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

Arhaus, Inc. (NASDAQ:ARHS)’s share 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.

ARHS has been the subject of a number of other reports. Jefferies Financial Group raised their price target on Arhaus from $9.50 to $10.00 and gave the company 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 report on Friday. Barclays cut their price target on shares of Arhaus from $15.00 to $13.00 and set an “overweight” rating for the company in a research note on Friday, November 8th. Wedbush lowered 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. Finally, Stifel Nicolaus cut their target price on shares of Arhaus from $16.00 to $13.00 and set a “buy” rating for the company in a research note on Monday, November 4th. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, Arhaus has an average rating of “Moderate Buy” and an average price target of $12.10.

Hedge Funds Weigh In On Arhaus

Several institutional investors and hedge funds have recently made changes to their positions in ARHS. Rhumbline Advisers grew its position in shares of Arhaus by 9,035.3% during the 2nd quarter. Rhumbline Advisers now owns 69,337 shares of the company’s stock worth $1,175,000 after purchasing an additional 68,578 shares in the last quarter. Quest Partners LLC increased its stake in Arhaus by 716,800.0% during the 2nd quarter. Quest Partners LLC now owns 7,169 shares of the company’s stock worth $121,000 after acquiring an additional 7,168 shares during the period. American Century Companies Inc. raised its holdings in Arhaus by 120.6% in the 2nd quarter. American Century Companies Inc. now owns 4,060,484 shares of the company’s stock valued at $68,785,000 after acquiring an additional 2,219,554 shares in the last quarter. William Blair Investment Management LLC acquired a new position in Arhaus in the 2nd quarter valued at $21,034,000. Finally, Oppenheimer Asset Management Inc. grew its holdings in shares of Arhaus by 67.4% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 95,966 shares of the company’s stock worth $1,626,000 after purchasing an additional 38,628 shares in the last quarter. Institutional investors and hedge funds own 27.88% of the company’s stock.

Arhaus Stock Up 15.0 %

The company has a market cap of $1.53 billion, a P/E ratio of 19.43, a PEG ratio of 14.78 and a beta of 2.58. The stock 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 current ratio of 1.23 and a quick ratio of 0.52.

Arhaus (NASDAQ:ARHS) last released its earnings results 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 firm 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 business earned $0.14 earnings per share. Arhaus’s quarterly revenue was down 2.2% compared to the same quarter last year. Research analysts anticipate that Arhaus, Inc. will post 0.42 earnings per share for the current year.

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.