Ethan Allen Interiors Inc. (NYSE:ETD) Sees Significant Increase in Short Interest

Ethan Allen Interiors Inc. (NYSE:ETD) was the recipient of a significant increase in short interest in the month of December. As of December 31st, there was short interest totaling 1,352,647 shares, an increase of 31.0% from the December 15th total of 1,032,171 shares. Approximately 5.9% of the shares of the stock are short sold. Based on an average daily volume of 295,400 shares, the short-interest ratio is presently 4.6 days. Based on an average daily volume of 295,400 shares, the short-interest ratio is presently 4.6 days. Approximately 5.9% of the shares of the stock are short sold.

Institutional Investors Weigh In On Ethan Allen Interiors

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

Analysts Set New Price Targets

ETD has been the topic of several recent analyst reports. Zacks Research raised Ethan Allen Interiors from a “strong sell” rating to a “hold” rating in a research note on Monday, December 29th. Telsey Advisory Group lowered their target price on shares of Ethan Allen Interiors from $30.00 to $28.00 and set a “market perform” rating on the stock in a report on Thursday, October 30th. Finally, Weiss Ratings downgraded shares of Ethan Allen Interiors from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, December 29th. Two investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Ethan Allen Interiors currently has an average rating of “Reduce” and a consensus price target of $28.00.

Ethan Allen Interiors Price Performance

Shares of ETD stock traded down $0.18 during trading hours on Friday, reaching $24.66. 244,895 shares of the company were exchanged, compared to its average volume of 270,693. Ethan Allen Interiors has a fifty-two week low of $21.67 and a fifty-two week high of $32.61. The stock’s fifty day moving average is $23.55 and its two-hundred day moving average is $26.91. The company has a market cap of $627.47 million, a price-to-earnings ratio of 13.33 and a beta of 1.16.

Ethan Allen Interiors (NYSE:ETD) last posted 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 firm had revenue of $146.98 million for the quarter, compared to analyst estimates of $149.15 million. Ethan Allen Interiors had a return on equity of 10.08% and a net margin of 7.79%.The firm’s quarterly revenue was down 4.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.58 EPS. On average, research analysts anticipate that Ethan Allen Interiors will post 2.32 earnings per share for the current year.

Ethan Allen Interiors Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 26th. Shareholders of record on Wednesday, November 12th were issued a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 6.3%. The ex-dividend date of this dividend was Wednesday, November 12th. Ethan Allen Interiors’s payout ratio is currently 84.32%.

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.