Ethan Allen Interiors (NYSE:ETD) Announces Quarterly Earnings Results

Ethan Allen Interiors (NYSE:ETD) released its quarterly earnings results on Wednesday. The company reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.38 by $0.06, FiscalAI reports. Ethan Allen Interiors had a net margin of 7.79% and a return on equity of 10.08%.

Ethan Allen Interiors Stock Down 0.9%

Shares of Ethan Allen Interiors stock traded down $0.21 on Wednesday, hitting $24.09. 500,138 shares of the company traded hands, compared to its average volume of 328,788. Ethan Allen Interiors has a 12-month low of $21.67 and a 12-month high of $32.61. The company has a market cap of $613.07 million, a PE ratio of 13.02 and a beta of 1.16. The company has a 50-day moving average price of $23.81 and a 200 day moving average price of $26.62.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Zacks Research upgraded Ethan Allen Interiors from a “strong sell” rating to a “hold” rating in a report on Monday, December 29th. Weiss Ratings cut shares of Ethan Allen Interiors from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, December 29th. Finally, Telsey Advisory Group reaffirmed a “market perform” rating and set a $28.00 target price on shares of Ethan Allen Interiors in a research report on Thursday, January 22nd. Two research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Ethan Allen Interiors currently has a consensus rating of “Reduce” and an average target price of $28.00.

Insider Buying and Selling at Ethan Allen Interiors

In related news, CEO M Farooq Kathwari sold 2,168 shares of the firm’s stock in a transaction that occurred on Thursday, January 22nd. The shares were sold at an average price of $25.01, for a total transaction of $54,221.68. Following the transaction, the chief executive officer owned 1,483,228 shares of the company’s stock, valued at approximately $37,095,532.28. This trade represents a 0.15% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 9.92% of the stock is owned by company insiders.

Institutional Trading of Ethan Allen Interiors

Several large investors have recently modified their holdings of the company. Tower Research Capital LLC TRC boosted its holdings 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 acquiring an additional 2,398 shares during the period. Osaic Holdings Inc. increased its position in Ethan Allen Interiors by 31.2% in the 2nd quarter. Osaic Holdings Inc. now owns 6,682 shares of the company’s stock worth $186,000 after buying an additional 1,589 shares during the period. Brown Advisory Inc. acquired a new position in shares of Ethan Allen Interiors during the second quarter worth approximately $204,000. Rafferty Asset Management LLC bought a new position in Ethan Allen Interiors during the second quarter worth $222,000. Finally, The Manufacturers Life Insurance Company lifted its stake in shares of Ethan Allen Interiors by 9.8% in the second quarter. The Manufacturers Life Insurance Company now owns 8,930 shares of the company’s stock valued at $249,000 after buying an additional 800 shares during the period. 83.80% of the stock is owned by institutional investors.

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.