Arhaus (NASDAQ:ARHS) Shares Gap Up After Analyst Upgrade

Shares of Arhaus, Inc. (NASDAQ:ARHS) gapped up before the market opened on Friday after Piper Sandler raised their price target on the stock from $14.00 to $15.00. The stock had previously closed at $9.46, but opened at $10.86. Piper Sandler currently has an overweight rating on the stock. Arhaus shares last traded at $10.62, with a volume of 1,051,325 shares.

Other equities analysts have also recently issued reports about the stock. Jefferies Financial Group upped their price target on shares of Arhaus from $9.50 to $10.00 and gave the stock a “hold” rating in a research note on Friday. Telsey Advisory Group restated an “outperform” rating and set a $11.00 target price on shares of Arhaus in a research report on Friday. Wedbush reduced their price target on shares of Arhaus from $11.00 to $10.00 and set a “neutral” rating for the company in a research report on Friday, November 8th. Craig Hallum lowered Arhaus from a “buy” rating to a “hold” rating and decreased their price target for the stock from $14.00 to $10.00 in a research note on Tuesday, October 15th. Finally, Bank of America downgraded Arhaus from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $15.00 to $11.00 in a research note on Thursday, November 7th. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $12.10.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Harbor Capital Advisors Inc. lifted its holdings in Arhaus by 41.5% in the 4th quarter. Harbor Capital Advisors Inc. now owns 537,296 shares of the company’s stock valued at $5,051,000 after purchasing an additional 157,515 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Arhaus by 1,808.2% during the third quarter. JPMorgan Chase & Co. now owns 1,962,232 shares of the company’s stock valued at $24,155,000 after buying an additional 1,859,398 shares during the period. Principal Financial Group Inc. acquired a new stake in Arhaus during the third quarter worth approximately $814,000. Geode Capital Management LLC grew its stake in Arhaus by 12.5% in the 3rd quarter. Geode Capital Management LLC now owns 1,207,981 shares of the company’s stock worth $14,874,000 after acquiring an additional 134,312 shares during the period. Finally, Y Intercept Hong Kong Ltd purchased a new stake in Arhaus in the 3rd quarter worth approximately $236,000. 27.88% of the stock is currently owned by institutional investors and hedge funds.

Arhaus Price Performance

The company has a fifty day simple moving average of $9.84 and a two-hundred day simple moving average of $11.66. 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 company has a market capitalization of $1.53 billion, a price-to-earnings ratio of 19.43, a P/E/G ratio of 14.78 and a beta of 2.58.

Arhaus (NASDAQ:ARHS) last released its earnings results on Thursday, November 7th. The company reported $0.07 earnings per share for the quarter, missing the consensus estimate of $0.08 by ($0.01). The business had revenue of $319.13 million for the quarter, compared to analysts’ expectations 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 quarter last year, the company posted $0.14 earnings per share. As a group, research analysts anticipate that Arhaus, Inc. will post 0.42 earnings per share for the current year.

About Arhaus

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.