Principal Financial Group Inc. Buys Shares of 66,089 Arhaus, Inc. (NASDAQ:ARHS)

Principal Financial Group Inc. bought a new stake in Arhaus, Inc. (NASDAQ:ARHS) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 66,089 shares of the company’s stock, valued at approximately $814,000.

Other large investors have also recently modified their holdings of the company. Amalgamated Bank acquired a new position in Arhaus during the 2nd quarter valued at about $30,000. Quest Partners LLC boosted its position in Arhaus by 716,800.0% in the 2nd quarter. Quest Partners LLC now owns 7,169 shares of the company’s stock worth $121,000 after purchasing an additional 7,168 shares in the last quarter. Ground Swell Capital LLC purchased a new stake in Arhaus during the second quarter worth $183,000. Olympiad Research LP acquired a new stake in shares of Arhaus during the 3rd quarter valued at about $202,000. Finally, Handelsbanken Fonder AB acquired a new stake in Arhaus in the third quarter valued at approximately $207,000. Institutional investors own 27.88% of the company’s stock.

Arhaus Trading Up 1.4 %

NASDAQ ARHS opened at $9.75 on Friday. The stock has a market capitalization of $1.37 billion, a PE ratio of 17.41, a price-to-earnings-growth ratio of 12.62 and a beta of 2.58. The firm has a 50 day moving average of $10.30 and a two-hundred day moving average of $13.51. Arhaus, Inc. has a 52 week low of $8.30 and a 52 week high of $19.81. The company has a quick ratio of 0.52, a current ratio of 1.23 and a debt-to-equity ratio of 0.17.

Arhaus (NASDAQ:ARHS) last posted 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). Arhaus had a return on equity of 24.92% and a net margin of 6.18%. The business had revenue of $319.13 million for the quarter, compared to analysts’ expectations of $328.94 million. During the same quarter in the previous year, the firm earned $0.14 EPS. Arhaus’s revenue for the quarter was down 2.2% compared to the same quarter last year. As a group, research analysts expect that Arhaus, Inc. will post 0.42 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently commented on ARHS shares. Barclays cut their target price 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. Stifel Nicolaus reduced their price target on Arhaus from $16.00 to $13.00 and set a “buy” rating on the stock in a report on Monday, November 4th. Jefferies Financial Group reiterated a “hold” rating and issued a $12.00 price objective on shares of Arhaus in a report on Wednesday, October 9th. Telsey Advisory Group raised shares of Arhaus from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $11.00 to $12.00 in a research note on Thursday, November 14th. Finally, Wedbush dropped their price objective on Arhaus from $11.00 to $10.00 and set a “neutral” rating for the company in a research note on Friday, November 8th. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, Arhaus 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.