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

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

Other research analysts also recently issued research reports about the company. Weiss Ratings downgraded Ethan Allen Interiors from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, May 4th. Telsey Advisory Group dropped their price objective on Ethan Allen Interiors from $24.00 to $22.00 and set a “market perform” rating on the stock in a report on Thursday. One analyst has rated the stock with a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, Ethan Allen Interiors presently has an average rating of “Sell” and an average target price of $22.00.

Ethan Allen Interiors Price Performance

NYSE:ETD opened at $22.40 on Thursday. The firm has a 50-day moving average of $21.78 and a two-hundred day moving average of $22.23. The stock 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 1-year low of $18.28 and a 1-year high of $31.41.

Ethan Allen Interiors (NYSE:ETD) last announced its earnings results on Wednesday, July 29th. The company reported $0.36 earnings per share for the quarter, beating 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 company had revenue of $146.75 million during the quarter, compared to the consensus estimate of $148.70 million. During the same period last year, the firm earned $0.49 earnings per share. The company’s revenue was down 8.5% on a year-over-year basis. As a group, equities analysts expect that Ethan Allen Interiors will post 1.35 earnings per share for the current year.

Hedge Funds Weigh In On Ethan Allen Interiors

Large investors have recently modified their holdings of the stock. Unison Advisors LLC grew its stake in Ethan Allen Interiors by 1.6% in the first quarter. Unison Advisors LLC now owns 32,603 shares of the company’s stock worth $726,000 after purchasing an additional 517 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Ethan Allen Interiors by 4.1% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,544 shares of the company’s stock valued at $375,000 after buying an additional 538 shares in the last quarter. Vident Advisory LLC raised its stake in Ethan Allen Interiors by 4.1% during the second quarter. Vident Advisory LLC now owns 17,755 shares of the company’s stock valued at $494,000 after buying an additional 692 shares in the last quarter. GAMMA Investing LLC lifted its holdings in Ethan Allen Interiors by 6.0% during the 2nd quarter. GAMMA Investing LLC now owns 12,726 shares of the company’s stock worth $284,000 after buying an additional 715 shares during the last quarter. Finally, Franklin Resources Inc. lifted its holdings in Ethan Allen Interiors by 4.6% during the 3rd quarter. Franklin Resources Inc. now owns 17,426 shares of the company’s stock worth $513,000 after buying an additional 770 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.