Arhaus (NASDAQ:ARHS) Downgraded to Neutral Rating by Bank of America

Bank of America cut shares of Arhaus (NASDAQ:ARHS) from a buy rating to a neutral rating in a report released on Thursday, Marketbeat Ratings reports. They currently have $11.00 price objective on the stock, down from their previous price objective of $15.00.

Several other brokerages have also recently weighed in on ARHS. TD Cowen decreased their price target on Arhaus from $19.00 to $14.00 and set a “buy” rating for the company in a research note on Friday, August 9th. Robert W. Baird reduced their price objective 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. Wedbush assumed coverage on shares of Arhaus in a research report on Friday, October 11th. They set a “neutral” rating and a $11.00 price target on the stock. Jefferies Financial Group reissued a “hold” rating and issued a $12.00 price target on shares of Arhaus in a research note on Wednesday, October 9th. Finally, Stifel Nicolaus decreased their price objective on Arhaus from $16.00 to $13.00 and set a “buy” rating for the company in a report on Monday. Five investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $12.80.

Arhaus Trading Up 1.9 %

Shares of NASDAQ:ARHS traded up $0.18 during midday trading on Thursday, hitting $9.88. 1,175,351 shares of the stock were exchanged, compared to its average volume of 1,291,961. The business’s 50-day moving average price is $10.70 and its 200 day moving average price is $13.81. Arhaus has a 12 month low of $8.04 and a 12 month high of $19.81. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.55 and a current ratio of 1.25. The stock has a market capitalization of $1.39 billion, a price-to-earnings ratio of 15.68, a P/E/G ratio of 9.98 and a beta of 2.58.

Arhaus (NASDAQ:ARHS) last released its quarterly earnings results on Thursday, November 7th. The company reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.08 by ($0.01). Arhaus had a net margin of 6.92% and a return on equity of 28.45%. The business had revenue of $319.13 million for the quarter, compared to the consensus estimate of $328.94 million. During the same period in the previous year, the business posted $0.14 EPS. Arhaus’s revenue was down 2.2% on a year-over-year basis. Analysts predict that Arhaus will post 0.47 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Price T Rowe Associates Inc. MD purchased a new stake in Arhaus in the first quarter worth $8,326,000. Sei Investments Co. raised its stake in Arhaus by 192.7% in the 1st quarter. Sei Investments Co. now owns 383,091 shares of the company’s stock valued at $5,896,000 after acquiring an additional 252,192 shares during the period. Harbor Capital Advisors Inc. lifted its holdings in Arhaus by 273.4% during the second quarter. Harbor Capital Advisors Inc. now owns 153,764 shares of the company’s stock valued at $2,605,000 after purchasing an additional 112,583 shares during the last quarter. Russell Investments Group Ltd. boosted its position in Arhaus by 142.4% during the first quarter. Russell Investments Group Ltd. now owns 311,509 shares of the company’s stock worth $4,794,000 after purchasing an additional 182,979 shares during the period. Finally, Carnegie Investment Counsel increased its stake in shares of Arhaus by 176.8% in the third quarter. Carnegie Investment Counsel now owns 294,740 shares of the company’s stock worth $3,628,000 after purchasing an additional 188,240 shares in the last quarter. 27.88% of the stock is owned by institutional investors.

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.