Arhaus (NASDAQ:ARHS) Shares Gap Up to $11.17

Arhaus, Inc. (NASDAQ:ARHS - Get Free Report) shares gapped up before the market opened on Friday . The stock had previously closed at $11.17, but opened at $11.74. Arhaus shares last traded at $12.28, with a volume of 193,318 shares traded.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Barclays reduced their price target on shares of Arhaus from $17.00 to $15.00 and set an "overweight" rating on the stock in a research report on Friday, August 9th. Craig Hallum reduced their price target 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. Telsey Advisory Group reissued an "outperform" rating and set a $15.00 price target on shares of Arhaus in a research report on Monday, August 12th. Robert W. Baird cut their target price on shares of Arhaus from $18.00 to $14.00 and set an "outperform" rating on the stock in a research note on Friday, August 9th. Finally, TD Cowen cut their target price on shares of Arhaus from $19.00 to $14.00 and set a "buy" rating on the stock in a research note on Friday, August 9th. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $15.00.

Arhaus Price Performance

The company has a market capitalization of $1.75 billion, a PE ratio of 16.47, a price-to-earnings-growth ratio of 12.49 and a beta of 2.52. 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 company's 50 day simple moving average is $13.51 and its 200 day simple moving average is $14.98.

Arhaus (NASDAQ:ARHS - Get Free Report) last announced its earnings results on Thursday, August 8th. The company reported $0.16 earnings per share (EPS) for the quarter, topping 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 business had revenue of $309.80 million for the quarter, compared to analyst estimates of $314.28 million. During the same period last year, the firm posted $0.29 earnings per share. The company's revenue for the quarter was down 1.0% compared to the same quarter last year. As a group, sell-side analysts predict that Arhaus, Inc. will post 0.48 earnings per share for the current year.

Insider Buying and Selling at Arhaus

In other news, insider Venkatachalam Nachiappan sold 6,460 shares of the firm's stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $16.11, for a total value of $104,070.60. Following the completion of the transaction, the insider now owns 36,736 shares in the company, valued at $591,816.96. The sale was disclosed in a document filed with the SEC, which is available at this link. 1.52% of the stock is owned by corporate insiders.

Institutional Trading of Arhaus

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Sanctuary Advisors LLC purchased a new position in Arhaus in the 2nd quarter worth approximately $310,000. Susquehanna Fundamental Investments LLC acquired a new stake in shares of Arhaus during the 2nd quarter valued at approximately $244,000. The Manufacturers Life Insurance Company acquired a new stake in shares of Arhaus during the 2nd quarter valued at approximately $331,000. Interval Partners LP raised its position in shares of Arhaus by 9.4% during the 2nd quarter. Interval Partners LP now owns 772,288 shares of the company's stock valued at $13,083,000 after acquiring an additional 66,583 shares in the last quarter. Finally, Sei Investments Co. raised its position in shares of Arhaus by 25.6% during the 2nd 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. 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.