Lazard Asset Management LLC Buys 5,565 Shares of RH (NYSE:RH)

Lazard Asset Management LLC boosted its stake in shares of RH (NYSE:RH) by 68.7% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 13,660 shares of the company’s stock after buying an additional 5,565 shares during the period. Lazard Asset Management LLC’s holdings in RH were worth $4,757,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of RH. Norges Bank bought a new position in RH in the 4th quarter valued at $38,736,000. Senvest Management LLC boosted its position in RH by 47.4% in the 4th quarter. Senvest Management LLC now owns 349,517 shares of the company’s stock valued at $101,877,000 after buying an additional 112,455 shares during the period. Granahan Investment Management LLC purchased a new stake in RH in the 4th quarter valued at about $24,915,000. Long Walk Management LP bought a new position in RH in the 4th quarter worth about $23,318,000. Finally, Kettle Hill Capital Management LLC purchased a new position in shares of RH during the fourth quarter worth approximately $17,574,000. 90.17% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages recently issued reports on RH. The Goldman Sachs Group lowered their price target on RH from $264.00 to $226.00 and set a “sell” rating for the company in a report on Monday, June 17th. StockNews.com raised RH to a “sell” rating in a research report on Friday, June 21st. Wells Fargo & Company decreased their price objective on RH from $360.00 to $350.00 and set an “overweight” rating for the company in a report on Friday, June 14th. Robert W. Baird dropped their target price on shares of RH from $300.00 to $275.00 and set a “neutral” rating on the stock in a report on Friday, June 14th. Finally, Barclays boosted their price target on shares of RH from $293.00 to $340.00 and gave the company an “equal weight” rating in a report on Monday, April 1st. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the stock. According to MarketBeat, RH has a consensus rating of “Hold” and an average price target of $310.79.

Insiders Place Their Bets

In related news, CEO Gary G. Friedman purchased 34,200 shares of the firm’s stock in a transaction on Tuesday, June 25th. The stock was acquired at an average price of $215.00 per share, with a total value of $7,353,000.00. Following the completion of the acquisition, the chief executive officer now owns 3,339,263 shares in the company, valued at approximately $717,941,545. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, insider Eri Chaya sold 100,000 shares of the company’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $279.92, for a total value of $27,992,000.00. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Gary G. Friedman purchased 34,200 shares of RH stock in a transaction on Tuesday, June 25th. The shares were acquired at an average cost of $215.00 per share, with a total value of $7,353,000.00. Following the completion of the transaction, the chief executive officer now directly owns 3,339,263 shares in the company, valued at approximately $717,941,545. The disclosure for this purchase can be found here. 28.10% of the stock is owned by insiders.

RH Price Performance

RH stock opened at $282.05 on Monday. RH has a 1-year low of $207.26 and a 1-year high of $406.38. The business has a fifty day moving average price of $255.25 and a 200-day moving average price of $266.43. The stock has a market capitalization of $5.20 billion, a price-to-earnings ratio of 77.83, a PEG ratio of 1.07 and a beta of 2.42.

RH (NYSE:RH) last issued its quarterly earnings results on Thursday, June 13th. The company reported ($0.40) earnings per share for the quarter, missing the consensus estimate of ($0.08) by ($0.32). RH had a negative return on equity of 29.15% and a net margin of 2.72%. The business had revenue of $726.96 million during the quarter, compared to analyst estimates of $725.15 million. During the same period in the prior year, the business posted $2.21 EPS. RH’s revenue was down 1.7% compared to the same quarter last year. On average, equities research analysts anticipate that RH will post 8.01 earnings per share for the current fiscal year.

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.