JPMorgan Chase & Co. Raises Stock Holdings in Arhaus, Inc. (NASDAQ:ARHS)

JPMorgan Chase & Co. raised its position in shares of Arhaus, Inc. (NASDAQ:ARHS) by 1,808.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,962,232 shares of the company’s stock after buying an additional 1,859,398 shares during the quarter. JPMorgan Chase & Co.’s holdings in Arhaus were worth $24,155,000 at the end of the most recent quarter.

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

Arhaus Price Performance

Shares of NASDAQ:ARHS opened at $9.46 on Thursday. The firm has a market cap of $1.33 billion, a price-to-earnings ratio of 16.89, a P/E/G ratio of 14.78 and a beta of 2.58. The firm has a fifty day moving average price of $9.75 and a 200 day moving average price of $11.78. Arhaus, Inc. has a fifty-two week low of $8.30 and a fifty-two week high of $19.81. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.52 and a current ratio of 1.23.

Arhaus (NASDAQ:ARHS) last issued its 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 return on equity of 24.92% and a net margin of 6.18%. The firm had revenue of $319.13 million during the quarter, compared to the consensus estimate of $328.94 million. During the same period last year, the firm posted $0.14 earnings per share. The company’s revenue for the quarter was down 2.2% compared to the same quarter last year. As a group, sell-side analysts expect that Arhaus, Inc. will post 0.42 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on ARHS shares. Telsey Advisory Group raised Arhaus from a “market perform” rating to an “outperform” rating and increased their price target for the company from $11.00 to $12.00 in a report on Thursday, November 14th. Craig Hallum downgraded shares of Arhaus from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $14.00 to $10.00 in a report on Tuesday, October 15th. Barclays reduced their target price on shares of Arhaus from $15.00 to $13.00 and set an “overweight” rating for the company in a report on Friday, November 8th. Stifel Nicolaus lowered their target price on Arhaus from $16.00 to $13.00 and set a “buy” rating on the stock in a research report on Monday, November 4th. Finally, Wedbush cut their price objective on Arhaus from $11.00 to $10.00 and set a “neutral” rating for the company in a research note on Friday, November 8th. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $12.90.

Arhaus 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.