Ethan Allen Interiors (NYSE:ETD) Downgraded to Strong Sell Rating by Zacks Research

Zacks Research downgraded shares of Ethan Allen Interiors (NYSE:ETD) from a hold rating to a strong sell rating in a research note published on Thursday morning,Zacks.com reports.

Several other research analysts have also weighed in on ETD. Telsey Advisory Group cut their price objective on shares of Ethan Allen Interiors from $24.00 to $22.00 and set a “market perform” rating on the stock in a report on Thursday. Weiss Ratings downgraded shares of Ethan Allen Interiors from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, May 4th. One equities research analyst has rated the stock with a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Sell” and a consensus price target of $22.00.

Ethan Allen Interiors Stock Down 2.2%

Shares of NYSE:ETD opened at $22.40 on Thursday. The company has a market cap of $570.03 million, a P/E ratio of 14.36 and a beta of 1.01. Ethan Allen Interiors has a 52 week low of $18.28 and a 52 week high of $31.41. The business has a fifty day simple moving average of $21.78 and a 200-day simple moving average of $22.23.

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, 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 firm had revenue of $146.75 million for the quarter, compared to the consensus estimate of $148.70 million. During the same period in the prior year, the business posted $0.49 earnings per share. The firm’s revenue for the quarter was down 8.5% compared to the same quarter last year. Sell-side analysts expect that Ethan Allen Interiors will post 1.35 earnings per share for the current fiscal year.

Ethan Allen Interiors Announces Dividend

The firm also recently declared a special dividend, which will be paid on Wednesday, August 26th. Shareholders 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 payout ratio is 100.00%.

Institutional Investors Weigh In On Ethan Allen Interiors

Several large investors have recently made changes to their positions in the business. Tower Research Capital LLC TRC lifted its position in shares of Ethan Allen Interiors by 365.5% during 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 in the last quarter. PNC Financial Services Group Inc. boosted its position in Ethan Allen Interiors by 132.1% in the 1st quarter. PNC Financial Services Group Inc. now owns 3,899 shares of the company’s stock valued at $87,000 after buying an additional 2,219 shares during the last quarter. Annis Gardner Whiting Capital Advisors LLC purchased a new position in Ethan Allen Interiors in the 1st quarter valued at about $88,000. Nisa Investment Advisors LLC grew its stake in shares of Ethan Allen Interiors by 76.3% during the fourth quarter. Nisa Investment Advisors LLC now owns 5,240 shares of the company’s stock valued at $120,000 after acquiring an additional 2,267 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Ethan Allen Interiors by 38.1% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,677 shares of the company’s stock worth $130,000 after acquiring an additional 1,565 shares during the last quarter. Institutional investors and hedge funds own 83.80% of the company’s stock.

Ethan Allen Interiors Company Profile

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.