RH (RH)

• Market cap: $6.43B
• Sector: Consumer Discretionary
• Industry: Furniture Stores

About: RH is a luxury furniture and lifestyle retailer operating in the $134 billion domestic furniture and home furnishing industry. The firm offers merchandise across many categories including furniture, lighting, textiles, bath, decor, and children and is growing the presence of its hospitality business with 18 restaurant locations. RH innovates, curates, and integrates products, categories, services, and businesses across channels and brand extensions (RH Modern and Waterworks, for example). RH is fully integrated across channels and is positioned to broaden its addressable market over the next decade by expanding abroad, with its World of RH digital platform (highlighting offerings outside of home furnishings), and with offerings in color, bespoke furniture, architecture, media, and more.

Employees: 6,590

Fund manager confidence

Based on 2024 Q2 SEC filings by fund managers ($100M+ AUM)

2.4% more ownership

Funds ownership: 85.3% [Q1] → 87.71% (+2.4%) [Q2]

1% more repeat investments, than reductions

Existing positions increased: 121 | Existing positions reduced: 120

3% less call options, than puts

Call options by funds: $787M | Put options by funds: $812M

10% less funds holding

Funds holding: 401 [Q1] → 360 (-41) [Q2]

27% less capital invested

Capital invested by funds: $5.41B [Q1] → $3.96B (-$1.45B) [Q2]

44% less first-time investments, than exits

New positions opened: 52 | Existing positions closed: 93

54% less funds holding in top 10

Funds holding in top 10: 13 [Q1] → 6 (-7) [Q2]

Research analyst outlook

15 Wall Street Analysts provided 1 year price targets over the past 3 months

• Low target: $290 17% downside
• Avg. target: $326 6% downside
• High target: $375 8% upside

15 analyst ratings

• positive: 8 53%
• neutral: 7 47%
• negative: 0 0%

JP Morgan Christopher Horvers 64% 1-year accuracy 16 / 25 met price target	3% downside $338	Overweight Maintained	16 Sept 2024
Barclays Seth Sigman 64% 1-year accuracy 9 / 14 met price target	8% downside $320	Equal-Weight Maintained	16 Sept 2024
Loop Capital Anthony Chukumba 54% 1-year accuracy 7 / 13 met price target	8% downside $320	Hold Maintained	16 Sept 2024
Stifel W. Andrew Carter 75% 1-year accuracy 6 / 8 met price target	8% upside $375	Buy Maintained	16 Sept 2024
Citigroup Steven Zaccone 100% 1-year accuracy 3 / 3 met price target	2% upside $355	Buy Maintained	13 Sept 2024