Arhaus, Inc. (NASDAQ:ARHS) Holdings Raised by New York State Common Retirement Fund

Key Points

• The New York State Common Retirement Fund increased its stake in Arhaus, Inc. by 69.8% during the first quarter, now owning approximately 0.07% of the company valued at $901,000.
• Arhaus, Inc. reported a net margin of 4.53% and earnings of $0.03 per share, missing analysts' expectations by $0.03.
• Analysts currently rate Arhaus as a "Hold" with a consensus price target of $10.50, following various upgrades and downgrades from research firms.

New York State Common Retirement Fund lifted its stake in shares of Arhaus, Inc. (NASDAQ:ARHS - Free Report) by 69.8% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 103,606 shares of the company's stock after purchasing an additional 42,601 shares during the quarter. New York State Common Retirement Fund owned about 0.07% of Arhaus worth $901,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of ARHS. Raymond James Financial Inc. acquired a new stake in Arhaus during the 4th quarter worth about $530,000. Intech Investment Management LLC grew its stake in shares of Arhaus by 55.5% in the 4th quarter. Intech Investment Management LLC now owns 16,598 shares of the company's stock valued at $156,000 after buying an additional 5,925 shares in the last quarter. Sei Investments Co. boosted its position in Arhaus by 5.7% during the fourth quarter. Sei Investments Co. now owns 586,892 shares of the company's stock worth $5,517,000 after purchasing an additional 31,679 shares during the period. KLP Kapitalforvaltning AS bought a new stake in Arhaus during the fourth quarter worth approximately $69,000. Finally, Vanguard Group Inc. boosted its position in Arhaus by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 5,062,635 shares of the company's stock worth $47,589,000 after purchasing an additional 50,250 shares during the period. 27.88% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on ARHS. Piper Sandler reduced their price objective on Arhaus from $12.00 to $10.00 and set a "neutral" rating for the company in a research report on Monday, May 5th. Raymond James Financial initiated coverage on Arhaus in a research note on Monday, June 9th. They set a "market perform" rating for the company. Baird R W lowered Arhaus from a "strong-buy" rating to a "hold" rating in a research note on Monday, April 7th. Telsey Advisory Group reiterated a "market perform" rating and issued a $10.00 price target on shares of Arhaus in a report on Thursday, May 15th. Finally, Guggenheim decreased their price target on Arhaus from $14.00 to $12.00 and set a "buy" rating on the stock in a report on Friday, May 9th. Twelve analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $10.50.

Arhaus Stock Up 0.7%

Shares of Arhaus stock opened at $9.53 on Friday. The business's 50 day simple moving average is $8.81 and its 200 day simple moving average is $9.44. Arhaus, Inc. has a 52-week low of $6.61 and a 52-week high of $16.46. The firm has a market cap of $1.34 billion, a PE ratio of 23.24, a P/E/G ratio of 5.95 and a beta of 2.56. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.57 and a current ratio of 1.26.

Arhaus (NASDAQ:ARHS - Get Free Report) last announced its earnings results on Thursday, May 8th. The company reported $0.03 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.06 by ($0.03). Arhaus had a net margin of 4.53% and a return on equity of 17.36%. The firm had revenue of $311.37 million during the quarter, compared to analyst estimates of $314.76 million. During the same period in the prior year, the business posted $0.11 EPS. The firm's quarterly revenue was up 5.5% compared to the same quarter last year. On average, analysts predict that Arhaus, Inc. will post 0.46 earnings per share for the current fiscal year.

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.

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