Edward T. Lee, Chief Legal and Compliance Officer at RH (NYSE: RH), sold 2,000 shares of RH stock on October 18 for about $707,142. He also exercised options to acquire another 2,000 shares at $101.25 each, totaling $202,500. After these transactions, Lee no longer owns RH stock.
In recent earnings news, Restoration Hardware reported a 3.6% revenue increase in Q2 2024, reaching $830 million, with demand up by 7%. However, the company lowered its sales and EBIT forecasts for the year due to a slow response to new products. Analysts varied in their price target adjustments: Stifel raised its target to $375, Loop Capital to $320, CFRA to $309 despite lower earnings, and KeyBanc expressed caution about furniture demand. Conversely, TD Cowen boosted its target from $325 to $350, maintaining a Buy rating.
InvestingPro Insights
Edward T. Lee’s stock trades come as RH’s stock shows a strong momentum, with a 53.35% total return over the past year and a 29.94% rise in three months. The stock is trading near its 52-week high, indicating investor confidence.
RH has a high P/E ratio of 189.39, suggesting investor expectations for growth. Although revenue growth has slowed (-4.25% in the past year), RH retains a solid gross profit margin of 44.39%, showing its strength in the luxury market.
For more detailed insights, InvestingPro offers additional analysis on RH’s financial health and performance.
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