State Street Corp Has $11.45 Million Holdings in Arhaus, Inc. (NASDAQ:ARHS)

State Street Corp increased its holdings in shares of Arhaus, Inc. (NASDAQ:ARHS) by 14.5% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 930,023 shares of the company’s stock after purchasing an additional 117,422 shares during the quarter. State Street Corp owned approximately 0.66% of Arhaus worth $11,449,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the business. Carnegie Investment Counsel boosted its stake in shares of Arhaus by 176.8% during the 3rd quarter. Carnegie Investment Counsel now owns 294,740 shares of the company’s stock worth $3,628,000 after buying an additional 188,240 shares during the last quarter. Sei Investments Co. raised its holdings in Arhaus by 25.6% during the second quarter. Sei Investments Co. now owns 481,331 shares of the company’s stock worth $8,154,000 after acquiring an additional 98,240 shares in the last quarter. Principal Financial Group Inc. acquired a new position in Arhaus during the third quarter valued at approximately $814,000. LMR Partners LLP bought a new position in Arhaus in the third quarter valued at approximately $4,308,000. Finally, Dynamic Technology Lab Private Ltd bought a new position in Arhaus in the third quarter valued at approximately $802,000. Institutional investors own 27.88% of the company’s stock.

Arhaus Stock Up 0.8 %

Shares of ARHS opened at $9.57 on Thursday. The firm has a market cap of $1.34 billion, a P/E ratio of 17.09, a price-to-earnings-growth ratio of 14.78 and a beta of 2.58. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.52 and a current ratio of 1.23. Arhaus, Inc. has a 52 week low of $8.30 and a 52 week high of $19.81. The firm’s 50-day simple moving average is $9.67 and its 200 day simple moving average is $12.42.

Arhaus (NASDAQ:ARHS) last issued its quarterly earnings data on Thursday, November 7th. The company reported $0.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.01). The firm 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%. The company’s revenue was down 2.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.14 EPS. On average, analysts forecast that Arhaus, Inc. will post 0.42 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on ARHS shares. Jefferies Financial Group reissued a “hold” rating and issued a $12.00 price objective on shares of Arhaus in a report on Wednesday, October 9th. Telsey Advisory Group upgraded shares of Arhaus from a “market perform” rating to an “outperform” rating and increased their price target for the company from $11.00 to $12.00 in a research note on Thursday, November 14th. Barclays decreased their price objective on shares of Arhaus from $15.00 to $13.00 and set an “overweight” rating for the company in a research report on Friday, November 8th. Wedbush dropped their target price on shares of Arhaus from $11.00 to $10.00 and set a “neutral” rating on the stock in a report on Friday, November 8th. Finally, Stifel Nicolaus reduced their price target on Arhaus from $16.00 to $13.00 and set a “buy” rating for the company in a report on Monday, November 4th. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target 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.