Arhaus (NASDAQ:ARHS) Downgraded by Bank of America to Neutral

Arhaus (NASDAQ:ARHS) was downgraded by equities research analysts at Bank of America from a “buy” rating to a “neutral” rating in a note issued to investors on Thursday, Marketbeat.com reports. They currently have a $11.00 price target on the stock, down from their previous price target of $15.00. Bank of America‘s price objective would suggest a potential upside of 15.42% from the company’s previous close.

A number of other analysts have also weighed in on ARHS. Jefferies Financial Group restated a “hold” rating and issued a $12.00 target price on shares of Arhaus in a research note on Wednesday, October 9th. TD Cowen reduced their target price on shares of Arhaus from $19.00 to $14.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. Barclays decreased their price target on shares of Arhaus from $17.00 to $15.00 and set an “overweight” rating on the stock in a research note on Friday, August 9th. Robert W. Baird reduced their price objective on Arhaus from $18.00 to $14.00 and set an “outperform” rating on the stock in a report on Friday, August 9th. Finally, Craig Hallum cut Arhaus from a “buy” rating to a “hold” rating and lowered their target price for the company from $14.00 to $10.00 in a research note on Tuesday, October 15th. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, Arhaus currently has a consensus rating of “Moderate Buy” and an average price target of $13.20.

Arhaus Stock Performance

Shares of ARHS stock traded up $0.41 during trading hours on Thursday, reaching $9.53. 3,185,855 shares of the company’s stock were exchanged, compared to its average volume of 1,282,388. Arhaus has a fifty-two week low of $8.04 and a fifty-two week high of $19.81. The stock has a market capitalization of $1.34 billion, a P/E ratio of 15.11, a P/E/G ratio of 9.92 and a beta of 2.58. The business has a fifty day moving average price of $10.76 and a 200-day moving average price of $13.84. The company has a quick ratio of 0.55, a current ratio of 1.25 and a debt-to-equity ratio of 0.17.

Arhaus (NASDAQ:ARHS) last announced its earnings results on Thursday, August 8th. The company reported $0.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.12 by $0.04. The business had revenue of $309.80 million during the quarter, compared to analysts’ expectations of $314.28 million. Arhaus had a net margin of 6.92% and a return on equity of 28.45%. The firm’s revenue for the quarter was down 1.0% on a year-over-year basis. During the same quarter last year, the company posted $0.29 EPS. Analysts predict that Arhaus will post 0.47 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Oppenheimer Asset Management Inc. lifted its holdings in Arhaus by 23.0% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 118,042 shares of the company’s stock valued at $1,453,000 after purchasing an additional 22,076 shares during the last quarter. Victory Capital Management Inc. grew its stake in Arhaus by 5.8% in the 3rd quarter. Victory Capital Management Inc. now owns 25,893 shares of the company’s stock valued at $319,000 after buying an additional 1,416 shares during the last quarter. North Growth Management Ltd. raised its holdings in Arhaus by 15.0% in the 3rd quarter. North Growth Management Ltd. now owns 553,000 shares of the company’s stock valued at $6,813,000 after acquiring an additional 72,000 shares during the period. Privium Fund Management B.V. lifted its position in Arhaus by 34.7% during the third quarter. Privium Fund Management B.V. now owns 21,750 shares of the company’s stock worth $268,000 after acquiring an additional 5,600 shares during the last quarter. Finally, Principal Financial Group Inc. bought a new stake in shares of Arhaus during the third quarter worth approximately $814,000. 27.88% of the stock is currently owned by institutional investors.

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.