Rhumbline Advisers has raised its holdings in Arhaus, Inc. (NASDAQ:ARHS) by 3.2% during the first quarter, acquiring an additional 2,255 shares. Following this purchase, Rhumbline owns 73,761 shares, representing approximately 0.05% of Arhaus, valued at around $642,000.
© Arhaus
Other institutional investors have also adjusted their positions. Ameriprise Financial increased its stake by 59.9% to 202,953 shares, while BNP Paribas Financial Markets, Cetera Investment Advisers, and Millennium Management LLC established new positions in Arhaus. Currently, around 27.88% of Arhaus stock is held by institutional investors.
Several brokerages have provided price targets and ratings on Arhaus shares. Morgan Stanley raised its price target from $10.00 to $12.50, while Piper Sandler increased its target to $11.00 from $9.00. The company has a consensus "Hold" rating with an average price target of $10.92.
Arhaus recently reported its quarterly earnings, posting $0.25 EPS, surpassing analysts' estimate of $0.15, on revenue of $358.44 million, up 15.6% year-over-year. The company operates as a lifestyle brand and premium home furnishings retailer in the U.S., offering furniture, lighting, textiles, décor, and outdoor products across living spaces including bedrooms, dining rooms, living rooms, home offices, and outdoor areas.
Shares of Arhaus opened at $11.05, with a one-year range of $6.61 to $13.37 and a market capitalization of $1.56 billion. Analysts forecast $0.46 EPS for the current fiscal year, reflecting steady growth potential in the premium furniture segment.
Source: www.defenseworld.net
