Ethan Allen Interiors (NYSE:ETD) Upgraded to “Hold” at Zacks Research

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

Other research analysts have also recently issued research reports about the stock. Telsey Advisory Group decreased their target price on shares of Ethan Allen Interiors from $30.00 to $28.00 and set a “market perform” rating for the company in a research report on Thursday, October 30th. Weiss Ratings lowered Ethan Allen Interiors from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday. Three analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Ethan Allen Interiors has a consensus rating of “Reduce” and a consensus target price of $28.00.

Ethan Allen Interiors Price Performance

Shares of ETD stock opened at $22.80 on Monday. The company’s fifty day moving average price is $24.05 and its two-hundred day moving average price is $27.26. The firm has a market capitalization of $580.18 million, a P/E ratio of 12.32 and a beta of 1.17. Ethan Allen Interiors has a 12 month low of $21.67 and a 12 month high of $32.61.

Ethan Allen Interiors (NYSE:ETD) last issued its earnings results on Wednesday, October 29th. The company reported $0.43 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.01). The company had revenue of $146.98 million during the quarter, compared to analyst estimates of $149.15 million. Ethan Allen Interiors had a net margin of 7.79% and a return on equity of 10.08%. The business’s revenue for the quarter was down 4.8% compared to the same quarter last year. During the same quarter last year, the company posted $0.58 EPS. On average, sell-side analysts anticipate that Ethan Allen Interiors will post 2.32 EPS for the current year.

Insider Activity at Ethan Allen Interiors

In related news, CEO M Farooq Kathwari sold 15,000 shares of Ethan Allen Interiors stock in a transaction on Wednesday, October 15th. The stock was sold at an average price of $28.01, for a total value of $420,150.00. Following the transaction, the chief executive officer directly owned 1,583,652 shares in the company, valued at $44,358,092.52. The trade was a 0.94% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 9.92% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in shares of Ethan Allen Interiors by 1.9% during the third quarter. Vanguard Group Inc. now owns 1,760,093 shares of the company’s stock valued at $51,852,000 after buying an additional 32,751 shares in the last quarter. American Century Companies Inc. boosted its position in Ethan Allen Interiors by 4.4% during the 3rd quarter. American Century Companies Inc. now owns 874,727 shares of the company’s stock worth $25,769,000 after acquiring an additional 36,756 shares during the period. Geode Capital Management LLC grew its stake in Ethan Allen Interiors by 1.2% during the 2nd quarter. Geode Capital Management LLC now owns 548,021 shares of the company’s stock valued at $15,263,000 after acquiring an additional 6,729 shares in the last quarter. Bank of New York Mellon Corp grew its stake in Ethan Allen Interiors by 2.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 416,033 shares of the company’s stock valued at $11,587,000 after acquiring an additional 8,311 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. increased its holdings in shares of Ethan Allen Interiors by 42.6% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 391,769 shares of the company’s stock valued at $11,542,000 after purchasing an additional 117,047 shares during the period. 83.80% of the stock is currently owned by institutional investors and hedge funds.

About Ethan Allen Interiors

Ethan Allen Interiors Inc (NYSE: ETD) is a vertically integrated manufacturer and retailer of home furnishings, offering a broad range of furniture, upholstery, case goods and decorative accessories. The company designs and produces the majority of its products in its own North American manufacturing facilities, maintaining close control over quality, craftsmanship and production schedules. Through its network of company-operated and franchised Design Centers and galleries, Ethan Allen delivers a full-service offering that includes on-site interior design consultations and project management.

Founded in 1932 as a small Colonial-Revival furniture maker in northern Vermont, Ethan Allen has grown into a global brand known for its timeless styles and customization options.