Wedbush Starts Coverage of Arhaus with Neutral Rating
On October 11, 2024, Fintel announced that Wedbush began coverage of Arhaus (NasdaqGS:ARHS), assigning a Neutral recommendation to the stock.
Analysts Expect a Price Surge
As of September 26, 2024, the average one-year price target for Arhaus stands at $15.02 per share. Estimates vary, with a low of $13.13 and a high of $18.90. This average target indicates a potential upside of 42.79% from the recent closing price of $10.52 per share.
Find out which companies have the biggest potential price gains.
Revenue and Earnings Projections
Arhaus’s projected annual revenue is estimated at $1,503 million, reflecting an increase of 17.86%. Additionally, the forecasted annual non-GAAP earnings per share (EPS) is $1.01.
Fund Ownership Trends
Currently, 303 funds or institutions report holdings in Arhaus, marking an increase of 42 owners, or 16.09%, in the past quarter. The average portfolio weight dedicated to ARHS across all funds is 0.24%, up by 9.79%. Over the last three months, the total shares owned by institutions surged by 34.74% to 70,673,000 shares. 
However, the put/call ratio for ARHS currently sits at 5.03, suggesting a bearish outlook among traders.
Institutional Shareholder Actions
Wasatch Advisors has increased its stake to 9,524,000 shares, now holding 17.81% of the company. This is an increase from 8,792,000 shares, showing a growth of 7.68%. The firm also boosted its portfolio allocation in ARHS by 21.94% last quarter.
Capital Research Global Investors owns 5,065,000 shares, representing 9.47% of the company.
Meanwhile, SMCWX – SMALLCAP WORLD FUND INC holds 4,369,000 shares, equating to 8.17% ownership.
American Century Companies has also increased its holdings to 4,060,000 shares, now at 7.60% ownership, a significant rise from 1,841,000 shares previously, marking a growth of 54.66% and a portfolio allocation increase in ARHS of 136.42% over the last quarter.
WGROX – Wasatch Core Growth Fund Investor Class holds 3,561,000 shares for a 6.66% stake, also reporting an increase from 3,114,000 shares, or 12.57% more, raising its portfolio allocation by 25.22% since last quarter.
About Arhaus
(Description provided by the company.)
Founded in 1986 and based in Boston Heights, Ohio, Arhaus, Inc. offers a diverse range of products, including furniture, lighting, textiles, and outdoor items. Their inventory covers bedroom, dining, and living room furnishings, along with handcrafted indoor and outdoor rugs, bed linens, and decorative accessories, such as wall art and candles. Arhaus operates through multiple channels, including showrooms, an e-commerce platform, catalog sales, and in-home designer services.
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This article originally appeared on Fintel.
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