Ethan Allen Interiors (NYSE:ETD) Raised to Hold at Zacks Research

Ethan Allen Interiors (NYSE:ETD) was upgraded by analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research note issued to investors on Monday, Zacks reports.

A number of other research analysts have also issued reports on ETD. Weiss Ratings lowered Ethan Allen Interiors from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, October 9th. Telsey Advisory Group dropped their price target on shares of Ethan Allen Interiors from $24.00 to $22.00 and set a “market perform” rating on the stock in a research report on Thursday, July 30th. Two investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company has an average rating of “Reduce” and an average price target of $22.00.

Ethan Allen Interiors Stock Performance

ETD opened at $20.15 on Monday. Ethan Allen Interiors has a one year low of $18.28 and a one year high of $28.21. The stock’s fifty day moving average is $21.82 and its 200-day moving average is $21.75. The company has a market capitalization of $507.73 million, a PE ratio of 13.45 and a beta of 1.04.

Ethan Allen Interiors (NYSE:ETD) last announced its quarterly earnings data on Wednesday, July 29th. The company reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.34 by $0.02. Ethan Allen Interiors had a return on equity of 7.88% and a net margin of 6.88%. The business had revenue of $146.75 million during the quarter, compared to analyst estimates of $148.70 million. During the same quarter in the prior year, the firm posted $0.49 earnings per share. The company’s revenue was down 8.5% on a year-over-year basis. On average, equities research analysts forecast that Ethan Allen Interiors will post 1.30 EPS for the current fiscal year.

Insider Transactions at Ethan Allen Interiors

In other Ethan Allen Interiors news, CEO M Kathwari sold 22,811 shares of Ethan Allen Interiors stock in a transaction that occurred on Wednesday, September 2nd. The shares were sold at an average price of $25.04, for a total value of $571,187.44. Following the transaction, the chief executive officer owned 1,465,530 shares in the company, valued at approximately $36,696,871.20. The trade was a 1.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 9.92% of the company’s stock.

Institutional Investors Weigh In On Ethan Allen Interiors

A number of institutional investors and hedge funds have recently modified their holdings of the stock. BlackRock Inc. acquired a new stake in Ethan Allen Interiors during the 2nd quarter worth about $54,163,000. Bank of New York Mellon Corp acquired a new position in shares of Ethan Allen Interiors in the second quarter worth about $7,512,000. Renaissance Technologies LLC boosted its holdings in shares of Ethan Allen Interiors by 11.5% in the first quarter. Renaissance Technologies LLC now owns 261,177 shares of the company’s stock worth $5,814,000 after buying an additional 26,976 shares during the period. Bank of America Corp DE acquired a new position in shares of Ethan Allen Interiors in the second quarter worth about $5,445,000. Finally, Hodges Capital Management Inc. increased its position in shares of Ethan Allen Interiors by 24.2% in the first quarter. Hodges Capital Management Inc. now owns 211,909 shares of the company’s stock worth $4,717,000 after acquiring an additional 41,226 shares in the last quarter. Institutional investors and hedge funds own 83.80% of the company’s stock.

About Ethan Allen Interiors

Ethan Allen Interiors Inc is an American furniture and home furnishings company that designs, manufactures, markets and sells products for residential interiors. Its offerings include living room, bedroom, dining room and home office furniture, along with case goods, upholstery, lighting, rugs, window treatments, wall decor and other accessories.

The company operates through a vertically integrated business model that combines product design, manufacturing, retailing and interior design services.