Ethan Allen Interiors (NYSE:ETD) Hits New 12-Month Low – Here’s Why

Ethan Allen Interiors Inc. (NYSE:ETD)’s stock price hit a new 52-week low during trading on Wednesday . The stock traded as low as $23.02 and last traded at $23.0450, with a volume of 29690 shares trading hands. The stock had previously closed at $23.51.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on ETD shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Ethan Allen Interiors in a report on Friday, October 31st. Telsey Advisory Group cut their target price on Ethan Allen Interiors from $30.00 to $28.00 and set a “market perform” rating on the stock in a research note on Thursday, October 30th. Finally, Zacks Research cut Ethan Allen Interiors from a “hold” rating to a “strong sell” rating in a research note on Thursday, October 30th. Three equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Reduce” and a consensus target price of $28.00.

Ethan Allen Interiors Stock Down 0.7%

The stock has a market capitalization of $572.94 million, a P/E ratio of 12.17 and a beta of 1.18. The firm’s 50-day simple moving average is $27.28 and its 200 day simple moving average is $27.99.

Ethan Allen Interiors (NYSE:ETD) last announced its quarterly earnings data on Wednesday, October 29th. The company reported $0.43 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by ($0.01). The business had revenue of $146.98 million during the quarter, compared to analyst estimates of $149.15 million. Ethan Allen Interiors had a return on equity of 10.06% and a net margin of 7.79%.The business’s revenue for the quarter was down 4.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.58 EPS. As a group, equities analysts anticipate that Ethan Allen Interiors Inc. will post 2.32 EPS for the current fiscal year.

Ethan Allen Interiors Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 26th. Stockholders of record on Wednesday, November 12th will be paid a dividend of $0.39 per share. The ex-dividend date of this dividend is Wednesday, November 12th. This represents a $1.56 annualized dividend and a dividend yield of 6.9%. Ethan Allen Interiors’s dividend payout ratio (DPR) is currently 84.32%.

Insider Activity

In other news, CEO M Farooq Kathwari sold 15,000 shares of the company’s stock in a transaction on Wednesday, October 15th. The stock was sold at an average price of $28.01, for a total transaction of $420,150.00. Following the completion of the sale, the chief executive officer directly owned 1,583,652 shares of the company’s stock, valued at $44,358,092.52. This represents a 0.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders sold 31,400 shares of company stock worth $900,866 over the last quarter. 9.92% of the stock is owned by insiders.

Hedge Funds Weigh In On Ethan Allen Interiors

Hedge funds have recently added to or reduced their stakes in the company. Principal Financial Group Inc. raised its holdings in Ethan Allen Interiors by 2.7% during the first quarter. Principal Financial Group Inc. now owns 112,715 shares of the company’s stock valued at $3,122,000 after buying an additional 2,960 shares in the last quarter. New York State Common Retirement Fund grew its holdings in shares of Ethan Allen Interiors by 56.9% during the 1st quarter. New York State Common Retirement Fund now owns 30,593 shares of the company’s stock worth $847,000 after purchasing an additional 11,100 shares in the last quarter. Jackson Creek Investment Advisors LLC bought a new stake in Ethan Allen Interiors in the 1st quarter valued at $1,479,000. Denali Advisors LLC increased its stake in Ethan Allen Interiors by 131.3% in the first quarter. Denali Advisors LLC now owns 83,040 shares of the company’s stock valued at $2,300,000 after acquiring an additional 47,140 shares during the period. Finally, IFP Advisors Inc boosted its stake in Ethan Allen Interiors by 12,857.1% in the 1st quarter. IFP Advisors Inc now owns 907 shares of the company’s stock valued at $25,000 after buying an additional 900 shares in the last quarter. Institutional investors and hedge funds own 83.80% of the company’s stock.

Ethan Allen Interiors Company Profile

Ethan Allen Interiors Inc operates as an interior design company, and manufacturer and retailer of home furnishings in the United States, Mexico, Honduras, and Canada. The company operates in two segments, Wholesale and Retail. Its products include case goods items, such as beds, dressers, armoires, tables, chairs, buffets, entertainment units, home office furniture, and wooden accents; upholstery comprising fabric-covered items, such as sleepers, recliners and other motion furniture, chairs, ottomans, custom pillows, sofas, loveseats, cut fabrics, and leather; and home accent items consisting of window treatments and drapery hardware, wall decors, florals, lighting, clocks, mattresses, bedspreads, throws, pillows, decorative accents, area rugs, wall coverings, and home and garden furnishings.