Arhaus, Inc. (NASDAQ:ARHS – Get Free Report)’s stock price dropped 6.5% during mid-day trading on Tuesday . The company traded as low as $7.63 and last traded at $7.5930. 252,927 shares were traded during mid-day trading, a decline of 81% from the average session volume of 1,318,628 shares. The stock had previously closed at $8.12.
Analysts Set New Price Targets
Several analysts recently commented on ARHS shares. Craig Hallum upgraded Arhaus from a “hold” rating to a “buy” rating and set a $12.00 price target for the company in a research report on Thursday, August 6th. Weiss Ratings raised shares of Arhaus from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, August 17th. Wall Street Zen upgraded shares of Arhaus from a “sell” rating to a “hold” rating in a research report on Monday, July 20th. Telsey Advisory Group raised their price target on shares of Arhaus from $8.00 to $10.00 and gave the stock a “market perform” rating in a research note on Friday, August 7th. Finally, Piper Sandler boosted their price target on shares of Arhaus from $8.00 to $9.00 and gave the stock a “neutral” rating in a research report on Friday, August 7th. Four research 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, the stock has a consensus rating of “Hold” and a consensus price target of $10.12.
Read Our Latest Research Report on ARHS
Arhaus Stock Down 8.8%
Arhaus (NASDAQ:ARHS – Get Free Report) last announced its quarterly earnings results on Thursday, August 6th. The company reported $0.28 earnings per share for the quarter, beating the consensus estimate of $0.16 by $0.12. Arhaus had a net margin of 4.91% and a return on equity of 17.23%. The firm had revenue of $384.90 million for the quarter, compared to analysts’ expectations of $365.66 million. During the same quarter in the previous year, the company posted $0.25 EPS. The company’s revenue was up 7.5% compared to the same quarter last year. On average, equities analysts expect that Arhaus, Inc. will post 0.54 EPS for the current year.
Insider Buying and Selling at Arhaus
In other news, Director Alton F. Doody III sold 3,500 shares of the stock in a transaction that occurred on Tuesday, September 8th. The shares were sold at an average price of $8.47, for a total value of $29,645.00. Following the completion of the sale, the director owned 87,113 shares of the company’s stock, valued at $737,847.11. This represents a 3.86% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 1.18% of the stock is currently owned by company insiders.
Institutional Trading of Arhaus
Institutional investors have recently made changes to their positions in the company. Bank of America Corp DE grew its position in Arhaus by 2.1% in the first quarter. Bank of America Corp DE now owns 2,337,340 shares of the company’s stock worth $15,847,000 after acquiring an additional 49,036 shares during the period. Meros Investment Management LP raised its position in Arhaus by 71.1% in the fourth quarter. Meros Investment Management LP now owns 821,734 shares of the company’s stock valued at $9,212,000 after purchasing an additional 341,577 shares during the period. Dimensional Fund Advisors LP raised its position in Arhaus by 18.6% in the first quarter. Dimensional Fund Advisors LP now owns 1,179,268 shares of the company’s stock valued at $7,994,000 after purchasing an additional 185,208 shares during the period. 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 purchasing an additional 22,580 shares during the last quarter. Finally, Granite Investment Partners LLC lifted its stake in shares of Arhaus by 14.0% in the 1st quarter. Granite Investment Partners LLC now owns 460,322 shares of the company’s stock valued at $3,121,000 after purchasing an additional 56,628 shares during the last quarter. Hedge funds and other institutional investors own 27.88% of the company’s stock.
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.
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