Edward T. Lee, Chief Legal and Compliance Officer at RH (NYSE:RH), sold 2,000 shares on October 18 for about $707,142, at prices between $353.55 and $353.655. He also exercised options to buy 2,000 shares for $202,500, leaving him with no shares of RH.
In other news, Restoration Hardware reported a 3.6% revenue increase year-over-year, reaching $830 million, along with a 7% rise in demand during Q2 2024. However, the company lowered its full-year sales and EBIT guidance due to slower new product responses. Price targets were raised by several firms: Stifel to $375 (Buy), Loop Capital to $320 (Hold), and TD Cowen from $325 to $350 (Buy). KeyBanc maintained a Sector Weight rating amid concerns about furniture demand.
InvestingPro Insights
Lee’s stock sales occur as RH’s shares are up 53.35% over the past year and near their 52-week high. RH trades at a high P/E ratio of 189.39, showing strong growth expectations despite a slight revenue decline (-4.25% in the last year). The company maintains a strong gross profit margin of 44.39%, indicating solid pricing power in luxury furnishings. For more detailed analysis, InvestingPro provides additional tips on RH’s financial health.
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