The Nordea Investment Management AB Acquires 214,627 Shares of Restoration Hardware Holdings Inc. (RH)

The Nordea Investment Management AB Acquires 214,627 Shares of Restoration Hardware Holdings Inc. (RH)

Nordea Investment Management AB increased its stake in shares of Restoration Hardware Holdings Inc. (NYSE:RH) by 7,429.1% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 217,516 shares of the company’s stock after buying an additional 214,627 shares during the period. Nordea Investment Management AB’s holdings in Restoration Hardware Holdings were worth $6,238,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently made changes to their positions in the stock. Renaissance Technologies LLC bought a new position in shares of Restoration Hardware Holdings during the first quarter valued at $33,864,000. State Street Corp boosted its position in shares of Restoration Hardware Holdings by 51.3% in the first quarter. State Street Corp now owns 2,272,999 shares of the company’s stock valued at $95,239,000 after buying an additional 770,753 shares in the last quarter. Wellington Management Group LLP bought a new position in shares of Restoration Hardware Holdings during the first quarter valued at $18,615,000. Royce & Associates LP bought a new position in shares of Restoration Hardware Holdings during the first quarter valued at $7,710,000. Finally, Factory Mutual Insurance Co. boosted its position in shares of Restoration Hardware Holdings by 27.5% in the second quarter. Factory Mutual Insurance Co. now owns 231,900 shares of the company’s stock valued at $6,651,000 after buying an additional 50,000 shares in the last quarter. 98.58% of the stock is owned by hedge funds and other institutional investors.

Restoration Hardware Holdings Inc. (NYSE:RH) traded down 0.90% on Monday, reaching $29.78. The company had a trading volume of 2,299,890 shares. Restoration Hardware Holdings Inc. has a one year low of $24.75 and a one year high of $106.49. The firm has a market capitalization of $1.21 billion, a price-to-earnings ratio of 25.90 and a beta of 1.42. The company’s 50 day moving average is $33.65 and its 200-day moving average is $33.90.

Restoration Hardware Holdings (NYSE:RH) last released its quarterly earnings results on Thursday, September 8th. The company reported $0.44 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.29 by $0.15. Restoration Hardware Holdings had a return on equity of 9.47% and a net margin of 2.18%. The business had revenue of $543.40 million for the quarter, compared to the consensus estimate of $511.80 million. During the same quarter last year, the business posted $0.85 earnings per share. The company’s revenue for the quarter was up 7.2% on a year-over-year basis. On average, equities research analysts expect that Restoration Hardware Holdings Inc. will post $1.65 earnings per share for the current fiscal year.

A number of equities analysts have recently commented on the company. Deutsche Bank AG reissued a “hold” rating and set a $28.00 price target (down previously from $35.00) on shares of Restoration Hardware Holdings in a report on Tuesday, June 28th. Goldman Sachs Group Inc. raised Restoration Hardware Holdings from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $37.00 to $40.00 in a report on Thursday, August 18th. Vetr raised Restoration Hardware Holdings from a “sell” rating to a “hold” rating and set a $31.09 price target for the company in a report on Tuesday, August 16th. Nomura reissued a “buy” rating and set a $60.00 price target on shares of Restoration Hardware Holdings in a report on Wednesday, August 10th. Finally, Zacks Investment Research raised Restoration Hardware Holdings from a “sell” rating to a “hold” rating in a report on Wednesday, August 31st. Thirteen analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $47.26.

Restoration Hardware Holdings Company Profile

Restoration Hardware Holdings, Inc (RH) is a luxury retailer in the home furnishings marketplace. The Company offers merchandise assortments across a range of categories, including furniture, lighting, textiles, bathware, decor, outdoor and garden, tableware, and child and teen furnishings. RH classifies its sales into furniture, including both indoor and outdoor furniture, and non-furniture, including lighting, textiles, accessories and home decor, product lines.

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