Key Points
- Insider sale: Guy Grenier sold 12,600 Richelieu Hardware shares for C$474,264, reducing his position by 19.2% to 53,031 shares.
- Financial results: The company reported quarterly earnings of C$0.53 per share on revenue of C$562 million, with a 4.47% net margin and 9.49% return on equity.
- Market outlook: Richelieu announced a quarterly dividend of C$0.1566 per share, while analysts maintained a consensus “Hold” rating and a C$39.25 target price.
Richelieu Hardware Ltd. (TSE:RCH - Get Free Report) insider Guy Grenier sold 12,600 shares of Richelieu Hardware stock in a transaction dated Friday, October 30th. The stock was sold at an average price of C$37.64, for a total transaction of C$474,264.00. Following the completion of the sale, the insider owned 53,031 shares of the company's stock, valued at C$1,996,086.84. This trade represents a 19.20% decrease in their position.
Richelieu Hardware Stock Performance
Shares of TSE:RCH opened at C$38.03 on Tuesday. Richelieu Hardware Ltd. has a 12-month low of C$33.91 and a 12-month high of C$45.03. The company's 50 day moving average price is C$36.43 and its two-hundred day moving average price is C$38.91. The firm has a market cap of C$2.09 billion, a PE ratio of 22.64, a PEG ratio of 0.77 and a beta of 0.84. The company has a quick ratio of 0.71, a current ratio of 3.23 and a debt-to-equity ratio of 34.76.
Richelieu Hardware (TSE:RCH - Get Free Report) last released its quarterly earnings results on Thursday, October 8th. The company reported C$0.53 earnings per share for the quarter. The company had revenue of C$562.00 million during the quarter. Richelieu Hardware had a net margin of 4.47% and a return on equity of 9.49%.
Richelieu Hardware Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 5th. Shareholders of record on Thursday, November 5th will be paid a dividend of $0.1566 per share. This represents a $0.63 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date is Thursday, October 22nd. Richelieu Hardware's dividend payout ratio (DPR) is 37.09%.
Wall Street Analysts Forecast Growth
Several equities analysts have weighed in on the company. National Bank Financial lifted their price objective on Richelieu Hardware from C$38.50 to C$39.50 and gave the company a "sector perform" rating in a report on Friday, October 9th. Canadian Imperial Bank of Commerce reduced their target price on Richelieu Hardware from C$42.00 to C$39.00 in a report on Monday, July 13th. One equities research analyst has rated the stock with a Hold rating. Based on data from MarketBeat, Richelieu Hardware has a consensus rating of "Hold" and a consensus target price of C$39.25.
View Our Latest Analysis on Richelieu Hardware
About Richelieu Hardware
(
Get Free Report)
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.
Further Reading
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
