Arhaus (NASDAQ:ARHS) Shares Down 2.6% – Here’s Why

Arhaus, Inc. (NASDAQ:ARHS) dropped 2.6% during mid-day trading on Thursday . The company traded as low as $9.31 and last traded at $9.32. Approximately 375,701 shares changed hands during mid-day trading, a decline of 71% from the average daily volume of 1,276,128 shares. The stock had previously closed at $9.57.

Analysts Set New Price Targets

Several research analysts have commented on ARHS shares. Stifel Nicolaus cut their price target on Arhaus from $16.00 to $13.00 and set a “buy” rating on the stock in a research report on Monday, November 4th. Bank of America downgraded shares of Arhaus from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $15.00 to $11.00 in a research report on Thursday, November 7th. Barclays decreased their target price on shares of Arhaus from $15.00 to $13.00 and set an “overweight” rating for the company in a research note on Friday, November 8th. Telsey Advisory Group raised Arhaus from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $11.00 to $12.00 in a research report on Thursday, November 14th. Finally, Jefferies Financial Group reaffirmed a “hold” rating and set a $12.00 price target on shares of Arhaus in a report on Wednesday, October 9th. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $12.90.

Arhaus Stock Down 2.7 %

The company has a debt-to-equity ratio of 0.17, a current ratio of 1.23 and a quick ratio of 0.52. The company has a market capitalization of $1.31 billion, a price-to-earnings ratio of 16.63, a price-to-earnings-growth ratio of 14.78 and a beta of 2.58. The firm’s 50-day simple moving average is $9.67 and its two-hundred day simple moving average is $12.42.

Arhaus (NASDAQ:ARHS) last announced 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). Arhaus had a net margin of 6.18% and a return on equity of 24.92%. The business had revenue of $319.13 million during the quarter, compared to analysts’ expectations of $328.94 million. During the same period last year, the company earned $0.14 EPS. The firm’s revenue for the quarter was down 2.2% on a year-over-year basis. Sell-side analysts predict that Arhaus, Inc. will post 0.42 EPS for the current fiscal year.

Hedge Funds Weigh In On Arhaus

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Amalgamated Bank bought a new stake in shares of Arhaus during the 2nd quarter valued at about $30,000. Quantbot Technologies LP bought a new position in shares of Arhaus in the third 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 buying an additional 7,168 shares in the last quarter. Intech Investment Management LLC acquired a new stake in shares of Arhaus during the third quarter worth $131,000. Finally, Ground Swell Capital LLC acquired a new stake in Arhaus during the 2nd quarter worth about $183,000. 27.88% of the stock is owned by hedge funds and other institutional investors.

Arhaus Company 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.