Richelieu Hardware (TSE:RCH – Get Free Report) had its target price hoisted by stock analysts at National Bank Financial from C$38.50 to C$39.50 in a research note issued to investors on Friday, BayStreet reports. The brokerage presently has a “sector perform” rating on the stock. National Bank Financial’s price objective points to a potential upside of 4.17% from the stock’s current price.
Separately, Canadian Imperial Bank of Commerce lowered their target price on Richelieu Hardware from C$42.00 to C$39.00 in a report on Monday, July 13th. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, Richelieu Hardware currently has an average rating of “Hold” and a consensus target price of C$39.25.
Read Our Latest Stock Analysis on RCH
Richelieu Hardware Trading Down 1.8%
Richelieu Hardware (TSE:RCH – Get Free Report) last posted its quarterly earnings results on Thursday, October 8th. The company reported C$0.53 earnings per share for the quarter. The firm had revenue of C$562.00 million during the quarter. Richelieu Hardware had a net margin of 4.34% and a return on equity of 9.04%.
Richelieu Hardware News Roundup
Here are the key news stories impacting Richelieu Hardware this week:
- Positive Sentiment: Third-quarter EPS was C$0.53 on revenue of C$562 million, with earnings reportedly increasing 23% year over year and exceeding analyst expectations. The results provided a fundamental catalyst for the stock. Richelieu Hardware Third-Quarter Earnings Jump 23% YoY, Beat Forecast
- Positive Sentiment: Revenue growth benefited from acquisitions and continued expansion in the United States, supporting the view that Richelieu’s growth strategy is broadening its addressable market and strengthening future sales prospects. Richelieu Hardware earns higher Q3 revenue thanks to acquisitions and US growth
- Positive Sentiment: Market commentary characterized the quarterly performance as encouraging, highlighting improving operating momentum and the potential for additional gains from U.S. expansion. The earnings release initially pushed the stock substantially higher. Encouraging Signs at Richelieu Hardware
- Neutral Sentiment: Investors are assessing whether the strong results and U.S. growth justify the shares’ valuation after a sharp recent advance. Commentary points to a generally reasonable outlook, but limited room for disappointment if growth slows. Can Richelieu Hardware Stay Reasonable After 15% Gains?
- Negative Sentiment: Valuation concerns and profit-taking after the post-earnings rally appear to be weighing on the stock. With a reported P/E near 24, investors may be demanding continued strong execution from Richelieu Hardware. Is Richelieu Hardware Expensive on Strong Q3 Results and U.S. Expansion?
Richelieu Hardware Company Profile
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.
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