Arhaus (NASDAQ:ARHS) Shares Gap Up – Here’s What Happened

Arhaus, Inc. (NASDAQ:ARHS) shares gapped up prior to trading on Friday . The stock had previously closed at $10.59, but opened at $11.29. Arhaus shares last traded at $10.81, with a volume of 310,735 shares changing hands.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on ARHS shares. TD Cowen reduced their target price on Arhaus from $19.00 to $14.00 and set a “buy” rating for the company in a report on Friday, August 9th. Barclays cut their price objective on Arhaus from $17.00 to $15.00 and set an “overweight” rating for the company in a report on Friday, August 9th. Jefferies Financial Group lowered Arhaus from a “buy” rating to a “hold” rating and cut their price objective for the stock from $22.00 to $16.00 in a report on Monday, July 8th. Robert W. Baird cut their price objective on Arhaus from $18.00 to $14.00 and set an “outperform” rating for the company in a report on Friday, August 9th. Finally, Stifel Nicolaus cut their price objective on Arhaus from $19.50 to $16.00 and set a “buy” rating for the company in a report on Monday, August 12th. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $15.00.

Arhaus Price Performance

The company has a quick ratio of 0.55, a current ratio of 1.25 and a debt-to-equity ratio of 0.17. The stock has a market capitalization of $1.53 billion, a price-to-earnings ratio of 13.93, a P/E/G ratio of 15.20 and a beta of 2.51. The company’s 50-day simple moving average is $12.49 and its 200 day simple moving average is $14.81.

Arhaus (NASDAQ:ARHS) last posted its earnings results on Thursday, August 8th. The company reported $0.16 EPS for the quarter, topping the consensus estimate of $0.12 by $0.04. The firm had revenue of $309.80 million for the quarter, compared to the consensus estimate of $314.28 million. Arhaus had a net margin of 6.92% and a return on equity of 28.45%. The business’s quarterly revenue was down 1.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.29 earnings per share. Equities research analysts forecast that Arhaus, Inc. will post 0.48 EPS for the current year.

Insider Activity

In other news, insider Venkatachalam Nachiappan sold 6,460 shares of the firm’s stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $16.11, for a total value of $104,070.60. Following the sale, the insider now directly owns 36,736 shares of the company’s stock, valued at approximately $591,816.96. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.52% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Arhaus

A number of institutional investors have recently added to or reduced their stakes in ARHS. Wasatch Advisors LP grew its position in Arhaus by 147.1% during the first quarter. Wasatch Advisors LP now owns 8,792,207 shares of the company’s stock worth $135,312,000 after buying an additional 5,233,776 shares in the last quarter. American Century Companies Inc. lifted its stake in Arhaus by 120.6% during the second quarter. American Century Companies Inc. now owns 4,060,484 shares of the company’s stock worth $68,785,000 after purchasing an additional 2,219,554 shares during the period. William Blair Investment Management LLC bought a new position in Arhaus during the second quarter worth about $21,034,000. Price T Rowe Associates Inc. MD bought a new position in Arhaus during the first quarter worth about $8,326,000. Finally, Silvercrest Asset Management Group LLC bought a new position in Arhaus during the first quarter worth about $8,301,000. 27.88% of the stock is owned by institutional investors and hedge funds.

Arhaus Company Profile

Arhaus, Inc operates as a lifestyle brand and premium retailer in the home furnishings market in the United States. It provides merchandise assortments across various categories, including furniture, lighting, textiles, décor, and outdoor. The company's furniture products comprise bedroom, dining room, living room, and home office furnishings, which includes sofas, dining tables and chairs, accent chairs, console and coffee tables, beds, headboards, dressers, desks, bookcases, modular storage, and other items; and outdoor products, such as outdoor dining tables, chairs, chaises and other furniture, lighting, textiles, décor, umbrellas, and fire pits.