Brokers Set Expectations for Arhaus, Inc.’s Q2 2023 Earnings (NASDAQ:ARHS)
Arhaus, Inc. (NASDAQ:ARHS – Get Rating) – Equities researchers at Jefferies Financial Group increased their Q2 2023 earnings per share estimates for shares of Arhaus in a research report issued on Monday, January 9th. Jefferies Financial Group analyst J. Matuszewski now anticipates that the company will post earnings per share of $0.27 for the quarter, up from their prior estimate of $0.26. The consensus estimate for Arhaus’ current full-year earnings is $0.84 per share. Jefferies Financial Group also issued estimates for Arhaus’ Q3 2023 earnings at $0.27 EPS and FY2024 earnings at $0.99 EPS.
ARHS has been the subject of several other research reports. William Blair restated an “outperform” rating on shares of Arhaus in a research report on Friday, October 28th. Robert W. Baird upped their price objective on shares of Arhaus from $12.00 to $13.00 in a research note on Tuesday. Bank of America lifted their target price on shares of Arhaus from $12.00 to $16.50 in a research note on Wednesday. Morgan Stanley increased their price target on Arhaus from $9.00 to $11.00 and gave the stock an “equal weight” rating in a research report on Friday, November 11th. Finally, Barclays cut their price objective on Arhaus to $13.00 in a research report on Wednesday, November 16th. One analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $12.79.
Arhaus Price Performance
Arhaus stock opened at $12.21 on Thursday. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.14 and a quick ratio of 0.45. The company has a market capitalization of $1.71 billion, a PE ratio of 17.20, a price-to-earnings-growth ratio of 0.84 and a beta of 2.40. Arhaus has a one year low of $4.23 and a one year high of $12.49. The business has a 50 day simple moving average of $9.54 and a 200 day simple moving average of $7.99.
Arhaus (NASDAQ:ARHS – Get Rating) last announced its quarterly earnings data on Thursday, November 10th. The company reported $0.27 EPS for the quarter, topping analysts’ consensus estimates of $0.15 by $0.12. Arhaus had a return on equity of 101.46% and a net margin of 8.82%. The company had revenue of $320.03 million during the quarter, compared to the consensus estimate of $293.10 million.
Hedge Funds Weigh In On Arhaus
Several large investors have recently made changes to their positions in ARHS. Quantbot Technologies LP bought a new stake in Arhaus during the 2nd quarter worth about $29,000. UBS Group AG bought a new position in Arhaus in the first quarter valued at approximately $36,000. Virtu Financial LLC acquired a new stake in Arhaus during the 2nd quarter worth $45,000. PDT Partners LLC acquired a new stake in Arhaus during the 2nd quarter worth $48,000. Finally, Lazard Asset Management LLC lifted its stake in shares of Arhaus by 65.0% in the 2nd quarter. Lazard Asset Management LLC now owns 14,668 shares of the company’s stock valued at $66,000 after purchasing an additional 5,776 shares during the period. Institutional investors and hedge funds own 30.55% of the company’s stock.
Arhaus Company Profile
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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