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

Zacks Research upgraded shares of Ethan Allen Interiors (NYSE:ETD) from a strong sell rating to a hold rating in a report issued on Monday,Zacks.com reports.

Other equities research analysts have also issued reports about the company. Telsey Advisory Group cut their price objective on Ethan Allen Interiors from $27.00 to $24.00 and set a “market perform” rating for the company in a research note on Thursday, April 30th. Wall Street Zen upgraded Ethan Allen Interiors from a “sell” rating to a “hold” rating in a research report on Sunday, March 1st. Finally, Weiss Ratings downgraded Ethan Allen Interiors from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, May 4th. Two equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus target price of $24.00.

Ethan Allen Interiors Stock Up 1.1%

ETD opened at $22.36 on Monday. The company has a market cap of $569.06 million, a price-to-earnings ratio of 14.15 and a beta of 1.02. Ethan Allen Interiors has a 52-week low of $18.28 and a 52-week high of $31.41. The firm’s fifty day simple moving average is $20.99 and its two-hundred day simple moving average is $22.41.

Ethan Allen Interiors (NYSE:ETD) last released its earnings results on Wednesday, April 29th. The company reported $0.24 EPS for the quarter, topping analysts’ consensus estimates of $0.21 by $0.03. Ethan Allen Interiors had a net margin of 6.81% and a return on equity of 8.54%. The business had revenue of $135.84 million during the quarter, compared to analysts’ expectations of $134.85 million. During the same quarter in the previous year, the company earned $0.38 earnings per share. The company’s quarterly revenue was down 4.8% on a year-over-year basis. On average, research analysts forecast that Ethan Allen Interiors will post 1.48 EPS for the current year.

Ethan Allen Interiors Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 27th. Investors of record on Wednesday, May 13th were given a dividend of $0.39 per share. The ex-dividend date was Wednesday, May 13th. This represents a $1.56 dividend on an annualized basis and a yield of 7.0%. Ethan Allen Interiors’s dividend payout ratio (DPR) is presently 98.73%.

Institutional Trading of Ethan Allen Interiors

Several large investors have recently added to or reduced their stakes in ETD. Bank of America Corp DE raised its holdings in shares of Ethan Allen Interiors by 46.8% during the 1st quarter. Bank of America Corp DE now owns 151,994 shares of the company’s stock worth $3,383,000 after acquiring an additional 48,427 shares during the period. Empowered Funds LLC acquired a new position in shares of Ethan Allen Interiors during the 1st quarter valued at about $1,958,000. Quantinno Capital Management LP purchased a new stake in shares of Ethan Allen Interiors in the first quarter valued at about $425,000. Renaissance Technologies LLC grew 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 valued at $5,814,000 after purchasing an additional 26,976 shares during the period. Finally, Caxton Associates LLP increased its position in Ethan Allen Interiors by 41.0% during the first quarter. Caxton Associates LLP now owns 15,342 shares of the company’s stock worth $342,000 after purchasing an additional 4,459 shares during the last quarter. 83.80% of the stock is currently owned by hedge funds and other institutional investors.

Ethan Allen Interiors Company Profile

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.