Arhaus, Inc. (NASDAQ:ARHS – Get Rating)’s share price was up 10.1% during mid-day trading on Monday after Morgan Stanley raised their price target on the stock from $8.00 to $9.00. Morgan Stanley currently has an equal weight rating on the stock. Arhaus traded as high as $8.92 and last traded at $8.82. Approximately 17,827 shares traded hands during mid-day trading, a decline of 96% from the average daily volume of 409,188 shares. The stock had previously closed at $8.01.
ARHS has been the subject of several other research reports. Robert W. Baird lowered their price target on Arhaus from $14.00 to $12.00 in a research note on Thursday, May 12th. Piper Sandler decreased their price target on Arhaus from $15.00 to $10.00 and set an “overweight” rating for the company in a research note on Wednesday, July 20th. Finally, Telsey Advisory Group decreased their price target on Arhaus from $12.00 to $9.00 and set an “outperform” rating on the stock in a research note on Monday, August 8th. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, Arhaus presently has an average rating of “Moderate Buy” and an average target price of $12.25.
Insider Buying and Selling
In related news, insider Kathy E. Veltri sold 13,144 shares of the business’s stock in a transaction dated Thursday, June 2nd. The shares were sold at an average price of $6.00, for a total transaction of $78,864.00. Following the transaction, the insider now directly owns 506,406 shares in the company, valued at $3,038,436. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Kathy E. Veltri sold 13,144 shares of Arhaus stock in a transaction that occurred on Thursday, June 2nd. The shares were sold at an average price of $6.00, for a total value of $78,864.00. Following the completion of the transaction, the insider now owns 506,406 shares in the company, valued at $3,038,436. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Kathy E. Veltri sold 28,358 shares of the company’s stock in a transaction on Monday, May 23rd. The stock was sold at an average price of $6.00, for a total transaction of $170,148.00. Following the transaction, the insider now owns 554,598 shares of the company’s stock, valued at approximately $3,327,588. The disclosure for this sale can be found here. Over the last three months, insiders have acquired 72,918 shares of company stock worth $437,554 and have sold 60,661 shares worth $364,151. 1.60% of the stock is currently owned by company insiders.
Hedge Funds Weigh In On Arhaus
A number of large investors have recently made changes to their positions in the stock. Quantbot Technologies LP purchased a new position in shares of Arhaus in the 2nd quarter valued at about $29,000. Virtu Financial LLC acquired a new stake in Arhaus in the 2nd quarter valued at about $45,000. Renaissance Technologies LLC grew its position in shares of Arhaus by 6.7% during the second quarter. Renaissance Technologies LLC now owns 238,700 shares of the company’s stock worth $1,074,000 after buying an additional 14,900 shares in the last quarter. Principal Financial Group Inc. acquired a new stake in shares of Arhaus during the second quarter worth approximately $72,000. Finally, Lazard Asset Management LLC grew its position in shares of Arhaus by 65.0% during the second quarter. Lazard Asset Management LLC now owns 14,668 shares of the company’s stock worth $66,000 after buying an additional 5,776 shares in the last quarter. Hedge funds and other institutional investors own 92.54% of the company’s stock.
Arhaus Price Performance
The company has a debt-to-equity ratio of 0.42, a current ratio of 1.07 and a quick ratio of 0.43. The firm has a market cap of $1.22 billion and a price-to-earnings ratio of 15.26. The business’s 50-day moving average price is $5.43 and its two-hundred day moving average price is $6.61.
Arhaus (NASDAQ:ARHS – Get Rating) last released its quarterly earnings results on Thursday, August 11th. The company reported $0.28 earnings per share for the quarter, topping analysts’ consensus estimates of $0.12 by $0.16. Arhaus had a net margin of 7.59% and a return on equity of 134.88%. On average, research analysts forecast that Arhaus, Inc. will post 0.7 EPS for the current fiscal year.
Arhaus Company Profile
Arhaus, Inc operates as a lifestyle brand and premium retailer in the home furnishings market. 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 and modular storage, etc.; and outdoor products include outdoor dining tables, chairs, chaises and other furniture, lighting, textiles, décor, umbrellas, and fire pits.