Arhaus (NASDAQ:ARHS) Shares Up 7.5% - Here's What Happened

Arhaus, Inc. (NASDAQ:ARHS - Get Free Report) was up 7.5% during trading on Monday . The stock traded as high as $9.94 and last traded at $9.88. Approximately 585,348 shares were traded during trading, a decline of 35% from the average daily volume of 902,067 shares. The stock had previously closed at $9.19.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on ARHS shares. Stifel Nicolaus dropped their price objective on shares of Arhaus from $16.00 to $13.00 and set a "buy" rating for the company in a report on Monday, November 4th. Wedbush reduced their price target on shares of Arhaus from $11.00 to $10.00 and set a "neutral" rating on the stock in a research report on Friday, November 8th. Bank of America lowered 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. Telsey Advisory Group upgraded Arhaus from a "market perform" rating to an "outperform" rating and lifted their target price for the company from $11.00 to $12.00 in a research report on Thursday, November 14th. Finally, Jefferies Financial Group reiterated a "hold" rating and set a $12.00 price target on shares of Arhaus in a report on Wednesday, October 9th. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat.com, Arhaus currently has an average rating of "Moderate Buy" and an average price target of $12.90.

Arhaus Stock Up 6.1 %

The company has a market capitalization of $1.37 billion, a PE ratio of 17.41, a PEG ratio of 14.78 and a beta of 2.58. The company has a current ratio of 1.23, a quick ratio of 0.52 and a debt-to-equity ratio of 0.17. The business has a fifty day moving average of $9.73 and a 200 day moving average of $11.83.

Arhaus (NASDAQ:ARHS - Get Free Report) last posted 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). 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 in the previous year, the business posted $0.14 EPS. The company's revenue for the quarter was down 2.2% compared to the same quarter last year. Equities research analysts anticipate that Arhaus, Inc. will post 0.42 EPS for the current year.

Institutional Trading of Arhaus

A number of large investors have recently modified their holdings of the stock. Carnegie Investment Counsel grew its stake in Arhaus by 176.8% during the 3rd quarter. Carnegie Investment Counsel now owns 294,740 shares of the company's stock worth $3,628,000 after purchasing an additional 188,240 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Arhaus by 12.5% during the third quarter. Geode Capital Management LLC now owns 1,207,981 shares of the company's stock worth $14,874,000 after buying an additional 134,312 shares in the last quarter. LMR Partners LLP purchased a new stake in shares of Arhaus during the third quarter worth approximately $4,308,000. Sei Investments Co. raised its holdings in Arhaus by 25.6% in the second quarter. Sei Investments Co. now owns 481,331 shares of the company's stock valued at $8,154,000 after acquiring an additional 98,240 shares in the last quarter. Finally, Principal Financial Group Inc. acquired a new stake in Arhaus in the third quarter valued at approximately $814,000. Hedge funds and other institutional investors own 27.88% of the company's stock.

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.