Quest Partners LLC Trims Holdings in Arhaus, Inc. (NASDAQ:ARHS)

Quest Partners LLC decreased its stake in shares of Arhaus, Inc. (NASDAQ:ARHS) by 57.6% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 3,042 shares of the company’s stock after selling 4,127 shares during the period. Quest Partners LLC’s holdings in Arhaus were worth $37,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its holdings in shares of Arhaus by 11.8% in the first quarter. Vanguard Group Inc. now owns 4,387,126 shares of the company’s stock worth $67,518,000 after buying an additional 463,749 shares in the last quarter. Price T Rowe Associates Inc. MD purchased a new position in shares of Arhaus during the 1st quarter valued at $8,326,000. Janus Henderson Group PLC increased its holdings in shares of Arhaus by 188.1% in the first quarter. Janus Henderson Group PLC now owns 44,774 shares of the company’s stock worth $688,000 after purchasing an additional 29,231 shares during the period. California State Teachers Retirement System raised its position in shares of Arhaus by 16.9% in the first quarter. California State Teachers Retirement System now owns 35,858 shares of the company’s stock worth $552,000 after buying an additional 5,178 shares in the last quarter. Finally, Virtu Financial LLC purchased a new stake in shares of Arhaus in the first quarter worth $212,000. Institutional investors own 27.88% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Arhaus Stock Down 1.7 %

ARHS opened at $9.93 on Monday. Arhaus, Inc. has a 12 month low of $8.30 and a 12 month high of $19.81. The company has a current ratio of 1.23, a quick ratio of 0.52 and a debt-to-equity ratio of 0.17. The business’s 50-day moving average price is $10.01 and its 200-day moving average price is $13.29. The company has a market cap of $1.40 billion, a P/E ratio of 17.73, a P/E/G ratio of 13.03 and a beta of 2.58.

Arhaus (NASDAQ:ARHS) last posted its quarterly earnings results on Thursday, November 7th. The company reported $0.07 earnings per share (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 the consensus estimate of $328.94 million. Arhaus had a return on equity of 24.92% and a net margin of 6.18%. Arhaus’s revenue was down 2.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.14 earnings per share. On average, equities analysts expect that Arhaus, Inc. will post 0.42 EPS 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.