Restoration Hardware (RH) Stock Spikes After CEO Buys Shares
Bloomberg News
NEW YORK (TheStreet) -- Shares of Restoration Hardware (RH) - Get Report are jumping 7.02% to $29.43 in midday trading Monday after chairman and CEO Gary Friedman disclosed that he purchased 32,918 of the company's common stock on July 15, the Fly reports.
Friedman bought the stock in multiple trades between $27.26 and $28.05 per share, according to a regulatory filing. The average purchase price was $27.59 per share.
Friedman owned 2,207,451 of the company's shares at the end of the transaction, according to Reuters.
Last month, the stock was hammered after it reported an unexpected loss for the 2016 fiscal first quarter, provided downbeat guidance and was downgraded by several firms.
Restoration Hardware stock is down about 62.97% year-to-date.
Separately, TheStreet Ratings Team has a "Hold" rating with a score of C on the stock.
The primary factors that have impacted the rating are mixed. The company's strengths can be seen in multiple areas, such as its revenue growth, reasonable valuation levels and largely solid financial position with reasonable debt levels by most measures.
But the team also finds weaknesses including a generally disappointing performance in the stock itself, feeble growth in the company's earnings per share and deteriorating net income.
Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.
You can view the full analysis from the report here: RH