Ethan Allen Interiors (NYSE:ETD) Shares Gap Down – Time to Sell?

Ethan Allen Interiors Inc. (NYSE:ETD)’s stock price gapped down before the market opened on Wednesday . The stock had previously closed at $23.67, but opened at $22.91. Ethan Allen Interiors shares last traded at $22.40, with a volume of 69,549 shares changing hands.

Analyst Upgrades and Downgrades

ETD has been the topic of a number of recent analyst reports. Telsey Advisory Group dropped their price target on shares of 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 reaffirmed a “sell (d+)” rating on shares of Ethan Allen Interiors in a research note on Friday, July 31st. Finally, Zacks Research cut shares of Ethan Allen Interiors from a “hold” rating to a “strong sell” rating in a research report on Thursday, July 30th. One research analyst has rated the stock with a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Sell” and an average target price of $22.00.

Ethan Allen Interiors Stock Performance

The business has a 50 day moving average price of $22.32 and a 200-day moving average price of $22.15. The company has a market capitalization of $582.42 million, a price-to-earnings ratio of 14.67 and a beta of 1.02.

Ethan Allen Interiors (NYSE:ETD) last released 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. The firm’s revenue was down 8.5% on a year-over-year basis. As a group, equities analysts predict that Ethan Allen Interiors Inc. will post 1.35 EPS for the current fiscal year.

Ethan Allen Interiors Dividend Announcement

The business also recently disclosed a special dividend, which will be paid on Wednesday, August 26th. Stockholders of record on Wednesday, August 12th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Wednesday, August 12th. Ethan Allen Interiors’s dividend payout ratio (DPR) is 100.00%.

Institutional Trading of Ethan Allen Interiors

Several hedge funds have recently modified their holdings of ETD. Empowered Funds LLC acquired a new stake in shares of Ethan Allen Interiors in the 1st quarter valued at about $1,958,000. Teacher Retirement System of Texas raised its stake in Ethan Allen Interiors by 34.9% during the 4th quarter. Teacher Retirement System of Texas now owns 311,066 shares of the company’s stock worth $7,105,000 after buying an additional 80,529 shares during the period. Fifth Third Bancorp raised its stake in Ethan Allen Interiors by 2,144.5% during the 1st quarter. Fifth Third Bancorp now owns 40,042 shares of the company’s stock worth $891,000 after buying an additional 38,258 shares during the period. Sei Investments Co. acquired a new position in Ethan Allen Interiors during the 1st quarter worth approximately $938,000. Finally, Janney Montgomery Scott LLC boosted its holdings in Ethan Allen Interiors by 52.2% in the first quarter. Janney Montgomery Scott LLC now owns 87,384 shares of the company’s stock worth $1,945,000 after acquiring an additional 29,958 shares in 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.