Arhaus (NASDAQ:ARHS) Shares Gap Up – Time to Buy?

Shares of Arhaus, Inc. (NASDAQ:ARHS) gapped up before the market opened on Friday . The stock had previously closed at $9.46, but opened at $10.86. Arhaus shares last traded at $10.62, with a volume of 1,051,325 shares trading hands.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. Barclays dropped their price target on Arhaus from $15.00 to $13.00 and set an “overweight” rating on the stock in a research report on Friday, November 8th. Telsey Advisory Group reiterated an “outperform” rating and issued a $11.00 price objective on shares of Arhaus in a report on Friday. Jefferies Financial Group reissued a “hold” rating and set a $12.00 target price on shares of Arhaus in a report on Wednesday, October 9th. Bank of America cut shares of Arhaus from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $15.00 to $11.00 in a research report on Thursday, November 7th. Finally, Wedbush reduced their target price on Arhaus from $11.00 to $10.00 and set a “neutral” rating for the company in a 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’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $12.80.

Arhaus Trading Up 16.9 %

The company has a quick ratio of 0.52, a current ratio of 1.23 and a debt-to-equity ratio of 0.17. The firm has a market capitalization of $1.55 billion, a price-to-earnings ratio of 19.75, a P/E/G ratio of 14.78 and a beta of 2.58. The business has a 50-day moving average of $9.79 and a two-hundred day moving average of $11.74.

Arhaus (NASDAQ:ARHS) last announced its quarterly earnings data on Thursday, November 7th. The company reported $0.07 earnings per share 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 analyst estimates of $328.94 million. Arhaus had a return on equity of 24.92% and a net margin of 6.18%. Arhaus’s revenue for the quarter was down 2.2% compared to the same quarter last year. During the same period in the previous year, the business posted $0.14 EPS. Research analysts predict that Arhaus, Inc. will post 0.42 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Wasatch Advisors LP boosted its stake in shares of Arhaus by 26.6% in the 3rd quarter. Wasatch Advisors LP now owns 12,059,711 shares of the company’s stock valued at $148,455,000 after purchasing an additional 2,536,075 shares in the last quarter. American Century Companies Inc. grew its stake in Arhaus by 120.6% during the second quarter. American Century Companies Inc. now owns 4,060,484 shares of the company’s stock worth $68,785,000 after buying an additional 2,219,554 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Arhaus by 1,808.2% during the third quarter. JPMorgan Chase & Co. now owns 1,962,232 shares of the company’s stock worth $24,155,000 after buying an additional 1,859,398 shares in the last quarter. William Blair Investment Management LLC bought a new position in shares of Arhaus in the second quarter valued at approximately $21,034,000. Finally, Wellington Management Group LLP boosted its holdings in shares of Arhaus by 107.0% in the 3rd quarter. Wellington Management Group LLP now owns 1,231,556 shares of the company’s stock worth $15,160,000 after acquiring an additional 636,691 shares in the last quarter. 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.