Arhaus (NASDAQ:ARHS) Issues Quarterly Earnings Results, Beats Estimates By $0.03 EPS

Arhaus (NASDAQ:ARHSGet Rating) announced its quarterly earnings data on Wednesday. The company reported $0.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.03, MarketWatch Earnings reports. Arhaus updated its FY 2022 guidance to EPS.

Shares of ARHS traded down $0.05 during trading hours on Thursday, reaching $6.19. 810,404 shares of the company’s stock traded hands, compared to its average volume of 395,204. Arhaus has a twelve month low of $5.83 and a twelve month high of $14.95. The stock has a fifty day simple moving average of $7.48.

Several equities research analysts have weighed in on the company. Zacks Investment Research lowered Arhaus from a “hold” rating to a “sell” rating in a research report on Monday, March 28th. Guggenheim dropped their target price on Arhaus from $14.00 to $12.00 and set a “buy” rating on the stock in a research report on Tuesday, April 5th. Robert W. Baird dropped their target price on Arhaus from $14.00 to $12.00 in a research report on Thursday. Finally, Telsey Advisory Group increased their target price on Arhaus from $11.00 to $12.00 and gave the stock an “outperform” rating in a research report on Thursday, March 31st. One investment analyst has rated the stock with a sell rating, one has given a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $13.47.

Several institutional investors and hedge funds have recently modified their holdings of ARHS. Goldman Sachs Group Inc. bought a new position in Arhaus during the fourth quarter valued at about $13,127,000. Marshall Wace LLP bought a new position in Arhaus during the fourth quarter valued at about $6,855,000. Citadel Advisors LLC bought a new position in Arhaus during the fourth quarter valued at about $3,298,000. BlackRock Inc. bought a new position in Arhaus during the fourth quarter valued at about $2,706,000. Finally, Geode Capital Management LLC bought a new position in Arhaus during the fourth quarter valued at about $1,827,000. 92.54% of the stock is currently owned by institutional investors.

About Arhaus (Get Rating)

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.

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