Ethan Allen Interiors (NYSE:ETD) Shares Gap Down – Here’s Why

Ethan Allen Interiors Inc. (NYSE:ETD) shares gapped down prior to trading 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.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. Telsey Advisory Group lowered their price objective on Ethan Allen Interiors from $24.00 to $22.00 and set a “market perform” rating on the stock in a research note on Thursday, July 30th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Ethan Allen Interiors in a research report 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 note on Thursday, July 30th. One investment analyst has rated the stock with a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Sell” and an average price target of $22.00.

Ethan Allen Interiors Stock Performance

The business has a 50 day moving average of $22.24 and a 200-day moving average of $22.18. The company has a market capitalization of $571.52 million, a P/E ratio of 14.40 and a beta of 1.02.

Ethan Allen Interiors (NYSE:ETD) last posted its earnings results on Wednesday, July 29th. The company reported $0.36 earnings per share for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $148.70 million. During the same quarter in the previous year, the firm earned $0.49 EPS. The company’s quarterly revenue was down 8.5% compared to the same quarter last year. As a group, equities analysts forecast that Ethan Allen Interiors Inc. will post 1.35 EPS for the current fiscal year.

Ethan Allen Interiors Dividend Announcement

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

Hedge Funds Weigh In On Ethan Allen Interiors

A number of institutional investors have recently made changes to their positions in the stock. Allworth Financial LP purchased a new stake in shares of Ethan Allen Interiors during the 2nd quarter valued at $30,000. Tower Research Capital LLC TRC raised its position in 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 valued at $85,000 after purchasing an additional 2,398 shares in the last quarter. PNC Financial Services Group Inc. lifted its stake in Ethan Allen Interiors by 132.1% during the first quarter. PNC Financial Services Group Inc. now owns 3,899 shares of the company’s stock worth $87,000 after purchasing an additional 2,219 shares during the last quarter. Annis Gardner Whiting Capital Advisors LLC purchased a new position in shares of Ethan Allen Interiors in the 1st quarter worth about $88,000. Finally, Dunhill Financial LLC bought a new position in shares of Ethan Allen Interiors during the 2nd quarter valued at about $92,000. 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.