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

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

Several other research analysts have also issued reports on the stock. Stifel Nicolaus lowered their price target on shares of Arhaus from $16.00 to $13.00 and set a “buy” rating for the company in a report on Monday. Telsey Advisory Group restated an “outperform” rating and issued a $12.00 target price on shares of Arhaus in a report on Thursday. Craig Hallum downgraded Arhaus from a “buy” rating to a “hold” rating and dropped their price objective for the company from $14.00 to $10.00 in a research note on Tuesday, October 15th. Wedbush started coverage on Arhaus in a report on Friday, October 11th. They set a “neutral” rating and a $11.00 price objective for the company. Finally, Robert W. Baird cut their price objective on shares of Arhaus from $18.00 to $14.00 and set an “outperform” rating on the stock in a report on Friday, August 9th. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $13.20.

Arhaus Price Performance

NASDAQ ARHS traded up $0.41 during trading on Thursday, hitting $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 company has a market cap of $1.34 billion, a PE ratio of 15.11, a P/E/G ratio of 9.92 and a beta of 2.58. 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 stock’s 50 day moving average price is $10.76 and its two-hundred day moving average price is $13.84.

Arhaus (NASDAQ:ARHS) last posted its earnings results on Thursday, August 8th. The company reported $0.16 EPS for the quarter, topping the consensus estimate of $0.12 by $0.04. The business had revenue of $309.80 million for the quarter, compared to the consensus estimate of $314.28 million. Arhaus had a net margin of 6.92% and a return on equity of 28.45%. The firm’s revenue was down 1.0% compared to the same quarter last year. During the same period last year, the company earned $0.29 EPS. Research analysts expect that Arhaus will post 0.47 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Price T Rowe Associates Inc. MD purchased a new stake in Arhaus during the 1st quarter worth about $8,326,000. Sei Investments Co. raised its holdings in shares of Arhaus by 192.7% in the 1st quarter. Sei Investments Co. now owns 383,091 shares of the company’s stock valued at $5,896,000 after acquiring an additional 252,192 shares in the last quarter. Harbor Capital Advisors Inc. raised its stake in Arhaus by 273.4% in the second quarter. Harbor Capital Advisors Inc. now owns 153,764 shares of the company’s stock valued at $2,605,000 after purchasing an additional 112,583 shares in the last quarter. Russell Investments Group Ltd. raised its position in shares of Arhaus by 142.4% during the 1st quarter. Russell Investments Group Ltd. now owns 311,509 shares of the company’s stock valued at $4,794,000 after buying an additional 182,979 shares in the last quarter. Finally, Carnegie Investment Counsel grew its position in Arhaus by 176.8% in the third quarter. Carnegie Investment Counsel now owns 294,740 shares of the company’s stock worth $3,628,000 after acquiring an additional 188,240 shares in the last quarter. Institutional investors 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.