Arhaus (NASDAQ:ARHS) Upgraded at Zacks Investment Research

Arhaus (NASDAQ:ARHSGet Rating) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Wednesday, Zacks.com reports. The brokerage presently has a $6.50 target price on the stock. Zacks Investment Research‘s price objective suggests a potential upside of 12.65% from the stock’s previous close.

According to Zacks, “Arhaus Inc. is a lifestyle brand and omni-channel retailer of premium home furnishings. The company offers assortment of heirloom quality products. Arhaus Inc. is based in BOSTON HEIGHTS, Ohio. “

Several other brokerages also recently issued reports on ARHS. Telsey Advisory Group raised their price objective on shares of Arhaus from $11.00 to $12.00 and gave the stock an “outperform” rating in a research report on Thursday, March 31st. Guggenheim lowered their target price on shares of Arhaus from $14.00 to $12.00 and set a “buy” rating on the stock in a report on Tuesday, April 5th. Finally, Robert W. Baird lowered their target price on shares of Arhaus from $14.00 to $12.00 in a report on Thursday, May 12th. One research analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $13.39.

Arhaus stock traded down $0.02 during midday trading on Wednesday, hitting $5.77. 678,741 shares of the company’s stock were exchanged, compared to its average volume of 419,375. Arhaus has a 12-month low of $5.30 and a 12-month high of $14.95. The firm’s 50 day simple moving average is $7.19 and its 200 day simple moving average is $8.56.

Arhaus (NASDAQ:ARHSGet Rating) last issued its quarterly earnings data on Wednesday, May 11th. The company reported $0.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.03. The business had revenue of $246.30 million for the quarter, compared to analysts’ expectations of $234.98 million. As a group, equities analysts expect that Arhaus will post 0.63 earnings per share for the current year.

In other Arhaus news, CEO John P. Reed bought 40,000 shares of the business’s stock in a transaction on Friday, May 13th. The stock was bought at an average price of $6.19 per share, for a total transaction of $247,600.00. Following the completion of the transaction, the chief executive officer now owns 41,000 shares in the company, valued at approximately $253,790. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Dawn Phillipson bought 10,000 shares of the business’s stock in a transaction on Tuesday, May 24th. The shares were acquired at an average price of $5.52 per share, with a total value of $55,200.00. Following the transaction, the chief financial officer now owns 634,985 shares of the company’s stock, valued at approximately $3,505,117.20. The disclosure for this purchase can be found here. In the last quarter, insiders purchased 132,918 shares of company stock valued at $814,354 and sold 89,451 shares valued at $538,149. 1.60% of the stock is owned by company insiders.

Institutional investors and hedge funds have recently made changes to their positions in the business. Signaturefd LLC acquired a new position in Arhaus during the fourth quarter worth about $27,000. Point72 Hong Kong Ltd acquired a new position in shares of Arhaus in the fourth quarter valued at approximately $29,000. UBS Group AG acquired a new position in shares of Arhaus in the first quarter valued at approximately $36,000. Lazard Asset Management LLC acquired a new position in shares of Arhaus in the fourth quarter valued at approximately $75,000. Finally, GSA Capital Partners LLP acquired a new position in shares of Arhaus in the first quarter valued at approximately $99,000. Institutional investors own 92.54% of the company’s stock.

Arhaus Company Profile (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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