Principal Financial Group Inc. Makes New Investment in Arhaus, Inc. (NASDAQ:ARHS)

Principal Financial Group Inc. acquired a new position in shares of Arhaus, Inc. (NASDAQ:ARHS - Free Report) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 66,089 shares of the company's stock, valued at approximately $814,000.

Other institutional investors have also modified their holdings of the company. Amalgamated Bank acquired a new position in shares of Arhaus in the second quarter valued at approximately $30,000. Quest Partners LLC grew its stake in shares of 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 acquiring an additional 7,168 shares in the last quarter. Ground Swell Capital LLC purchased a new stake in shares of Arhaus during the second quarter worth $183,000. Virtu Financial LLC acquired a new stake in shares of Arhaus in the first quarter valued at $212,000. Finally, Susquehanna Fundamental Investments LLC purchased a new position in Arhaus in the second quarter valued at $244,000. Hedge funds and other institutional investors own 27.88% of the company's stock.

Arhaus Stock Performance

Arhaus stock traded up $0.13 during mid-day trading on Friday, reaching $9.75. 1,031,479 shares of the company were exchanged, compared to its average volume of 1,664,117. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.52 and a current ratio of 1.23. The firm has a market cap of $1.37 billion, a PE ratio of 17.41, a price-to-earnings-growth ratio of 12.62 and a beta of 2.58. The firm's 50-day simple moving average is $10.30 and its two-hundred day simple moving average is $13.51. Arhaus, Inc. has a twelve month low of $8.30 and a twelve month high of $19.81.

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

Analyst Ratings Changes

Several equities research analysts have weighed in on ARHS shares. Barclays cut their price target on Arhaus from $15.00 to $13.00 and set an "overweight" rating on the stock in a report on Friday, November 8th. Robert W. Baird decreased their price target on shares of Arhaus from $18.00 to $14.00 and set an "outperform" rating for the company in a research note on Friday, August 9th. Jefferies Financial Group reaffirmed a "hold" rating and issued a $12.00 price target on shares of Arhaus in a report on Wednesday, October 9th. Wedbush cut their price target on shares of Arhaus from $11.00 to $10.00 and set a "neutral" rating on the stock in a research note on Friday, November 8th. Finally, Stifel Nicolaus decreased their price objective on shares of Arhaus from $16.00 to $13.00 and set a "buy" rating for the company in a research note on Monday, November 4th. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $12.90.

Arhaus 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.