Q1 Beat And Raised Guidance Boosts Restoration Hardware

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em>Joel Elconin is the co-host of
Benzinga's #PreMarket Prep
, a daily trading idea radio show.
Restoration Hardware
RH
shares are trading higher by $1.89 at $96.72 in Friday's session. The catalyst for the rally is Q1 beat for EPS ($0.23 vs Est. $0.20) and for revenues ($422.44M vs. Est. $418.97). Despite lowering Q2 guidance, the company has guided higher for the fiscal year ending September 16. The reaction to the beat rallied the issue to $100 in the after-hours session,but stopped shy of that reaching $98.99. shortly after the open. The current high coincides with its April 1 high ($98.98) After making the high, it retreated to $95.30 before rebounding to its current level. The all time high in the issue was made on March 30 at $102. The all time closing high was made the following day at $99.17.
Posted In: TechnicalsIntraday UpdateTrading IdeasPre-market outlook
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