Ethan Allen Interiors (NYSE:ETD) Cut to Strong Sell at Zacks Research

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

Several other research analysts have also issued reports on ETD. Weiss Ratings upgraded shares of Ethan Allen Interiors from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday, February 10th. Wall Street Zen raised shares of Ethan Allen Interiors from a “sell” rating to a “hold” rating in a research note on Sunday, March 1st. Finally, Telsey Advisory Group lowered their target price on shares of Ethan Allen Interiors from $28.00 to $27.00 and set a “market perform” rating for the company in a research note on Thursday, January 29th. Two analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Reduce” and a consensus price target of $27.00.

Ethan Allen Interiors Stock Performance

NYSE ETD opened at $22.21 on Tuesday. The firm has a market capitalization of $565.24 million, a PE ratio of 12.91 and a beta of 1.19. The business’s 50-day moving average price is $23.44 and its two-hundred day moving average price is $25.00. Ethan Allen Interiors has a 12 month low of $21.45 and a 12 month high of $31.41.

Ethan Allen Interiors (NYSE:ETD) last issued its quarterly earnings data on Wednesday, January 28th. The company reported $0.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.38 by $0.06. The company had revenue of $149.92 million during the quarter, compared to the consensus estimate of $152.25 million. Ethan Allen Interiors had a return on equity of 9.28% and a net margin of 7.35%.The firm’s revenue was down 4.7% compared to the same quarter last year. During the same period last year, the company earned $0.59 earnings per share. As a group, analysts forecast that Ethan Allen Interiors will post 2.32 earnings per share for the current fiscal year.

Ethan Allen Interiors Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 25th. Shareholders of record on Wednesday, February 11th were paid a $0.39 dividend. The ex-dividend date of this dividend was Wednesday, February 11th. This represents a $1.56 annualized dividend and a yield of 7.0%. Ethan Allen Interiors’s payout ratio is 90.70%.

Insider Activity

In other Ethan Allen Interiors news, CEO M Farooq Kathwari sold 2,168 shares of the stock in a transaction that occurred on Thursday, January 22nd. The stock was sold at an average price of $25.01, for a total transaction of $54,221.68. Following the transaction, the chief executive officer directly owned 1,483,228 shares in the company, valued at approximately $37,095,532.28. This represents a 0.15% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 9.92% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of ETD. Tower Research Capital LLC TRC grew its holdings in Ethan Allen Interiors by 365.5% in the second quarter. Tower Research Capital LLC TRC now owns 3,054 shares of the company’s stock worth $85,000 after purchasing an additional 2,398 shares during the period. Nisa Investment Advisors LLC boosted its position in shares of Ethan Allen Interiors by 76.3% during the 4th quarter. Nisa Investment Advisors LLC now owns 5,240 shares of the company’s stock worth $120,000 after purchasing an additional 2,267 shares in the last quarter. CWM LLC boosted its position in shares of Ethan Allen Interiors by 391.4% during the 3rd quarter. CWM LLC now owns 4,236 shares of the company’s stock worth $125,000 after purchasing an additional 3,374 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Ethan Allen Interiors by 38.1% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,677 shares of the company’s stock valued at $130,000 after buying an additional 1,565 shares during the period. Finally, AlphaQuest LLC grew its stake in shares of Ethan Allen Interiors by 106.0% in the 3rd quarter. AlphaQuest LLC now owns 4,585 shares of the company’s stock valued at $135,000 after buying an additional 2,359 shares during the period. Institutional investors and hedge funds 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.