Richelieu Hardware Ltd. (RCH) PT Raised to C$36.00
Richelieu Hardware Ltd. (TSE:RCH) had its price target upped by equities researchers at National Bank Financial from C$33.50 to C$36.00 in a report issued on Friday. The brokerage currently has an “outperform” rating on the stock. National Bank Financial’s price objective would indicate a potential upside of 7.53% from the company’s current price. National Bank Financial also issued estimates for Richelieu Hardware’s FY2019 earnings at $1.43 EPS.
Separately, Scotiabank increased their price target on Richelieu Hardware from C$29.50 to C$30.00 and gave the stock a “sector perform” rating in a report on Friday, July 7th.
Richelieu Hardware (RCH) opened at 33.48 on Friday. The company has a market cap of $1.94 billion and a price-to-earnings ratio of 29.60. Richelieu Hardware has a 52 week low of $24.65 and a 52 week high of $33.68. The stock has a 50 day moving average of $31.28 and a 200 day moving average of $30.43.
Richelieu Hardware (TSE:RCH) last released its earnings results on Thursday, July 6th. The company reported C$0.30 earnings per share for the quarter, meeting analysts’ consensus estimates of C$0.30. The business had revenue of C$243.27 million during the quarter, compared to the consensus estimate of C$232.60 million. Richelieu Hardware had a net margin of 7.25% and a return on equity of 17.27%. Equities research analysts predict that Richelieu Hardware will post $1.23 earnings per share for the current fiscal year.
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In other Richelieu Hardware news, insider Guy Grenier sold 12,700 shares of the stock in a transaction that occurred on Friday, July 28th. The stock was sold at an average price of C$32.17, for a total transaction of C$408,559.00. Also, Director Richard Lord sold 149,900 shares of the stock in a transaction that occurred on Friday, July 14th. The stock was sold at an average price of C$31.50, for a total value of C$4,721,850.00. Insiders have sold a total of 167,823 shares of company stock worth $5,296,172 over the last 90 days.
About Richelieu Hardware
Richelieu Hardware Ltd. is a distributor, importer and manufacturer of specialty hardware and complementary products. The Company’s product categories include furniture, glass and building decorative and functional hardware, lighting systems, finishing and decorating products, ergonomic workstation components, kitchen and closet storage solutions, sliding door systems, decorative and functional panels, window and door hardware, glass hardware and floor protection products.
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