Ethan Allen Interiors (NYSE:ETD) Stock Moved Up to Hold by Zacks Research

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

ETD has been the topic of several other reports. Weiss Ratings downgraded shares of Ethan Allen Interiors from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, October 9th. Telsey Advisory Group decreased their price target on shares of Ethan Allen Interiors from $24.00 to $22.00 and set a “market perform” rating for the company in a research report on Thursday, July 30th. Two analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and an average price target of $22.00.

Ethan Allen Interiors Stock Up 1.9%

ETD opened at $20.15 on Monday. Ethan Allen Interiors has a 52 week low of $18.28 and a 52 week high of $28.21. The business has a fifty day simple moving average of $21.82 and a 200-day simple moving average of $21.75. The firm has a market cap of $507.73 million, a P/E ratio of 12.92 and a beta of 1.04.

Ethan Allen Interiors (NYSE:ETD) last released its earnings results on Wednesday, July 29th. The company reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.34 by $0.02. Ethan Allen Interiors had a return on equity of 7.88% and a net margin of 6.88%. The company had revenue of $146.75 million during the quarter, compared to the consensus estimate of $148.70 million. During the same period in the previous year, the company posted $0.49 EPS. Ethan Allen Interiors’s revenue was down 8.5% compared to the same quarter last year. Sell-side analysts expect that Ethan Allen Interiors will post 1.30 earnings per share for the current year.

Ethan Allen Interiors Announces Dividend

The company also recently declared a special dividend, which was paid on Thursday, September 17th. Investors of record on Thursday, September 3rd were paid a $3.00 dividend. The ex-dividend date was Thursday, September 3rd. Ethan Allen Interiors’s payout ratio is currently 100.00%.

Insider Buying and Selling

In other Ethan Allen Interiors news, CEO M Kathwari sold 22,811 shares of the business’s stock in a transaction that occurred on Wednesday, September 2nd. The shares were sold at an average price of $25.04, for a total transaction of $571,187.44. Following the completion of the transaction, the chief executive officer owned 1,465,530 shares in the company, valued at $36,696,871.20. The trade was a 1.53% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 9.92% of the stock is owned by company insiders.

Institutional Investors Weigh In On Ethan Allen Interiors

A number of large investors have recently modified their holdings of ETD. BlackRock Inc. acquired a new position in shares of Ethan Allen Interiors in the 2nd quarter valued at $54,163,000. Bank of New York Mellon Corp purchased a new stake in Ethan Allen Interiors in the 2nd quarter valued at $7,512,000. Renaissance Technologies LLC boosted its stake in Ethan Allen Interiors by 11.5% during the 1st quarter. Renaissance Technologies LLC now owns 261,177 shares of the company’s stock worth $5,814,000 after purchasing an additional 26,976 shares during the period. Bank of America Corp DE acquired a new stake in Ethan Allen Interiors during the 2nd quarter worth $5,445,000. Finally, Hodges Capital Management Inc. boosted its stake in Ethan Allen Interiors by 24.2% during the 1st quarter. Hodges Capital Management Inc. now owns 211,909 shares of the company’s stock worth $4,717,000 after purchasing an additional 41,226 shares during the period. 83.80% of the stock is owned by hedge funds and other institutional investors.

Ethan Allen Interiors Company Profile

Ethan Allen Interiors Inc is an American furniture and home furnishings company that designs, manufactures, markets and sells products for residential interiors. Its offerings include living room, bedroom, dining room and home office furniture, along with case goods, upholstery, lighting, rugs, window treatments, wall decor and other accessories.

The company operates through a vertically integrated business model that combines product design, manufacturing, retailing and interior design services.