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

Arhaus, Inc. (NASDAQ:ARHS)’s share price gapped up before the market opened 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 traded.

ARHS has been the topic of a number of other research reports. Telsey Advisory Group reiterated an “outperform” rating and issued a $11.00 price objective on shares of Arhaus in a report on Friday. Barclays cut their price objective 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. Wedbush reduced their price objective on shares of Arhaus from $11.00 to $10.00 and set a “neutral” rating for the company in a research report on Friday, November 8th. Craig Hallum downgraded shares of Arhaus from a “buy” rating to a “hold” rating and dropped their target price for the company from $14.00 to $10.00 in a research report on Tuesday, October 15th. Finally, Bank of America cut shares of Arhaus from a “buy” rating to a “neutral” rating and reduced their price target for the company from $15.00 to $11.00 in a research report on Thursday, November 7th. Four equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $12.10.

Institutional Investors Weigh In On Arhaus

A number of institutional investors and hedge funds have recently made changes to their positions in ARHS. Amalgamated Bank acquired a new position in Arhaus in the 2nd quarter valued at about $30,000. Quantbot Technologies LP purchased a new position in shares of Arhaus in the 3rd quarter valued at approximately $43,000. Quest Partners LLC increased its holdings in shares of Arhaus by 716,800.0% in the second quarter. Quest Partners LLC now owns 7,169 shares of the company’s stock valued at $121,000 after purchasing an additional 7,168 shares during the period. Intech Investment Management LLC purchased a new stake in shares of Arhaus during the third quarter worth approximately $131,000. Finally, Olympiad Research LP acquired a new stake in shares of Arhaus during the third quarter worth $202,000. 27.88% of the stock is owned by hedge funds and other institutional investors.

Arhaus Trading Up 15.0 %

The company has a fifty day moving average of $9.84 and a two-hundred day moving average of $11.66. The company has a quick ratio of 0.52, a current ratio of 1.23 and a debt-to-equity ratio of 0.17. The stock has a market capitalization of $1.53 billion, a price-to-earnings ratio of 19.43, a P/E/G ratio of 14.78 and a beta of 2.58.

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 return on equity of 24.92% and a net margin of 6.18%. The firm had revenue of $319.13 million during the quarter, compared to analyst estimates of $328.94 million. During the same quarter last year, the business posted $0.14 EPS. The firm’s revenue was down 2.2% on a year-over-year basis. On average, research 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.