Edward T. Lee, RH’s Chief Legal and Compliance Officer, sold 2,000 shares of RH on October 18, at prices between $353.55 and $353.6550, totaling around $707,142. He also exercised options to acquire 2,000 shares at $101.25 each, amounting to $202,500, and now holds no RH shares.
In recent earnings, Restoration Hardware reported a 3.6% revenue increase to $830 million and a 7% rise in demand for Q2 2024. However, the company lowered its full-year sales and EBIT forecasts due to slower new product response. Analysts are adjusting their price targets, with Stifel at $375 (Buy), Loop Capital at $320 (Hold), and TD Cowen raised from $325 to $350 (Buy), buoyed by optimism about RH’s future.
InvestingPro Insights
Lee’s stock moves come as RH posts a 53.35% total return over the past year and 29.94% in the last three months, with shares close to their 52-week high, indicating strong investor confidence. The stock trades at a high P/E ratio of 189.39, reflecting significant growth expectations. Despite a slight revenue dip (-4.25% year-over-year), RH retains a solid gross profit margin of 44.39%, illustrating its pricing power in the luxury market.
For more detailed analysis, InvestingPro offers 12 additional tips on RH’s financial and market performance.
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