Principal Financial Group Inc. Takes Position in Arhaus, Inc. (NASDAQ:ARHS)

Principal Financial Group Inc. acquired a new position in Arhaus, Inc. (NASDAQ:ARHS) during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 66,089 shares of the company’s stock, valued at approximately $814,000.

Other institutional investors have also modified their holdings of the company. Amalgamated Bank acquired a new position in Arhaus during the second quarter worth about $30,000. Quantbot Technologies LP acquired a new position in shares of Arhaus in the 3rd quarter worth approximately $43,000. Quest Partners LLC raised its holdings in shares of 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. Intech Investment Management LLC acquired a new stake in Arhaus during the third quarter valued at approximately $131,000. Finally, Ground Swell Capital LLC bought a new stake in Arhaus during the second quarter worth approximately $183,000. Institutional investors and hedge funds own 27.88% of the company’s stock.

Analyst Ratings Changes

Several research firms have issued reports on ARHS. Stifel Nicolaus dropped 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. Wedbush reduced their target price on Arhaus from $11.00 to $10.00 and set a “neutral” rating for the company in a report on Friday, November 8th. Bank of America cut Arhaus from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $15.00 to $11.00 in a research note on Thursday, November 7th. Telsey Advisory Group raised shares of Arhaus from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $11.00 to $12.00 in a research note on Thursday, November 14th. Finally, Jefferies Financial Group reiterated a “hold” rating and issued a $12.00 target price on shares of Arhaus in a report on Wednesday, October 9th. Four investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, Arhaus currently has an average rating of “Moderate Buy” and a consensus target price of $12.90.

Arhaus Stock Down 2.4 %

Arhaus stock opened at $9.19 on Friday. Arhaus, Inc. has a twelve month low of $8.30 and a twelve month high of $19.81. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.52 and a current ratio of 1.23. The firm has a market cap of $1.29 billion, a PE ratio of 16.41, a P/E/G ratio of 14.78 and a beta of 2.58. The firm’s 50 day moving average price is $9.71 and its two-hundred day moving average price is $11.98.

Arhaus (NASDAQ:ARHS) last posted its quarterly earnings results on Thursday, November 7th. The company reported $0.07 earnings per share for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.01). Arhaus had a return on equity of 24.92% and a net margin of 6.18%. The company had revenue of $319.13 million during the quarter, compared to analyst estimates of $328.94 million. During the same period last year, the company posted $0.14 earnings per share. The company’s revenue was down 2.2% compared to the same quarter last year. On average, research analysts predict that Arhaus, Inc. will post 0.42 EPS for the current fiscal 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.