Zacks Research Upgrades Ethan Allen Interiors (NYSE:ETD) to “Hold”

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

Several other equities research analysts have also recently weighed in on ETD. Weiss Ratings cut shares of Ethan Allen Interiors from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, May 4th. Telsey Advisory Group lowered their price objective on shares of Ethan Allen Interiors from $27.00 to $24.00 and set a “market perform” rating for the company in a research report on Thursday, April 30th. Finally, Wall Street Zen upgraded shares of Ethan Allen Interiors from a “sell” rating to a “hold” rating in a research report on Sunday, March 1st. Two research analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Ethan Allen Interiors currently has an average rating of “Reduce” and an average target price of $24.00.

Ethan Allen Interiors Price Performance

NYSE ETD opened at $22.36 on Monday. The stock has a market capitalization of $569.06 million, a PE ratio of 14.15 and a beta of 1.02. The business has a 50 day simple moving average of $20.99 and a two-hundred day simple moving average of $22.41. Ethan Allen Interiors has a 1-year low of $18.28 and a 1-year high of $31.41.

Ethan Allen Interiors (NYSE:ETD) last issued its quarterly earnings data on Wednesday, April 29th. The company reported $0.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.21 by $0.03. The business had revenue of $135.84 million for the quarter, compared to analysts’ expectations of $134.85 million. Ethan Allen Interiors had a return on equity of 8.54% and a net margin of 6.81%.The company’s revenue for the quarter was down 4.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.38 EPS. On average, analysts anticipate that Ethan Allen Interiors will post 1.48 EPS for the current fiscal year.

Hedge Funds Weigh In On Ethan Allen Interiors

A number of institutional investors and hedge funds have recently modified their holdings of ETD. Balyasny Asset Management L.P. bought a new position in shares of Ethan Allen Interiors during the 2nd quarter valued at approximately $5,845,000. JPMorgan Chase & Co. lifted its position in Ethan Allen Interiors by 260.1% in the third quarter. JPMorgan Chase & Co. now owns 191,688 shares of the company’s stock worth $5,647,000 after buying an additional 138,452 shares during the last quarter. Millennium Management LLC lifted its position in Ethan Allen Interiors by 198.3% in the fourth quarter. Millennium Management LLC now owns 206,945 shares of the company’s stock worth $4,727,000 after buying an additional 137,566 shares during the last quarter. Jacobs Levy Equity Management Inc. boosted its stake in Ethan Allen Interiors by 42.6% during the third quarter. Jacobs Levy Equity Management Inc. now owns 391,769 shares of the company’s stock worth $11,542,000 after buying an additional 117,047 shares during the period. Finally, Jane Street Group LLC boosted its stake in Ethan Allen Interiors by 31.2% during the first quarter. Jane Street Group LLC now owns 371,979 shares of the company’s stock worth $10,304,000 after buying an additional 88,383 shares during the period. Hedge funds and other institutional investors 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.