Ethan Allen Interiors (NYSE:ETD) Downgraded to “Strong Sell” Rating by 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 sent to investors on Tuesday morning,Zacks.com reports.

Several other equities analysts have also issued reports on the company. Weiss Ratings raised Ethan Allen Interiors from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday, February 10th. Telsey Advisory Group dropped their price objective 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. Finally, 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. Two analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Ethan Allen Interiors has an average rating of “Reduce” and an average price target of $27.00.

Ethan Allen Interiors Trading Down 0.6%

Shares of ETD opened at $22.21 on Tuesday. The firm has a 50-day moving average price of $23.47 and a 200 day moving average price of $25.02. The firm has a market capitalization of $565.24 million, a P/E ratio of 12.91 and a beta of 1.19. 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 announced its earnings results on Wednesday, January 28th. The company reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.38 by $0.06. Ethan Allen Interiors had a net margin of 7.35% and a return on equity of 9.28%. The company had revenue of $149.92 million during the quarter, compared to analyst estimates of $152.25 million. During the same quarter last year, the firm posted $0.59 earnings per share. Ethan Allen Interiors’s revenue was down 4.7% compared to the same quarter last year. Equities research analysts predict that Ethan Allen Interiors will post 2.32 earnings per share for the current fiscal year.

Ethan Allen Interiors Dividend Announcement

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

Insider Activity at Ethan Allen Interiors

In other 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 completion of 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 SEC, which can be accessed through this hyperlink. Company insiders own 9.92% of the company’s stock.

Institutional Trading of Ethan Allen Interiors

Institutional investors have recently added to or reduced their stakes in the business. Tower Research Capital LLC TRC boosted its position in Ethan Allen Interiors by 365.5% during the 2nd 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 during the period. CWM LLC increased its position in Ethan Allen Interiors by 391.4% in the third quarter. CWM LLC now owns 4,236 shares of the company’s stock worth $125,000 after buying an additional 3,374 shares during the period. AlphaQuest LLC increased its position in Ethan Allen Interiors by 106.0% in the third quarter. AlphaQuest LLC now owns 4,585 shares of the company’s stock worth $135,000 after buying an additional 2,359 shares during the period. Nisa Investment Advisors LLC lifted its stake in Ethan Allen Interiors by 76.3% in the fourth quarter. Nisa Investment Advisors LLC now owns 5,240 shares of the company’s stock valued at $120,000 after buying an additional 2,267 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Ethan Allen Interiors by 38.1% in the fourth 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 last quarter. Institutional investors 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.