Arhaus (NASDAQ:ARHS) Shares Down 2.6% - Here's What Happened

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

Analysts Set New Price Targets

A number of equities research analysts have issued reports on ARHS shares. Wedbush lowered their target price on shares of Arhaus from $11.00 to $10.00 and set a "neutral" rating on the stock in a report on Friday, November 8th. Stifel Nicolaus decreased their price objective on Arhaus from $16.00 to $13.00 and set a "buy" rating on the stock in a research note on Monday, November 4th. Bank of America downgraded Arhaus from a "buy" rating to a "neutral" rating and cut their target price for the stock from $15.00 to $11.00 in a research note on Thursday, November 7th. Jefferies Financial Group reiterated a "hold" rating and set a $12.00 price target on shares of Arhaus in a research report on Wednesday, October 9th. Finally, Barclays lowered their price objective on Arhaus from $15.00 to $13.00 and set an "overweight" rating on the stock in a research report on Friday, November 8th. Four analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, Arhaus currently has an average rating of "Moderate Buy" and a consensus price target of $12.90.

Arhaus Trading Down 1.7 %

The firm's 50 day moving average is $9.67 and its 200 day moving average is $12.40. 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 $1.32 billion, a PE ratio of 16.80, a P/E/G ratio of 14.78 and a beta of 2.58.

Arhaus (NASDAQ:ARHS - Get Free Report) last issued its quarterly earnings data on Thursday, November 7th. The company reported $0.07 EPS for the quarter, missing the consensus estimate of $0.08 by ($0.01). The firm had revenue of $319.13 million for the quarter, compared to the consensus estimate of $328.94 million. Arhaus had a net margin of 6.18% and a return on equity of 24.92%. The business's revenue was down 2.2% on a year-over-year basis. During the same period last year, the company posted $0.14 earnings per share. As a group, equities analysts predict that Arhaus, Inc. will post 0.42 EPS for the current year.

Institutional Investors Weigh In On Arhaus

A number of large investors have recently made changes to their positions in the business. Amalgamated Bank purchased a new position in Arhaus during the 2nd quarter valued at $30,000. Quantbot Technologies LP purchased a new position in shares of Arhaus during the third quarter valued at about $43,000. Quest Partners LLC raised its stake in Arhaus by 716,800.0% in the second quarter. Quest Partners LLC now owns 7,169 shares of the company's stock worth $121,000 after buying an additional 7,168 shares in the last quarter. Intech Investment Management LLC purchased a new stake in Arhaus in the third quarter worth about $131,000. Finally, Ground Swell Capital LLC bought a new position in shares of Arhaus in the 2nd quarter worth approximately $183,000. 27.88% of the stock is currently owned by 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.