Richelieu Hardware (TSE:RCH) Stock Passes Above Two Hundred Day Moving Average – Here’s Why

Shares of Richelieu Hardware Ltd. (TSE:RCH) crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of C$38.47 and traded as high as C$44.21. Richelieu Hardware shares last traded at C$44.02, with a volume of 56,238 shares changing hands.

Wall Street Analyst Weigh In

RCH has been the topic of several analyst reports. Canadian Imperial Bank of Commerce lifted their target price on shares of Richelieu Hardware from C$37.00 to C$40.00 in a research report on Monday, January 19th. National Bank Financial lifted their price objective on shares of Richelieu Hardware from C$35.00 to C$40.50 and gave the stock a “sector perform” rating in a research report on Tuesday, October 28th. One equities research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, Richelieu Hardware currently has an average rating of “Hold” and an average price target of C$40.25.

Richelieu Hardware Stock Up 1.1%

The company has a quick ratio of 0.72, a current ratio of 3.46 and a debt-to-equity ratio of 26.37. The firm has a market capitalization of C$2.42 billion, a PE ratio of 28.40, a price-to-earnings-growth ratio of 0.77 and a beta of 0.72. The business’s 50-day moving average price is C$41.73 and its 200-day moving average price is C$38.47.

Insider Buying and Selling

In other Richelieu Hardware news, Director Marc Poulin sold 3,000 shares of Richelieu Hardware stock in a transaction on Thursday, February 12th. The shares were sold at an average price of C$42.78, for a total transaction of C$128,340.00. Following the completion of the sale, the director owned 15,000 shares of the company’s stock, valued at C$641,700. This trade represents a 16.67% decrease in their position. Also, insider Antoine Auclair purchased 2,500 shares of the stock in a transaction dated Friday, January 30th. The shares were bought at an average price of C$40.39 per share, for a total transaction of C$100,975.00. Following the completion of the acquisition, the insider owned 8,597 shares in the company, valued at C$347,232.83. This represents a 41.00% increase in their ownership of the stock. 7.62% of the stock is owned by corporate insiders.

About Richelieu Hardware

Richelieu Hardware Ltd is a Canada-based company that imports, manufactures, and distributes specialty hardware and complementary products. Headquartered in Montreal, the company operates across Canada and the eastern and midwestern regions of the United States. The majority of the company’s sales are derived from its operations in Canada. Richelieu’s products include furniture, glass, decorative, window, and door hardware, lighting systems, and kitchen and closet storage. The firm primarily serves home furnishing manufacturers, residential and commercial woodworkers, hardware retailers, and renovation superstores.