Arhaus (NASDAQ:ARHS) Upgraded by Wedbush to “Hold”

Arhaus (NASDAQ:ARHS) was upgraded by equities researchers at Wedbush to a “hold” rating in a research report issued on Thursday, Zacks.com reports.

A number of other research analysts have also recently weighed in on the stock. Stifel Nicolaus cut their price objective on shares of Arhaus from $19.50 to $16.00 and set a “buy” rating for the company in a report on Monday, August 12th. Craig Hallum dropped their target price on shares of Arhaus from $21.00 to $14.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. TD Cowen dropped their target price on shares of Arhaus from $19.00 to $14.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. Robert W. Baird dropped their target price on shares of Arhaus from $18.00 to $14.00 and set an “outperform” rating on the stock in a research report on Friday, August 9th. Finally, Bank of America dropped their target price on shares of Arhaus from $18.00 to $15.00 and set a “buy” rating on the stock in a research report on Friday. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $14.09.

Arhaus Trading Up 1.4 %

Shares of Arhaus stock opened at $10.52 on Thursday. Arhaus has a 1 year low of $7.56 and a 1 year high of $19.81. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.25 and a quick ratio of 0.55. The firm has a fifty day moving average price of $11.97 and a 200 day moving average price of $14.62. The stock has a market cap of $1.48 billion, a PE ratio of 13.84, a price-to-earnings-growth ratio of 12.08 and a beta of 2.51.

Arhaus (NASDAQ:ARHS) last released its quarterly earnings data on Thursday, August 8th. The company reported $0.16 earnings per share for the quarter, beating analysts’ consensus estimates of $0.12 by $0.04. Arhaus had a net margin of 6.92% and a return on equity of 28.45%. The company had revenue of $309.80 million during the quarter, compared to analysts’ expectations of $314.28 million. During the same quarter in the previous year, the company earned $0.29 earnings per share. The firm’s revenue for the quarter was down 1.0% on a year-over-year basis. Equities research analysts predict that Arhaus will post 0.48 earnings per share for the current year.

Insider Buying and Selling

In other Arhaus news, insider Venkatachalam Nachiappan sold 6,460 shares of Arhaus stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $16.11, for a total transaction of $104,070.60. Following the transaction, the insider now directly owns 36,736 shares of the company’s stock, valued at $591,816.96. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.52% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Arhaus

Institutional investors and hedge funds have recently made changes to their positions in the stock. Wasatch Advisors LP grew its position in shares of Arhaus by 147.1% in the 1st quarter. Wasatch Advisors LP now owns 8,792,207 shares of the company’s stock valued at $135,312,000 after buying an additional 5,233,776 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Arhaus by 11.8% during the first quarter. Vanguard Group Inc. now owns 4,387,126 shares of the company’s stock worth $67,518,000 after buying an additional 463,749 shares in the last quarter. American Century Companies Inc. grew its holdings in shares of Arhaus by 120.6% during the second quarter. American Century Companies Inc. now owns 4,060,484 shares of the company’s stock worth $68,785,000 after buying an additional 2,219,554 shares in the last quarter. Hood River Capital Management LLC grew its holdings in shares of Arhaus by 0.6% during the first quarter. Hood River Capital Management LLC now owns 1,547,296 shares of the company’s stock worth $23,813,000 after buying an additional 8,824 shares in the last quarter. Finally, Summit Creek Advisors LLC grew its holdings in shares of Arhaus by 0.7% during the first quarter. Summit Creek Advisors LLC now owns 1,261,837 shares of the company’s stock worth $19,420,000 after buying an additional 8,461 shares in the last quarter. 27.88% of the stock is owned by hedge funds and other institutional investors.

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.