Richelieu Hardware (TSE:RCH – Get Free Report) had its price objective reduced by stock analysts at CIBC from C$46.00 to C$45.00 in a note issued to investors on Friday, BayStreet.CA reports. The brokerage presently has a “neutral” rating on the stock. CIBC’s price objective would indicate a potential upside of 11.22% from the stock’s previous close.
Several other analysts also recently issued reports on the company. National Bankshares downgraded Richelieu Hardware from an “outperform” rating to a “sector perform” rating and reduced their price target for the company from C$47.60 to C$45.50 in a research note on Friday, January 19th. National Bank Financial downgraded shares of Richelieu Hardware from an “outperform market weight” rating to a “sector perform market weight” rating in a research note on Thursday, January 18th.
View Our Latest Research Report on RCH
Richelieu Hardware Stock Performance
Richelieu Hardware (TSE:RCH – Get Free Report) last released its quarterly earnings results on Thursday, January 18th. The company reported C$0.51 earnings per share for the quarter, missing the consensus estimate of C$0.54 by C($0.03). Richelieu Hardware had a net margin of 6.24% and a return on equity of 13.18%. The company had revenue of C$453.70 million during the quarter, compared to the consensus estimate of C$443.00 million. Equities analysts anticipate that Richelieu Hardware will post 1.8799626 EPS for the current fiscal year.
Insiders Place Their Bets
In other news, Senior Officer Yannick Godeau sold 1,000 shares of the company’s stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of C$43.90, for a total transaction of C$43,899.40. In related news, Senior Officer Guy Grenier sold 3,000 shares of the stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of C$43.73, for a total transaction of C$131,198.70. Also, Senior Officer Yannick Godeau sold 1,000 shares of Richelieu Hardware stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of C$43.90, for a total transaction of C$43,899.40. Corporate insiders own 7.56% of the company’s stock.
Richelieu Hardware Company Profile
Richelieu Hardware Ltd. manufactures, imports, and distributes specialty hardware and complementary products in Canada and the United States. The company's principal 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; high-pressure laminates; railing and balusters; floor protection products; and power tool accessories.
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