Arhaus, Inc. Expected to Post Q3 2023 Earnings of $0.09 Per Share (NASDAQ:ARHS)

Posted by Defense World Staff on Aug 28th, 2023

Arhaus, Inc. (NASDAQ:ARHS – Free Report) – Analysts at William Blair dropped their Q3 2023 earnings estimates for Arhaus in a report issued on Wednesday, August 23rd. William Blair analyst P. Blee now expects that the company will post earnings of $0.09 per share for the quarter, down from their previous forecast of $0.15. The consensus estimate for Arhaus’ current full-year earnings is $0.83 per share.

Other equities analysts have also issued research reports about the stock. Barclays boosted their target price on shares of Arhaus from $12.00 to $14.00 and gave the company an “overweight” rating in a report on Thursday, August 10th. Piper Sandler lifted their price target on shares of Arhaus from $13.00 to $16.00 and gave the company an “overweight” rating in a research note on Thursday, August 10th. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $15.00 price target on shares of Arhaus in a research note on Wednesday, August 16th. Bank of America lifted their price target on shares of Arhaus from $11.00 to $12.00 in a research note on Friday, July 14th. Finally, Craig Hallum lifted their price target on shares of Arhaus from $15.00 to $20.00 and gave the company a “buy” rating in a research note on Thursday, August 10th. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $14.44.

View Our Latest Research Report on ARHS

Arhaus Price Performance

ARHS stock opened at $9.52 on Monday. The firm has a market cap of $1.34 billion, a price-to-earnings ratio of 8.42 and a beta of 2.52. The company has a quick ratio of 0.66, a current ratio of 1.51 and a debt-to-equity ratio of 0.19. Arhaus has a 12-month low of $6.75 and a 12-month high of $15.27. The company’s fifty day simple moving average is $10.74 and its 200 day simple moving average is $9.88.

Institutional Investors Weigh In On Arhaus

Institutional investors have recently added to or reduced their stakes in the company. Virtu Financial LLC bought a new stake in Arhaus in the 1st quarter worth about $136,000. Concentric Capital Strategies LP purchased a new position in Arhaus in the fourth quarter valued at about $106,000. Summit Creek Advisors LLC boosted its stake in Arhaus by 0.7% in the first quarter. Summit Creek Advisors LLC now owns 1,238,479 shares of the company’s stock valued at $10,267,000 after acquiring an additional 9,010 shares during the last quarter. Janney Montgomery Scott LLC purchased a new position in Arhaus in the first quarter valued at about $296,000. Finally, Jump Financial LLC boosted its stake in Arhaus by 262.9% in the first quarter. Jump Financial LLC now owns 132,807 shares of the company’s stock valued at $1,101,000 after acquiring an additional 96,207 shares during the last quarter. 34.33% of the stock is owned by institutional investors.

Insider Transactions at Arhaus

In other news, major shareholder Fs Capital Partners Vi, Llc sold 13,800,000 shares of the business’s stock in a transaction dated Wednesday, August 16th. The shares were sold at an average price of $10.00, for a total transaction of $138,000,000.00. Following the completion of the sale, the insider now directly owns 16,724,202 shares of the company’s stock, valued at $167,242,020. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Arhaus news, major shareholder Fs Capital Partners Vi, Llc sold 13,800,000 shares of the company’s stock in a transaction dated Wednesday, August 16th. The shares were sold at an average price of $10.00, for a total value of $138,000,000.00. Following the completion of the sale, the insider now directly owns 16,724,202 shares of the company’s stock, valued at approximately $167,242,020. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Dawn Sparks sold 70,363 shares of the company’s stock in a transaction dated Thursday, August 3rd. The stock was sold at an average price of $12.00, for a total transaction of $844,356.00. Following the completion of the sale, the insider now directly owns 310,456 shares of the company’s stock, valued at $3,725,472. The disclosure for this sale can be found here. 1.52% of the stock is currently owned by insiders.

About Arhaus

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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, modular storage, etc.; and outdoor products, such as outdoor dining tables, chairs, chaises and other furniture, lighting, textiles, décor, umbrellas, and fire pits.