Ethan Allen Interiors (NYSE:ETD) Shares Gap Down on Disappointing Earnings

Ethan Allen Interiors Inc. (NYSE:ETD) shares gapped down prior to trading on Tuesday after the company announced weaker than expected quarterly earnings. The stock had previously closed at $29.13, but opened at $27.12. Ethan Allen Interiors shares last traded at $26.59, with a volume of 143,883 shares traded.

The company reported $0.38 earnings per share for the quarter, missing the consensus estimate of $0.45 by ($0.07). Ethan Allen Interiors had a return on equity of 12.62% and a net margin of 9.76%. The firm had revenue of $142.70 million for the quarter, compared to the consensus estimate of $146.85 million. During the same period in the previous year, the business earned $0.48 EPS. The firm’s revenue was down 2.5% compared to the same quarter last year.

Analyst Upgrades and Downgrades

Several analysts recently commented on ETD shares. Telsey Advisory Group reaffirmed a “market perform” rating and set a $32.00 price objective on shares of Ethan Allen Interiors in a research note on Thursday, May 1st. Argus reaffirmed a “hold” rating on shares of Ethan Allen Interiors in a research report on Monday, January 13th.

Insider Buying and Selling at Ethan Allen Interiors

In other news, CEO M Farooq Kathwari sold 10,000 shares of the business’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $29.27, for a total value of $292,700.00. Following the sale, the chief executive officer now directly owns 1,641,905 shares in the company, valued at $48,058,559.35. The trade was a 0.61 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Over the last quarter, insiders have sold 30,000 shares of company stock valued at $822,800. 10.48% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Ethan Allen Interiors

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Barclays PLC grew its stake in shares of Ethan Allen Interiors by 113.8% during the 3rd quarter. Barclays PLC now owns 57,174 shares of the company’s stock worth $1,824,000 after acquiring an additional 30,437 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in Ethan Allen Interiors by 4.4% during the third quarter. JPMorgan Chase & Co. now owns 53,238 shares of the company’s stock worth $1,698,000 after purchasing an additional 2,267 shares during the last quarter. Assenagon Asset Management S.A. grew its position in Ethan Allen Interiors by 6.0% in the fourth quarter. Assenagon Asset Management S.A. now owns 75,792 shares of the company’s stock valued at $2,131,000 after purchasing an additional 4,267 shares in the last quarter. Wedge Capital Management L L P NC increased its stake in Ethan Allen Interiors by 17.0% in the 4th quarter. Wedge Capital Management L L P NC now owns 36,609 shares of the company’s stock valued at $1,029,000 after buying an additional 5,321 shares during the last quarter. Finally, Inspire Investing LLC lifted its position in Ethan Allen Interiors by 10.5% during the 4th quarter. Inspire Investing LLC now owns 14,235 shares of the company’s stock worth $400,000 after buying an additional 1,348 shares in the last quarter. Institutional investors and hedge funds own 83.80% of the company’s stock.

Ethan Allen Interiors Trading Down 9.1 %

The company has a market capitalization of $673.69 million, a price-to-earnings ratio of 11.08 and a beta of 1.20. The stock’s 50 day moving average price is $27.41 and its 200 day moving average price is $28.57.

Ethan Allen Interiors Company Profile

Ethan Allen Interiors Inc operates as an interior design company, and manufacturer and retailer of home furnishings in the United States, Mexico, Honduras, and Canada. The company operates in two segments, Wholesale and Retail. Its products include case goods items, such as beds, dressers, armoires, tables, chairs, buffets, entertainment units, home office furniture, and wooden accents; upholstery comprising fabric-covered items, such as sleepers, recliners and other motion furniture, chairs, ottomans, custom pillows, sofas, loveseats, cut fabrics, and leather; and home accent items consisting of window treatments and drapery hardware, wall decors, florals, lighting, clocks, mattresses, bedspreads, throws, pillows, decorative accents, area rugs, wall coverings, and home and garden furnishings.