Edward T. Lee, Chief Legal and Compliance Officer at RH (NYSE: RH), sold 2,000 shares of RH on October 18 for about $707,142, at prices between $353.55 and $353.655. He also exercised options to buy 2,000 shares at $101.25 each, totaling $202,500, leaving him with no shares of RH.
In the latest earnings call for Q2 2024, Restoration Hardware reported a 3.6% increase in revenue to $830 million, driven by a 7% rise in demand. However, they lowered sales and EBIT forecasts for the year due to a weaker response to new products. Analysts adjusted price targets for RH: Stifel to $375 (Buy), Loop Capital to $320 (Hold), and CFRA from $293 to $309, amid a 57% drop in adjusted EPS in Q2. KeyBanc maintained a Sector Weight rating, citing concerns in the furniture sector. Meanwhile, TD Cowen raised its target from $325 to $350 (Buy), showing optimism about the company’s future.
InvestingPro Insights
Edward T. Lee’s stock moves come as RH’s shares have gained 53.35% over the past year, with nearly 30% in the last three months. The stock is close to its 52-week high, which reflects strong investor confidence. RH’s P/E ratio stands at 189.39, indicating high growth expectations. Although revenue growth has slightly slowed (-4.25%), RH continues to have a strong gross profit margin of 44.39%.
For a deeper analysis, InvestingPro provides 12 additional investment insights into RH’s financial health.
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