Arhaus (NASDAQ:ARHS) Shares Down 6.5% – Here’s Why

Arhaus, Inc. (NASDAQ:ARHS) shares were down 6.5% on Tuesday . The company traded as low as $7.63 and last traded at $7.5930. 252,927 shares changed hands during trading, a decline of 81% from the average daily volume of 1,318,628 shares. The stock had previously closed at $8.12.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on ARHS. Morgan Stanley boosted their target price on shares of Arhaus from $9.00 to $10.00 and gave the company an “equal weight” rating in a research report on Friday, August 7th. Weiss Ratings upgraded shares of Arhaus from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, August 17th. Craig Hallum raised shares of Arhaus from a “hold” rating to a “buy” rating and set a $12.00 target price on the stock in a report on Thursday, August 6th. Robert W. Baird set a $10.00 price target on Arhaus in a research note on Friday, August 7th. Finally, Wall Street Zen upgraded Arhaus from a “sell” rating to a “hold” rating in a research note on Monday, July 20th. Four analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat.com, Arhaus currently has a consensus rating of “Hold” and an average price target of $10.12.

Arhaus Stock Performance

The stock’s fifty day moving average price is $8.46 and its two-hundred day moving average price is $7.57. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.60 and a current ratio of 1.33. The company has a market cap of $1.02 billion, a P/E ratio of 14.40, a P/E/G ratio of 2.31 and a beta of 2.30.

Arhaus (NASDAQ:ARHS) last announced its quarterly earnings data on Thursday, August 6th. The company reported $0.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.16 by $0.12. Arhaus had a net margin of 4.91% and a return on equity of 17.23%. The business had revenue of $384.90 million for the quarter, compared to analysts’ expectations of $365.66 million. During the same period last year, the firm posted $0.25 earnings per share. The firm’s quarterly revenue was up 7.5% compared to the same quarter last year. As a group, equities analysts predict that Arhaus, Inc. will post 0.54 earnings per share for the current year.

Insider Activity

In other news, Director Alton F. Doody III sold 3,500 shares of Arhaus stock in a transaction on Tuesday, September 8th. The stock was sold at an average price of $8.47, for a total value of $29,645.00. Following the transaction, the director owned 87,113 shares in the company, valued at approximately $737,847.11. This trade represents a 3.86% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 1.18% of the company’s stock.

Institutional Investors Weigh In On Arhaus

Hedge funds have recently made changes to their positions in the stock. Bank of America Corp DE lifted its stake in Arhaus by 2.1% in the 1st quarter. Bank of America Corp DE now owns 2,337,340 shares of the company’s stock valued at $15,847,000 after purchasing an additional 49,036 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Arhaus by 18.6% during the first quarter. Dimensional Fund Advisors LP now owns 1,179,268 shares of the company’s stock worth $7,994,000 after buying an additional 185,208 shares in the last quarter. Punch & Associates Investment Management Inc. lifted its stake in shares of Arhaus by 2.1% in the 1st quarter. Punch & Associates Investment Management Inc. now owns 1,115,665 shares of the company’s stock valued at $7,564,000 after acquiring an additional 22,580 shares during the last quarter. Meros Investment Management LP boosted its holdings in shares of Arhaus by 71.1% during the 4th quarter. Meros Investment Management LP now owns 821,734 shares of the company’s stock valued at $9,212,000 after acquiring an additional 341,577 shares in the last quarter. Finally, Granite Investment Partners LLC boosted its holdings in shares of Arhaus by 14.0% during the 1st quarter. Granite Investment Partners LLC now owns 460,322 shares of the company’s stock valued at $3,121,000 after acquiring an additional 56,628 shares in the last quarter. 27.88% of the stock is currently owned by institutional investors and hedge funds.

Arhaus Company Profile

Arhaus, Inc is a lifestyle-oriented home furnishings company that designs, sources and sells furniture and décor for residential spaces. Its product assortment includes living room, bedroom, dining room and outdoor furniture, as well as rugs, lighting, textiles, mattresses, wall art and other home accessories. The company emphasizes distinctive designs, handcrafted details and materials sourced from around the world.

Arhaus sells its products through a combination of physical showrooms, its website and other direct-to-consumer channels.