Restoration Hardware RH shares are trading higher by $5.27 (25 percent) at $30.46 in Friday's session. The catalyst for the rally is the company's preliminary Q4 report that revealed an EPS beat of $0.03 along with $7 million beat for sales. The company also announced a $300 million buyback plan.
After a much higher open, it bottomed at $28.60 and then continued its move higher. It has continued to make new highs for the session, with the current one standing at $31.79.
That high is just shy of a pair of highs from January 3 ($31.88) and January 4 ($31.86). The latter is the last time the issue closed over $31.00, when it ended that session at $31.68.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
