State Street Corp Acquires 117,422 Shares of Arhaus, Inc. (NASDAQ:ARHS)

State Street Corp raised its holdings in Arhaus, Inc. (NASDAQ:ARHS) by 14.5% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 930,023 shares of the company’s stock after purchasing an additional 117,422 shares during the period. State Street Corp’s holdings in Arhaus were worth $11,449,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in ARHS. Carnegie Investment Counsel raised its position in shares of Arhaus by 176.8% in the third quarter. Carnegie Investment Counsel now owns 294,740 shares of the company’s stock valued at $3,628,000 after buying an additional 188,240 shares in the last quarter. Sei Investments Co. grew its stake in Arhaus by 25.6% during the second quarter. Sei Investments Co. now owns 481,331 shares of the company’s stock worth $8,154,000 after buying an additional 98,240 shares in the last quarter. Principal Financial Group Inc. bought a new position in Arhaus in the 3rd quarter valued at about $814,000. LMR Partners LLP acquired a new position in shares of Arhaus in the 3rd quarter valued at approximately $4,308,000. Finally, Dynamic Technology Lab Private Ltd bought a new stake in shares of Arhaus during the 3rd quarter worth approximately $802,000. Institutional investors and hedge funds own 27.88% of the company’s stock.

Arhaus Stock Up 0.8 %

Arhaus stock opened at $9.57 on Thursday. Arhaus, Inc. has a 52-week low of $8.30 and a 52-week high of $19.81. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.52 and a current ratio of 1.23. The firm has a 50 day moving average price of $9.67 and a two-hundred day moving average price of $12.42. The firm has a market cap of $1.34 billion, a price-to-earnings ratio of 17.09, a PEG ratio of 14.78 and a beta of 2.58.

Arhaus (NASDAQ:ARHS) last announced its quarterly earnings data on Thursday, November 7th. The company reported $0.07 EPS for the quarter, missing the consensus estimate of $0.08 by ($0.01). The company had revenue of $319.13 million for the quarter, compared to analyst estimates of $328.94 million. Arhaus had a return on equity of 24.92% and a net margin of 6.18%. The business’s quarterly revenue was down 2.2% compared to the same quarter last year. During the same period last year, the business earned $0.14 EPS. Equities analysts predict that Arhaus, Inc. will post 0.42 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on ARHS. Wedbush decreased their price objective on shares of Arhaus from $11.00 to $10.00 and set a “neutral” rating on the stock in a research note on Friday, November 8th. Stifel Nicolaus lowered their price target on Arhaus from $16.00 to $13.00 and set a “buy” rating for the company in a report on Monday, November 4th. Bank of America lowered Arhaus from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $15.00 to $11.00 in a research note on Thursday, November 7th. Barclays lowered their target price on Arhaus from $15.00 to $13.00 and set an “overweight” rating for the company in a research note on Friday, November 8th. Finally, Jefferies Financial Group reaffirmed a “hold” rating and set a $12.00 price target on shares of Arhaus in a report on Wednesday, October 9th. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $12.90.

Arhaus 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.