Zacks Investment Research Downgrades Ethan Allen Interiors (NYSE:ETH) to Sell

Ethan Allen Interiors (NYSE:ETH) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Monday, Zacks.com reports.

According to Zacks, “Ethan Allen Interiors Inc. is a leading interior design company and manufacturer and retailer of quality home furnishings. The Company offers free interior design service to its clients and sells a full range of furniture products and decorative accessories through ethanallen.com and a network of the Design Centers in the United States and abroad. Ethan Allen owns and operates eight manufacturing facilities including six manufacturing facilities in the United States plus a plant in Mexico and one in Honduras. “

ETH stock traded up $0.30 during midday trading on Monday, reaching $19.27. The stock had a trading volume of 225,716 shares, compared to its average volume of 270,960. The company’s fifty day simple moving average is $18.57 and its 200 day simple moving average is $19.87. The company has a market cap of $509.14 million, a price-to-earnings ratio of 12.35 and a beta of 0.98. Ethan Allen Interiors has a 52-week low of $16.63 and a 52-week high of $23.11.

Ethan Allen Interiors (NYSE:ETH) last announced its quarterly earnings data on Wednesday, July 31st. The company reported $0.46 earnings per share for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.04). The firm had revenue of $183.90 million during the quarter, compared to analysts’ expectations of $200.20 million. Ethan Allen Interiors had a net margin of 3.44% and a return on equity of 11.13%. The company’s revenue for the quarter was down 10.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.43 EPS. On average, analysts predict that Ethan Allen Interiors will post 1.57 EPS for the current fiscal year.

In other Ethan Allen Interiors news, SVP Daniel M. Grow sold 1,500 shares of the firm’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $19.24, for a total value of $28,860.00. Following the transaction, the senior vice president now owns 4,214 shares in the company, valued at approximately $81,077.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 10.40% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of ETH. First Trust Advisors LP raised its holdings in shares of Ethan Allen Interiors by 42.8% during the 1st quarter. First Trust Advisors LP now owns 65,172 shares of the company’s stock worth $1,247,000 after acquiring an additional 19,541 shares during the period. Amundi Pioneer Asset Management Inc. raised its holdings in shares of Ethan Allen Interiors by 11.2% during the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 225,342 shares of the company’s stock worth $4,311,000 after acquiring an additional 22,706 shares during the period. Campbell & CO Investment Adviser LLC purchased a new position in shares of Ethan Allen Interiors during the 2nd quarter worth $329,000. Unison Advisors LLC raised its holdings in shares of Ethan Allen Interiors by 6.2% during the 2nd quarter. Unison Advisors LLC now owns 13,261 shares of the company’s stock worth $280,000 after acquiring an additional 776 shares during the period. Finally, North Star Investment Management Corp. raised its holdings in shares of Ethan Allen Interiors by 0.6% during the 2nd quarter. North Star Investment Management Corp. now owns 94,675 shares of the company’s stock worth $1,994,000 after acquiring an additional 550 shares during the period. Institutional investors and hedge funds own 92.00% of the company’s stock.

About Ethan Allen Interiors

Ethan Allen Interiors Inc operates as an interior design company, and manufacturer and retailer of home furnishings in North America, Asia, the Middle East, and Europe. The company operates through 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 items comprising sleepers, recliners and other motion furniture, chairs, ottomans, custom pillows, sofas, loveseats, cut fabrics, and leather; and home accents and other 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.

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