Edward T. Lee, RH’s Chief Legal and Compliance Officer, sold 2,000 shares of RH stock on October 18 for about $707,142. He also exercised options to buy another 2,000 shares for $202,500, leaving him without any RH stock.
In recent earnings news, Restoration Hardware saw a 3.6% revenue increase to $830 million and a 7% rise in demand for Q2 2024. However, they lowered their full-year sales forecast due to weak new product interest. Analysts have adjusted their price targets for RH, with Stifel raising it to $375 and CFRA to $309, while KeyBanc expressed concerns about short-term furniture demand.
InvestingPro Insights
Lee’s stock moves come as RH enjoys a strong stock performance, with a 53.35% total return over the past year and a 29.94% increase in three months. The stock is trading close to its 52-week high at 98.81%. InvestingPro notes RH’s high P/E ratio of 189.39 reflects expectations for significant growth, despite a recent slowdown in revenue growth.
RH maintains a healthy gross profit margin of 44.39%, positioning itself well in the luxury market. For deeper insights into RH’s financial health, InvestingPro offers additional tips.
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