Arhaus (NASDAQ:ARHS) Stock Price Down 2.6% – Here’s What Happened

Arhaus, Inc. (NASDAQ:ARHS)’s share price fell 2.6% during trading on Thursday . The company traded as low as $9.31 and last traded at $9.32. 375,701 shares traded hands during trading, a decline of 71% from the average session volume of 1,276,128 shares. The stock had previously closed at $9.57.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Craig Hallum cut Arhaus from a “buy” rating to a “hold” rating and cut their price objective for the stock from $14.00 to $10.00 in a research report on Tuesday, October 15th. Telsey Advisory Group raised shares of Arhaus from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $11.00 to $12.00 in a report on Thursday, November 14th. Barclays decreased their price objective on shares of Arhaus from $15.00 to $13.00 and set an “overweight” rating for the company in a report on Friday, November 8th. Bank of America cut shares of Arhaus from a “buy” rating to a “neutral” rating and dropped their target price for the company from $15.00 to $11.00 in a research note on Thursday, November 7th. Finally, Jefferies Financial Group reissued a “hold” rating and set a $12.00 target price on shares of Arhaus in a research report on Wednesday, October 9th. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $12.90.

Arhaus Stock Down 1.6 %

The stock’s 50 day moving average is $9.66 and its 200 day moving average is $12.31. The company has a market capitalization of $1.30 billion, a PE ratio of 16.54, a PEG ratio of 14.78 and a beta of 2.58. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.52 and a current ratio of 1.23.

Arhaus (NASDAQ:ARHS) last posted its 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). The company had revenue of $319.13 million for the quarter, compared to analysts’ expectations of $328.94 million. Arhaus had a return on equity of 24.92% and a net margin of 6.18%. The company’s revenue was down 2.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.14 EPS. On average, sell-side analysts anticipate that Arhaus, Inc. will post 0.42 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Wasatch Advisors LP lifted its holdings in shares of Arhaus by 26.6% in the third quarter. Wasatch Advisors LP now owns 12,059,711 shares of the company’s stock worth $148,455,000 after buying an additional 2,536,075 shares in the last quarter. American Century Companies Inc. lifted its stake in Arhaus by 120.6% in the 2nd quarter. American Century Companies Inc. now owns 4,060,484 shares of the company’s stock worth $68,785,000 after purchasing an additional 2,219,554 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in Arhaus by 1,808.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,962,232 shares of the company’s stock valued at $24,155,000 after purchasing an additional 1,859,398 shares during the period. Emerald Advisers LLC grew its position in shares of Arhaus by 2.4% during the 3rd quarter. Emerald Advisers LLC now owns 1,371,567 shares of the company’s stock valued at $16,884,000 after purchasing an additional 32,077 shares in the last quarter. Finally, William Blair Investment Management LLC purchased a new position in shares of Arhaus during the 2nd quarter valued at $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.