Arhaus (NASDAQ:ARHS) Downgraded by Piper Sandler to Neutral

Arhaus (NASDAQ:ARHS) was downgraded by equities researchers at Piper Sandler from an “overweight” rating to a “neutral” rating in a report released on Thursday,Briefing.com Automated Import reports. They currently have a $12.00 target price on the stock, down from their previous target price of $15.00. Piper Sandler’s price target indicates a potential upside of 9.59% from the stock’s current price.

Several other research firms have also recently issued reports on ARHS. Jefferies Financial Group increased their price target on shares of Arhaus from $9.50 to $10.00 and gave the stock a “hold” rating in a report on Friday, January 10th. Wedbush cut their target price on Arhaus from $11.00 to $10.00 and set a “neutral” rating for the company in a research note on Friday, November 8th. Loop Capital initiated coverage on Arhaus in a report on Friday, January 24th. They issued a “hold” rating and a $12.00 price target for the company. Bank of America downgraded Arhaus from a “buy” rating to a “neutral” rating and decreased their price target for the company from $15.00 to $11.00 in a research note on Thursday, November 7th. Finally, Stifel Nicolaus increased their price objective on Arhaus from $13.00 to $14.00 and gave the stock a “buy” rating in a research report on Monday, January 13th. Six research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $11.91.

Arhaus Stock Down 8.1 %

Shares of Arhaus stock opened at $10.95 on Thursday. Arhaus has a one year low of $8.30 and a one year high of $19.81. The company has a market cap of $1.54 billion, a P/E ratio of 19.55, a PEG ratio of 11.57 and a beta of 2.63. 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 fifty day moving average of $11.19 and a two-hundred day moving average of $10.88.

Hedge Funds Weigh In On Arhaus

Several hedge funds have recently bought and sold shares of ARHS. Bank of America Corp DE boosted its stake in shares of Arhaus by 1,532.9% during the fourth quarter. Bank of America Corp DE now owns 2,497,915 shares of the company’s stock valued at $23,480,000 after acquiring an additional 2,672,239 shares during the last quarter. Wasatch Advisors LP boosted its stake in shares of Arhaus by 26.6% during the 3rd quarter. Wasatch Advisors LP now owns 12,059,711 shares of the company’s stock worth $148,455,000 after purchasing an additional 2,536,075 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Arhaus by 1,808.2% during 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 in the last quarter. Barclays PLC raised its position in shares of Arhaus by 108.6% in the fourth quarter. Barclays PLC now owns 110,447 shares of the company’s stock valued at $1,038,000 after buying an additional 1,391,342 shares during the last quarter. Finally, Long Focus Capital Management LLC purchased a new position in shares of Arhaus during the fourth quarter valued at approximately $10,575,000. 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.