Restoration Hardware Holdings Inc. (NYSE:RH) – KeyCorp raised their FY2018 earnings per share (EPS) estimates for Restoration Hardware in a research note issued to investors on Tuesday. KeyCorp analyst B. Thomas now anticipates that the company will post earnings per share of $2.93 for the year, up from their prior forecast of $2.88. KeyCorp also issued estimates for Restoration Hardware’s Q4 2018 earnings at $1.58 EPS.
Several other research firms have also issued reports on RH. Piper Jaffray Companies lifted their price objective on Restoration Hardware from $43.00 to $71.00 and gave the company a “neutral” rating in a research note on Thursday, September 7th. Citigroup raised Restoration Hardware from a “neutral” rating to a “buy” rating in a research note on Thursday, November 16th. Buckingham Research reissued a “buy” rating on shares of Restoration Hardware in a research note on Wednesday, November 15th. Stifel Nicolaus dropped their price objective on Restoration Hardware from $100.00 to $75.00 and set a “hold” rating for the company in a research note on Wednesday. Finally, Telsey Advisory Group reaffirmed a “market perform” rating on shares of Restoration Hardware in a research note on Thursday, November 16th. Three analysts have rated the stock with a sell rating, thirteen have issued a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $79.07.
Restoration Hardware (NYSE:RH) last posted its quarterly earnings data on Tuesday, December 5th. The company reported $1.04 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.04. The company had revenue of $592.50 million during the quarter, compared to analyst estimates of $592.46 million. Restoration Hardware had a return on equity of 20.04% and a net margin of 0.45%. The firm’s quarterly revenue was up 7.9% on a year-over-year basis. During the same quarter last year, the company earned $0.20 earnings per share.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Riverhead Capital Management LLC increased its holdings in Restoration Hardware by 58.2% during the 2nd quarter. Riverhead Capital Management LLC now owns 1,898 shares of the company’s stock valued at $122,000 after purchasing an additional 698 shares during the period. Teachers Advisors LLC purchased a new position in Restoration Hardware during the 1st quarter valued at about $3,165,000. Flinton Capital Management LLC increased its holdings in Restoration Hardware by 41.4% during the 2nd quarter. Flinton Capital Management LLC now owns 1,584 shares of the company’s stock valued at $102,000 after purchasing an additional 464 shares during the period. Public Employees Retirement System of Ohio increased its holdings in Restoration Hardware by 12.6% during the 1st quarter. Public Employees Retirement System of Ohio now owns 2,286 shares of the company’s stock valued at $106,000 after purchasing an additional 255 shares during the period. Finally, Cornerstone Capital Management Holdings LLC. purchased a new position in Restoration Hardware during the 3rd quarter valued at about $274,000. Hedge funds and other institutional investors own 95.71% of the company’s stock.
In related news, CEO Gary G. Friedman acquired 13,959 shares of the firm’s stock in a transaction dated Tuesday, September 26th. The shares were purchased at an average price of $71.64 per share, for a total transaction of $1,000,022.76. Following the completion of the acquisition, the chief executive officer now owns 2,235,410 shares in the company, valued at $160,144,772.40. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, CEO Gary G. Friedman acquired 14,000 shares of the firm’s stock in a transaction dated Thursday, September 14th. The stock was bought at an average price of $70.94 per share, for a total transaction of $993,160.00. Following the acquisition, the chief executive officer now owns 2,212,051 shares of the company’s stock, valued at approximately $156,922,897.94. The disclosure for this purchase can be found here. 18.80% of the stock is currently owned by insiders.
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About Restoration Hardware
RH, formerly Restoration Hardware Holdings, Inc, is a retailer in the home furnishings marketplace. As of January 28, 2017, the Company had two segments: RH Segment and Waterworks. It offers merchandise assortments across a range of categories, including furniture, lighting, textiles, bathware, decor, outdoor and garden, tableware, and child and teen furnishings.
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