Arhaus (NASDAQ:ARHS) Shares Gap Up – Here’s What Happened

Arhaus, Inc. (NASDAQ:ARHS)’s stock price gapped up prior to trading on Friday . The stock had previously closed at $10.59, but opened at $11.29. Arhaus shares last traded at $10.81, with a volume of 310,735 shares changing hands.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on ARHS shares. Stifel Nicolaus cut their target price on shares of Arhaus from $19.50 to $16.00 and set a “buy” rating for the company in a research note on Monday, August 12th. Jefferies Financial Group cut shares of Arhaus from a “buy” rating to a “hold” rating and cut their target price for the company from $22.00 to $16.00 in a research note on Monday, July 8th. Telsey Advisory Group reiterated an “outperform” rating and issued a $15.00 target price on shares of Arhaus in a research note on Monday, August 12th. TD Cowen cut their target price on shares of Arhaus from $19.00 to $14.00 and set a “buy” rating for the company in a research note on Friday, August 9th. Finally, Craig Hallum cut their target price on shares of Arhaus from $21.00 to $14.00 and set a “buy” rating for the company in a research note on Friday, August 9th. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $15.00.

Arhaus Stock Up 2.7 %

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 firm’s 50-day moving average is $12.49 and its two-hundred day moving average is $14.81. The stock has a market cap of $1.53 billion, a P/E ratio of 13.93, a PEG ratio of 15.20 and a beta of 2.51.

Arhaus (NASDAQ:ARHS) last released its earnings results on Thursday, August 8th. The company reported $0.16 EPS for the quarter, topping analysts’ consensus estimates of $0.12 by $0.04. Arhaus had a net margin of 6.92% and a return on equity of 28.45%. The firm had revenue of $309.80 million during the quarter, compared to analyst estimates of $314.28 million. During the same quarter in the previous year, the business earned $0.29 EPS. The business’s quarterly revenue was down 1.0% compared to the same quarter last year. On average, equities research analysts anticipate that Arhaus, Inc. will post 0.48 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Venkatachalam Nachiappan sold 6,460 shares of the business’s stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $16.11, for a total value of $104,070.60. Following the completion of the transaction, the insider now owns 36,736 shares of the company’s stock, valued at $591,816.96. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 1.52% of the company’s stock.

Hedge Funds Weigh In On Arhaus

Several institutional investors and hedge funds have recently made changes to their positions in the company. Amalgamated Bank bought a new stake in shares of Arhaus in the second quarter valued at about $30,000. Quest Partners LLC lifted its holdings 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 valued at $121,000 after purchasing an additional 7,168 shares in the last quarter. Ground Swell Capital LLC bought a new stake in shares of Arhaus in the second quarter valued at about $183,000. Ballentine Partners LLC bought a new stake in shares of Arhaus in the first quarter valued at about $204,000. Finally, Aspiriant LLC bought a new stake in shares of Arhaus in the first quarter valued at about $204,000. Institutional investors and hedge funds own 27.88% of the company’s stock.

Arhaus Company 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.