Ethan Allen Interiors (NYSE:ETD) Upgraded by Zacks Research to Hold Rating

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

A number of other research analysts also recently weighed in on the stock. Telsey Advisory Group lowered their price objective on shares of Ethan Allen Interiors from $27.00 to $24.00 and set a “market perform” rating on the stock in a research report on Thursday, April 30th. Weiss Ratings lowered shares of Ethan Allen Interiors from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, May 4th. Finally, Wall Street Zen raised Ethan Allen Interiors from a “sell” rating to a “hold” rating in a report on Sunday, March 1st. Two equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Ethan Allen Interiors has an average rating of “Reduce” and a consensus price target of $24.00.

Ethan Allen Interiors Stock Performance

Shares of NYSE:ETD opened at $22.36 on Monday. Ethan Allen Interiors has a fifty-two week low of $18.28 and a fifty-two week high of $31.41. The business has a 50-day simple moving average of $20.99 and a two-hundred day simple moving average of $22.41. The firm 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 (NYSE:ETD) last announced its quarterly earnings results on Wednesday, April 29th. The company reported $0.24 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $135.84 million for the quarter, compared to the consensus estimate of $134.85 million. During the same quarter last year, the firm posted $0.38 EPS. The business’s quarterly revenue was down 4.8% compared to the same quarter last year. As a group, research analysts predict that Ethan Allen Interiors will post 1.48 earnings per share for the current year.

Institutional Investors Weigh In On Ethan Allen Interiors

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Tudor Investment Corp ET AL lifted its holdings in shares of Ethan Allen Interiors by 117.1% in the third quarter. Tudor Investment Corp ET AL now owns 90,018 shares of the company’s stock worth $2,652,000 after buying an additional 48,557 shares in the last quarter. JPMorgan Chase & Co. grew its stake in Ethan Allen Interiors by 260.1% during the third quarter. JPMorgan Chase & Co. now owns 191,688 shares of the company’s stock valued at $5,647,000 after acquiring an additional 138,452 shares in the last quarter. American Century Companies Inc. grew its stake 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 acquiring an additional 36,756 shares in the last quarter. Teacher Retirement System of Texas increased its holdings in Ethan Allen Interiors by 34.9% in the 4th quarter. Teacher Retirement System of Texas now owns 311,066 shares of the company’s stock valued at $7,105,000 after acquiring an additional 80,529 shares during the last quarter. Finally, First Eagle Investment Management LLC increased its holdings in Ethan Allen Interiors by 11.6% in the 3rd quarter. First Eagle Investment Management LLC now owns 247,461 shares of the company’s stock valued at $7,290,000 after acquiring an additional 25,800 shares during the last quarter. Institutional investors own 83.80% of the company’s stock.

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.