RH just got Upgraded by three analysts today.Here is the link
Restoration Hardware falls despite better than expected results, guidance
Shares of home goods retailer Restoration Hardware (RH) are falling despite a quarterly report that included headline earnings and revenues that beat the consensus forecast of analysts. WHAT'S NEW: Last night, Restoration Hardware reported second quarter adjusted earnings per share of 49c and revenue of $382.1M. Analysts' consensus estimate was for 43c of EPS on $377.6M in revenue. The company also guided its Q3 and FY13 profit and revenue above consensus estimates. ANALYST REACTION: This morning, Restoration Hardware’s price target was raised at three firms: Jefferies, RW Baird, and Piper Jaffray. All cited the company’s better than expected Q2 results and forward guidance. In its own note to investors, William Blair said Restoration Hardware's Q2 margin of 36.4% fell below the 37.7% consensus. The firm noted that Restoration management expects the gross margin trajectory to improve substantially in the second half and keeps an Outperform rating on the stock. PRICE ACTION: In late morning trading, Restoration Hardware fell $4.82, or 6.34%, to $71.24 on nearly five times the average daily trading volume. The stock has rallied over 100% since the start of the year, so some of the selling may be related to investors locking in profits.