Wasatch Advisors LP Buys 2,536,075 Shares of Arhaus, Inc. (NASDAQ:ARHS)

Wasatch Advisors LP raised its stake in Arhaus, Inc. (NASDAQ:ARHS) by 26.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 12,059,711 shares of the company’s stock after purchasing an additional 2,536,075 shares during the period. Wasatch Advisors LP owned approximately 0.09% of Arhaus worth $148,455,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Amalgamated Bank acquired a new position in shares of Arhaus in the 2nd quarter valued at $30,000. Quantbot Technologies LP acquired a new stake in Arhaus in the 3rd quarter valued at about $43,000. Quest Partners LLC increased its position in Arhaus by 716,800.0% in the 2nd quarter. Quest Partners LLC now owns 7,169 shares of the company’s stock valued at $121,000 after acquiring an additional 7,168 shares in the last quarter. Intech Investment Management LLC acquired a new stake in Arhaus in the 3rd quarter valued at about $131,000. Finally, Ground Swell Capital LLC acquired a new stake in Arhaus in the 2nd quarter valued at about $183,000. Institutional investors and hedge funds own 27.88% of the company’s stock.

Arhaus Stock Performance

Shares of ARHS opened at $9.93 on Friday. 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, Inc. has a twelve month low of $8.30 and a twelve month high of $19.81. The firm’s 50 day moving average price is $10.01 and its two-hundred day moving average price is $13.34. The firm has a market cap of $1.40 billion, a P/E ratio of 17.73, a PEG ratio of 13.25 and a beta of 2.58.

Arhaus (NASDAQ:ARHS) last announced its quarterly earnings results on Thursday, November 7th. The company reported $0.07 earnings per share 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 company had revenue of $319.13 million during the quarter, compared to the consensus estimate of $328.94 million. During the same period in the previous year, the firm posted $0.14 EPS. The business’s quarterly revenue was down 2.2% compared to the same quarter last year. On average, analysts forecast that Arhaus, Inc. will post 0.42 EPS for the current fiscal year.

Wall Street Analyst Weigh In

ARHS has been the subject of several research reports. TD Cowen lowered their price objective on shares of Arhaus from $19.00 to $14.00 and set a “buy” rating for the company in a research report on Friday, August 9th. Jefferies Financial Group restated a “hold” rating and issued a $12.00 price objective on shares of Arhaus in a research report on Wednesday, October 9th. Stifel Nicolaus lowered their price objective on shares of Arhaus from $16.00 to $13.00 and set a “buy” rating for the company in a research report on Monday, November 4th. Robert W. Baird lowered their price objective on shares of Arhaus from $18.00 to $14.00 and set an “outperform” rating for the company in a research report on Friday, August 9th. Finally, Wedbush lowered their price objective on shares of Arhaus from $11.00 to $10.00 and set a “neutral” rating for the company in a research report on Friday, November 8th. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus 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.