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 buy 2,000 shares at $101.25 each, totaling $202,500. After these transactions, he no longer owns RH stock.
Recent Company Update
Restoration Hardware reported a 3.6% revenue increase to $830 million in Q2 2024, with demand up 7%. However, the company lowered its full-year sales outlook due to slower-than-expected responses to new products. Various analysts adjusted their price targets for RH shares, with Stifel raising it to $375 and Loop Capital to $320. Despite a drop in earnings per share, TD Cowen increased their target to $350, highlighting optimism for RH’s future.
InvestingPro Insights
RH’s stock has surged 53.35% over the past year, with a 29.94% gain in the last three months, trading near its 52-week high. The stock shows a high P/E ratio of 189.39, indicating strong growth expectations. Although revenue growth has slowed by 4.25%, RH maintains a gross profit margin of 44.39%, reflecting its premium pricing in the luxury market.
For a deeper analysis, InvestingPro offers additional insights into RH’s financial health and market performance.
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