Ethan Allen Interiors (ETH) Lifted to Buy at Zacks Investment Research
Zacks Investment Research upgraded shares of Ethan Allen Interiors (NYSE:ETH) from a hold rating to a buy rating in a research note released on Friday. The firm currently has $30.00 price target on the stock.
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 approximately 300 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. Approximately seventy percent of its products are made in its North American plants. “
ETH has been the topic of several other research reports. TheStreet lowered Ethan Allen Interiors from a b rating to a c+ rating in a report on Friday, October 27th. Stifel Nicolaus increased their target price on Ethan Allen Interiors from $27.00 to $30.00 and gave the stock a hold rating in a research note on Thursday, October 26th. KeyCorp reiterated a hold rating on shares of Ethan Allen Interiors in a research note on Tuesday, October 17th. Telsey Advisory Group reiterated a market perform rating and issued a $27.00 target price (down previously from $33.00) on shares of Ethan Allen Interiors in a research note on Wednesday, January 17th. Finally, Dougherty & Co upgraded Ethan Allen Interiors from a neutral rating to a buy rating and set a $35.00 target price on the stock in a research note on Friday, October 13th. Four research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of Buy and an average price target of $31.60.
Ethan Allen Interiors (NYSE:ETH) last released its quarterly earnings results on Wednesday, October 25th. The company reported $0.28 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.28. Ethan Allen Interiors had a return on equity of 9.11% and a net margin of 4.27%. The company had revenue of $181.30 million for the quarter, compared to analyst estimates of $181.30 million. During the same quarter in the prior year, the firm posted $0.41 EPS. Ethan Allen Interiors’s quarterly revenue was down 6.2% compared to the same quarter last year. analysts forecast that Ethan Allen Interiors will post 1.69 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 24th. Shareholders of record on Wednesday, January 10th will be paid a $0.19 dividend. The ex-dividend date of this dividend is Tuesday, January 9th. This represents a $0.76 dividend on an annualized basis and a yield of 2.78%. Ethan Allen Interiors’s payout ratio is 66.09%.
A number of hedge funds have recently added to or reduced their stakes in the business. The Manufacturers Life Insurance Company increased its stake in Ethan Allen Interiors by 1.2% in the second quarter. The Manufacturers Life Insurance Company now owns 19,407 shares of the company’s stock worth $627,000 after purchasing an additional 225 shares during the period. Thrivent Financial For Lutherans grew its position in shares of Ethan Allen Interiors by 5.9% during the 2nd quarter. Thrivent Financial For Lutherans now owns 15,340 shares of the company’s stock worth $495,000 after buying an additional 860 shares in the last quarter. TIAA CREF Investment Management LLC grew its position in shares of Ethan Allen Interiors by 1.5% during the 2nd quarter. TIAA CREF Investment Management LLC now owns 87,672 shares of the company’s stock worth $2,832,000 after buying an additional 1,264 shares in the last quarter. Voya Investment Management LLC grew its position in shares of Ethan Allen Interiors by 8.4% during the 2nd quarter. Voya Investment Management LLC now owns 20,074 shares of the company’s stock worth $648,000 after buying an additional 1,550 shares in the last quarter. Finally, Ameriprise Financial Inc. grew its position in shares of Ethan Allen Interiors by 0.5% during the 2nd quarter. Ameriprise Financial Inc. now owns 327,865 shares of the company’s stock worth $10,592,000 after buying an additional 1,663 shares in the last quarter. Institutional investors and hedge funds own 99.41% of the company’s stock.
About Ethan Allen Interiors
Ethan Allen Interiors Inc is an interior design company. The Company is a manufacturer and retailer of home furnishings. The Company operates through two segments, which include wholesale and retail. The Company is an international home fashion brand doing business in North America, Europe, Asia and the Middle East.
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