Wedbush Initiates Coverage on Arhaus (NASDAQ:ARHS)

Wedbush started coverage on shares of Arhaus (NASDAQ:ARHS) in a research report sent to investors on Friday, Marketbeat Ratings reports. The firm issued a neutral rating and a $11.00 price target on the stock.

ARHS has been the subject of several other reports. Jefferies Financial Group reaffirmed a hold rating and issued a $12.00 price objective on shares of Arhaus in a research report on Wednesday, October 9th. Stifel Nicolaus decreased their price target on shares of Arhaus from $19.50 to $16.00 and set a buy rating for the company in a report on Monday, August 12th. TD Cowen dropped their price objective on shares of Arhaus from $19.00 to $14.00 and set a buy rating on the stock in a report on Friday, August 9th. Robert W. Baird reduced their target price on Arhaus from $18.00 to $14.00 and set an outperform rating for the company in a research note on Friday, August 9th. Finally, Craig Hallum dropped their price target on Arhaus from $21.00 to $14.00 and set a buy rating on the stock in a research note on Friday, August 9th. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of Moderate Buy and a consensus target price of $14.09.

Arhaus Stock Performance

Shares of ARHS stock opened at $10.52 on Friday. Arhaus has a 12-month low of $7.56 and a 12-month high of $19.81. The business’s fifty day simple moving average is $11.97 and its 200-day simple moving average is $14.62. The company has a current ratio of 1.25, a quick ratio of 0.55 and a debt-to-equity ratio of 0.17. The company has a market cap of $1.48 billion, a PE ratio of 13.84, a PEG ratio of 12.08 and a beta of 2.51.

Arhaus (NASDAQ:ARHS) last announced its earnings results on Thursday, August 8th. The company reported $0.16 earnings per share for the quarter, topping the consensus estimate of $0.12 by $0.04. Arhaus had a return on equity of 28.45% and a net margin of 6.92%. The firm had revenue of $309.80 million for the quarter, compared to the consensus estimate of $314.28 million. During the same period in the previous year, the business earned $0.29 EPS. The firm’s revenue for the quarter was down 1.0% on a year-over-year basis. Analysts expect that Arhaus will post 0.48 earnings per share for the current fiscal year.

Insider Transactions at Arhaus

In related news, insider Venkatachalam Nachiappan sold 6,460 shares of Arhaus 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 sale, the insider now owns 36,736 shares of the company’s stock, valued at approximately $591,816.96. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.52% of the company’s stock.

Institutional Trading of Arhaus

Several institutional investors have recently modified their holdings of ARHS. Amalgamated Bank acquired a new position in shares of Arhaus during the 2nd quarter worth about $30,000. Quest Partners LLC raised its holdings in shares of Arhaus by 716,800.0% during the second quarter. Quest Partners LLC now owns 7,169 shares of the company’s stock valued at $121,000 after acquiring an additional 7,168 shares during the last quarter. Ground Swell Capital LLC purchased a new position in shares of Arhaus in the second quarter valued at approximately $183,000. Ballentine Partners LLC acquired a new stake in shares of Arhaus in the first quarter worth approximately $204,000. Finally, Aspiriant LLC purchased a new stake in shares of Arhaus during the first quarter worth approximately $204,000. Institutional investors and hedge funds 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.