Principal Financial Group Inc. Takes Position in Arhaus, Inc. (NASDAQ:ARHS)

Principal Financial Group Inc. acquired a new position in Arhaus, Inc. (NASDAQ:ARHS) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 66,089 shares of the company’s stock, valued at approximately $814,000.

Several other hedge funds have also recently bought and sold shares of the business. Amalgamated Bank bought a new stake in shares of Arhaus during the 2nd quarter worth about $30,000. Quantbot Technologies LP acquired a new stake in Arhaus in the 3rd quarter worth approximately $43,000. Quest Partners LLC boosted its position in Arhaus by 716,800.0% during the second quarter. Quest Partners LLC now owns 7,169 shares of the company’s stock worth $121,000 after purchasing an additional 7,168 shares during the period. Intech Investment Management LLC acquired a new position in Arhaus during the third quarter valued at approximately $131,000. Finally, Ground Swell Capital LLC bought a new position in shares of Arhaus in the second quarter valued at approximately $183,000. 27.88% of the stock is owned by institutional investors and hedge funds.

Arhaus Stock Performance

Shares of NASDAQ ARHS opened at $9.19 on Friday. The firm has a market capitalization of $1.29 billion, a price-to-earnings ratio of 16.41, a PEG ratio of 14.78 and a beta of 2.58. Arhaus, Inc. has a one year low of $8.30 and a one year high of $19.81. The business has a fifty day simple moving average of $9.71 and a 200 day simple moving average of $11.98. The company has a current ratio of 1.23, a quick ratio of 0.52 and a debt-to-equity ratio of 0.17.

Arhaus (NASDAQ:ARHS) last announced its quarterly earnings data on Thursday, November 7th. The company reported $0.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.01). Arhaus had a net margin of 6.18% and a return on equity of 24.92%. The business had revenue of $319.13 million during the quarter, compared to analyst estimates of $328.94 million. During the same quarter in the prior year, the company posted $0.14 EPS. The company’s quarterly revenue was down 2.2% compared to the same quarter last year. Sell-side analysts expect that Arhaus, Inc. will post 0.42 EPS for the current year.

Analysts Set New Price Targets

A number of research firms recently issued reports on ARHS. Jefferies Financial Group reiterated a “hold” rating and issued a $12.00 target price on shares of Arhaus in a research note on Wednesday, October 9th. Wedbush dropped their price objective on Arhaus from $11.00 to $10.00 and set a “neutral” rating on the stock in a research note on Friday, November 8th. Craig Hallum cut Arhaus from a “buy” rating to a “hold” rating and cut their price objective for the stock from $14.00 to $10.00 in a research report on Tuesday, October 15th. Telsey Advisory Group raised Arhaus from a “market perform” rating to an “outperform” rating and raised their target price for the company from $11.00 to $12.00 in a report on Thursday, November 14th. Finally, Stifel Nicolaus cut their price target on Arhaus from $16.00 to $13.00 and set a “buy” rating for the company in a report on Monday, November 4th. Four equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $12.90.

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.