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

Arhaus, Inc. (NASDAQ:ARHS)’s stock price gapped up prior to trading 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 trading hands.

A number of other equities research analysts have also commented on ARHS. Bank of America lowered shares of Arhaus from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $15.00 to $11.00 in a report on Thursday, November 7th. Craig Hallum cut shares of Arhaus from a “buy” rating to a “hold” rating and decreased their price target for the company from $14.00 to $10.00 in a research note on Tuesday, October 15th. Telsey Advisory Group restated an “outperform” rating and issued a $11.00 price objective on shares of Arhaus in a research report on Friday. Barclays decreased their price objective on Arhaus from $15.00 to $13.00 and set an “overweight” rating on the stock in a research report on Friday, November 8th. Finally, Stifel Nicolaus dropped their target price on Arhaus from $16.00 to $13.00 and set a “buy” rating for the company in a research report on Monday, November 4th. Four equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $12.10.

Institutional Investors Weigh In On Arhaus

A number of institutional investors have recently made changes to their positions in ARHS. Victory Capital Management Inc. grew its holdings in shares of Arhaus by 5.8% in the 3rd quarter. Victory Capital Management Inc. now owns 25,893 shares of the company’s stock valued at $319,000 after buying an additional 1,416 shares during the period. Amalgamated Bank bought a new position in Arhaus during the second quarter worth about $30,000. Soros Capital Management LLC increased its holdings in shares of Arhaus by 18.2% in the third quarter. Soros Capital Management LLC now owns 21,857 shares of the company’s stock worth $269,000 after acquiring an additional 3,358 shares in the last quarter. Janus Henderson Group PLC raised its position in shares of Arhaus by 8.7% during the third quarter. Janus Henderson Group PLC now owns 44,217 shares of the company’s stock worth $544,000 after purchasing an additional 3,529 shares during the period. Finally, Quantbot Technologies LP bought a new position in shares of Arhaus during the 3rd quarter valued at about $43,000. 27.88% of the stock is owned by institutional investors and hedge funds.

Arhaus Price Performance

The company has a 50-day moving average of $9.84 and a 200-day 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 firm has a market capitalization of $1.53 billion, a price-to-earnings ratio of 19.43, a price-to-earnings-growth ratio of 14.78 and a beta of 2.58.

Arhaus (NASDAQ:ARHS) last posted 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). Arhaus had a net margin of 6.18% and a return on equity of 24.92%. The company had revenue of $319.13 million during the quarter, compared to the consensus estimate of $328.94 million. During the same period in the prior year, the firm posted $0.14 earnings per share. The company’s revenue was down 2.2% compared to the same quarter last year. As a group, research analysts anticipate that Arhaus, Inc. will post 0.42 EPS for the current fiscal 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.