rh.com, restorationhardware.com, rhbabyandchild.com, rhteen.com, and rhmodern.com, as well as waterworks.com.

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