Arhaus (NASDAQ:ARHS) Shares Up 7.5% – Here’s What Happened

Shares of Arhaus, Inc. (NASDAQ:ARHS) shot up 7.5% during mid-day trading on Monday . The company traded as high as $9.94 and last traded at $9.88. 585,348 shares were traded during mid-day trading, a decline of 35% from the average session volume of 902,067 shares. The stock had previously closed at $9.19.

Wall Street Analysts Forecast Growth

ARHS has been the subject of a number of analyst reports. Bank of America lowered Arhaus from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $15.00 to $11.00 in a research report on Thursday, November 7th. Barclays lowered their target price on shares of Arhaus from $15.00 to $13.00 and set an “overweight” rating on the stock in a research note on Friday, November 8th. Wedbush reduced their price target on shares of Arhaus from $11.00 to $10.00 and set a “neutral” rating for the company in a research note on Friday, November 8th. Telsey Advisory Group upgraded shares of Arhaus from a “market perform” rating to an “outperform” rating and raised their price objective for the company from $11.00 to $12.00 in a research note on Thursday, November 14th. Finally, Jefferies Financial Group restated a “hold” rating and issued a $12.00 price objective on shares of Arhaus in a report on Wednesday, October 9th. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, Arhaus presently has a consensus rating of “Moderate Buy” and an average price target of $12.90.

Arhaus Stock Performance

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 stock has a market cap of $1.33 billion, a price-to-earnings ratio of 16.89, a P/E/G ratio of 14.78 and a beta of 2.58. The company has a fifty day simple moving average of $9.75 and a 200-day simple moving average of $11.78.

Arhaus (NASDAQ:ARHS) last posted its quarterly earnings data on Thursday, November 7th. The company reported $0.07 EPS 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 firm had revenue of $319.13 million during the quarter, compared to analyst estimates of $328.94 million. During the same period in the prior year, the business posted $0.14 EPS. The company’s revenue for the quarter was down 2.2% on a year-over-year basis. On average, research analysts forecast that Arhaus, Inc. will post 0.42 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Arhaus

Several institutional investors and hedge funds have recently bought and sold shares of ARHS. Wasatch Advisors LP grew its stake in Arhaus by 26.6% in the third quarter. Wasatch Advisors LP now owns 12,059,711 shares of the company’s stock valued at $148,455,000 after purchasing an additional 2,536,075 shares in the last quarter. American Century Companies Inc. grew its stake in shares of Arhaus by 120.6% in the 2nd quarter. American Century Companies Inc. now owns 4,060,484 shares of the company’s stock valued at $68,785,000 after buying an additional 2,219,554 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in Arhaus by 1,808.2% in the third quarter. JPMorgan Chase & Co. now owns 1,962,232 shares of the company’s stock worth $24,155,000 after buying an additional 1,859,398 shares during the last quarter. Emerald Advisers LLC raised its position in Arhaus by 2.4% during the third quarter. Emerald Advisers LLC now owns 1,371,567 shares of the company’s stock valued at $16,884,000 after acquiring an additional 32,077 shares in the last quarter. Finally, William Blair Investment Management LLC acquired a new stake in Arhaus in the second quarter valued at approximately $21,034,000. Hedge funds and other institutional investors own 27.88% of the company’s stock.

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.