Richelieu Hardware (TSE:RCH) Hits New 52-Week Low – Here’s Why

Richelieu Hardware Ltd. (TSE:RCH) shares hit a new 52-week low during trading on Tuesday . The stock traded as low as C$37.13 and last traded at C$37.18, with a volume of 25462 shares. The stock had previously closed at C$38.04.

Analysts Set New Price Targets

Separately, CIBC lowered their target price on Richelieu Hardware from C$45.00 to C$44.00 and set a “neutral” rating on the stock in a report on Monday, July 15th.

Richelieu Hardware Stock Down 0.6 %

The company has a debt-to-equity ratio of 26.31, a current ratio of 3.46 and a quick ratio of 0.72. The company has a 50-day moving average price of C$39.15 and a 200 day moving average price of C$39.42. The firm has a market capitalization of C$2.04 billion, a PE ratio of 22.88, a P/E/G ratio of 0.77 and a beta of 0.94.

Richelieu Hardware (TSE:RCH) last posted its earnings results on Thursday, October 10th. The company reported C$0.41 earnings per share for the quarter, missing the consensus estimate of C$0.44 by C($0.03). Richelieu Hardware had a net margin of 4.97% and a return on equity of 10.32%. The company had revenue of C$467.75 million for the quarter, compared to analysts’ expectations of C$468.40 million.

Richelieu Hardware Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 7th. Shareholders of record on Thursday, October 24th will be given a dividend of $0.15 per share. The ex-dividend date is Thursday, October 24th. This represents a $0.60 dividend on an annualized basis and a yield of 1.64%. Richelieu Hardware’s dividend payout ratio (DPR) is presently 37.50%.

Insider Buying and Selling at Richelieu Hardware

In other Richelieu Hardware news, Senior Officer Guy Grenier sold 3,000 shares of the stock in a transaction on Monday, August 26th. The stock was sold at an average price of C$38.98, for a total value of C$116,943.00. In other Richelieu Hardware news, Director Lucie Chabot purchased 1,300 shares of Richelieu Hardware stock in a transaction dated Wednesday, October 16th. The stock was acquired at an average price of C$38.00 per share, for a total transaction of C$49,393.50. Also, Senior Officer Guy Grenier sold 3,000 shares of the business’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of C$38.98, for a total transaction of C$116,943.00. Company insiders own 7.62% of the company’s stock.

About Richelieu Hardware

Richelieu Hardware Ltd. manufactures, imports, and distributes specialty hardware and complementary products in Canada and the United States. The company’s principal product categories include furniture, glass and building decorative, and functional hardware; lighting systems; finishing and decorating products; ergonomic workstation components; kitchen and closet storage solutions; sliding door systems; decorative and functional panels; high-pressure laminates; railing and balusters; floor protection products; and power tool accessories.