Ethan Allen Interiors (NYSE:ETD) Stock Rating Raised to “Hold” at Zacks Research

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

Several other research analysts have also weighed in on ETD. Telsey Advisory Group dropped their price target on Ethan Allen Interiors from $24.00 to $22.00 and set a “market perform” rating on the stock in a research report on Thursday, July 30th. Weiss Ratings lowered Ethan Allen Interiors from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, October 9th. 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.com, Ethan Allen Interiors currently has an average rating of “Reduce” and an average target price of $22.00.

Ethan Allen Interiors Stock Up 1.9%

ETD opened at $20.15 on Monday. The stock has a fifty day moving average of $21.82 and a 200-day moving average of $21.75. The firm has a market capitalization of $507.73 million, a P/E ratio of 13.45 and a beta of 1.04. Ethan Allen Interiors has a 12-month low of $18.28 and a 12-month high of $28.21.

Ethan Allen Interiors (NYSE:ETD) last issued its earnings results on Wednesday, July 29th. The company reported $0.36 EPS for the quarter, topping 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 business had revenue of $146.75 million during the quarter, compared to analysts’ expectations of $148.70 million. During the same quarter last year, the firm posted $0.49 earnings per share. Ethan Allen Interiors’s revenue was down 8.5% compared to the same quarter last year. On average, analysts expect that Ethan Allen Interiors will post 1.30 earnings per share for the current fiscal year.

Insider Activity at Ethan Allen Interiors

In other news, CEO M Kathwari sold 22,811 shares of the company’s stock in a transaction on Wednesday, September 2nd. The shares were sold at an average price of $25.04, for a total value of $571,187.44. Following the transaction, the chief executive officer directly owned 1,465,530 shares of the company’s stock, valued at approximately $36,696,871.20. This represents a 1.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 9.92% of the stock is currently owned by corporate insiders.

Institutional Trading of Ethan Allen Interiors

Several hedge funds and other institutional investors have recently modified their holdings of ETD. Nisa Investment Advisors LLC boosted its position in Ethan Allen Interiors by 154.2% during the third quarter. Nisa Investment Advisors LLC now owns 7,775 shares of the company’s stock valued at $163,000 after purchasing an additional 4,716 shares during the last quarter. SteelPeak Wealth LLC purchased a new position in Ethan Allen Interiors in the third quarter valued at about $236,000. SummerHaven Investment Management LLC grew its stake in Ethan Allen Interiors by 21.8% in the third quarter. SummerHaven Investment Management LLC now owns 28,451 shares of the company’s stock valued at $595,000 after purchasing an additional 5,087 shares in the last quarter. Viking Fund Management LLC acquired a new position in Ethan Allen Interiors in the 3rd quarter worth about $523,000. Finally, Fortitude Family Office LLC acquired a new position in Ethan Allen Interiors in the 3rd quarter worth about $129,000. 83.80% of the stock is currently 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.