Richelieu Hardware (TSE:RCH) Given New C$45.00 Price Target at CIBC

Richelieu Hardware (TSE:RCH) had its price objective trimmed by CIBC from C$46.00 to C$45.00 in a research note issued to investors on Friday morning, BayStreet.CA reports. The brokerage currently has a neutral rating on the stock.

RCH has been the topic of a number of other reports. National Bank Financial lowered shares of Richelieu Hardware from an outperform market weight rating to a sector perform market weight rating in a research note on Thursday, January 18th. National Bankshares lowered shares of Richelieu Hardware from an outperform rating to a sector perform rating and dropped their price target for the stock from C$47.60 to C$45.50 in a research note on Friday, January 19th.

Richelieu Hardware Price Performance

Shares of TSE:RCH opened at C$40.37 on Friday. The company has a 50-day simple moving average of C$43.10 and a 200-day simple moving average of C$43.25. Richelieu Hardware has a one year low of C$37.04 and a one year high of C$48.27. The company has a debt-to-equity ratio of 23.05, a quick ratio of 0.72 and a current ratio of 3.62. The stock has a market capitalization of C$2.27 billion, a price-to-earnings ratio of 20.39, a PEG ratio of 0.77 and a beta of 0.94.

Richelieu Hardware (TSE:RCH) last announced its earnings results on Thursday, January 18th. The company reported C$0.51 EPS for the quarter, missing analysts’ consensus estimates of C$0.54 by C($0.03). Richelieu Hardware had a net margin of 6.24% and a return on equity of 13.18%. The business had revenue of C$453.70 million during the quarter, compared to analysts’ expectations of C$443.00 million. On average, analysts predict that Richelieu Hardware will post 1.8799626 EPS for the current year.

Richelieu Hardware Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 9th. Shareholders of record on Thursday, May 9th will be given a dividend of $0.15 per share. The ex-dividend date is Wednesday, April 24th. This represents a $0.60 annualized dividend and a yield of 1.49%. Richelieu Hardware’s payout ratio is currently 30.30%.

Insiders Place Their Bets

In other news, Senior Officer Guy Grenier sold 3,000 shares of the stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of C$43.73, for a total value of C$131,198.70. In related news, Senior Officer Guy Grenier sold 3,000 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of C$43.73, for a total transaction of C$131,198.70. Also, Senior Officer Yannick Godeau sold 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of C$43.90, for a total transaction of C$43,899.40. 7.56% of the stock is currently owned by company insiders.

About Richelieu Hardware

Richelieu Hardware Ltd. manufactures, imports, and distributes specialty hardware and complementary products in Canada and the United States. The company's principal product categories include furniture, glass and building decorative, and functional hardware; lighting systems; finishing and decorating products; ergonomic workstation components; kitchen and closet storage solutions; sliding door systems; decorative and functional panels; high-pressure laminates; railing and balusters; floor protection products; and power tool accessories.