Zacks Investment Research Upgrades Ethan Allen Interiors (NYSE:ETH) to Buy

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Zacks Investment Research upgraded shares of Ethan Allen Interiors (NYSE:ETH) from a hold rating to a buy rating in a research note issued to investors on Wednesday, Zacks.com reports. The brokerage currently has $23.00 price target on the stock.

According to Zacks, “Ethan Allen Interiors Inc. is a leading interior design company and manufacturer and retailer of quality home furnishings. The Company offers free interior design service to its clients and sells a full range of furniture products and decorative accessories through ethanallen.com and a network of the Design Centers in the United States and abroad. Ethan Allen owns and operates eight manufacturing facilities including six manufacturing facilities in the United States plus a plant in Mexico and one in Honduras. “

Several other analysts have also issued reports on the company. Telsey Advisory Group reissued a market perform rating and set a $58.00 target price (down from $65.00) on shares of Texas Roadhouse in a report on Tuesday, April 30th. ValuEngine lowered Virtu Financial from a hold rating to a sell rating in a report on Tuesday, June 18th. One equities research analyst has rated the stock with a sell rating and four have given a hold rating to the company. Ethan Allen Interiors currently has an average rating of Hold and an average target price of $20.82.

ETH opened at $20.74 on Wednesday. The firm has a market cap of $551.27 million, a price-to-earnings ratio of 15.36, a P/E/G ratio of 0.80 and a beta of 0.99. Ethan Allen Interiors has a 52-week low of $16.90 and a 52-week high of $25.30. The company has a current ratio of 1.77, a quick ratio of 0.47 and a debt-to-equity ratio of 0.02. The stock’s fifty day moving average is $20.94.

Ethan Allen Interiors (NYSE:ETH) last released its earnings results on Monday, April 29th. The company reported $0.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.17 by $0.14. The company had revenue of $177.80 million for the quarter, compared to analyst estimates of $181.02 million. Ethan Allen Interiors had a return on equity of 10.84% and a net margin of 5.27%. Ethan Allen Interiors’s quarterly revenue was down 2.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.11 EPS. As a group, equities analysts anticipate that Ethan Allen Interiors will post 1.59 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 25th. Investors of record on Wednesday, July 10th will be paid a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 3.66%. The ex-dividend date is Tuesday, July 9th. Ethan Allen Interiors’s dividend payout ratio (DPR) is presently 56.30%.

A number of large investors have recently added to or reduced their stakes in the stock. Oregon Public Employees Retirement Fund purchased a new stake in shares of Ethan Allen Interiors in the fourth quarter valued at about $165,000. First Trust Advisors LP lifted its holdings in shares of Ethan Allen Interiors by 18.6% in the fourth quarter. First Trust Advisors LP now owns 45,631 shares of the company’s stock valued at $803,000 after purchasing an additional 7,170 shares in the last quarter. California Public Employees Retirement System lifted its holdings in shares of Ethan Allen Interiors by 1.2% in the fourth quarter. California Public Employees Retirement System now owns 87,392 shares of the company’s stock valued at $1,537,000 after purchasing an additional 1,022 shares in the last quarter. BlackRock Inc. lifted its holdings in shares of Ethan Allen Interiors by 6.0% in the fourth quarter. BlackRock Inc. now owns 3,963,247 shares of the company’s stock valued at $69,714,000 after purchasing an additional 223,282 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in shares of Ethan Allen Interiors by 3.8% in the fourth quarter. Bank of New York Mellon Corp now owns 1,117,077 shares of the company’s stock valued at $19,648,000 after purchasing an additional 40,852 shares in the last quarter. 89.37% of the stock is currently owned by institutional investors and hedge funds.

About Ethan Allen Interiors

Ethan Allen Interiors Inc operates as an interior design company, and manufacturer and retailer of home furnishings in North America, Asia, the Middle East, and Europe. The company operates through two segments, Wholesale and Retail. Its products include case goods items, such as beds, dressers, armoires, tables, chairs, buffets, entertainment units, home office furniture, and wooden accents; upholstery items comprising sleepers, recliners and other motion furniture, chairs, ottomans, custom pillows, sofas, loveseats, cut fabrics, and leather; and home accents and other items consisting of window treatments and drapery hardware, wall decors, florals, lighting, clocks, mattresses, bedspreads, throws, pillows, decorative accents, area rugs, wall coverings, and home and garden furnishings.

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