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

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

A number of other research analysts have also issued reports on ETD. Telsey Advisory Group reduced their price objective on Ethan Allen Interiors from $24.00 to $22.00 and set a “market perform” rating for the company in a research report on Thursday. Weiss Ratings downgraded Ethan Allen Interiors from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, May 4th. One research 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 has an average rating of “Sell” and a consensus price target of $22.00.

Ethan Allen Interiors Stock Performance

NYSE ETD opened at $22.40 on Thursday. Ethan Allen Interiors has a one year low of $18.28 and a one year high of $31.41. The company has a 50-day simple moving average of $21.78 and a 200-day simple moving average of $22.23. The firm has a market capitalization of $570.03 million, a PE ratio of 14.36 and a beta of 1.01.

Ethan Allen Interiors (NYSE:ETD) last issued its earnings results on Wednesday, July 29th. The company reported $0.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.34 by $0.02. Ethan Allen Interiors had a net margin of 6.88% and a return on equity of 7.88%. The firm had revenue of $146.75 million for the quarter, compared to analysts’ expectations of $148.70 million. During the same quarter last year, the company posted $0.49 earnings per share. Ethan Allen Interiors’s revenue was down 8.5% on a year-over-year basis. Equities analysts forecast that Ethan Allen Interiors will post 1.35 earnings per share for the current year.

Institutional Trading of Ethan Allen Interiors

Large investors have recently added to or reduced their stakes in the business. Unison Advisors LLC increased its position in Ethan Allen Interiors by 1.6% in the 1st quarter. Unison Advisors LLC now owns 32,603 shares of the company’s stock valued at $726,000 after acquiring an additional 517 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Ethan Allen Interiors by 4.1% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,544 shares of the company’s stock worth $375,000 after acquiring an additional 538 shares during the period. Vident Advisory LLC boosted its position in Ethan Allen Interiors by 4.1% during the 2nd quarter. Vident Advisory LLC now owns 17,755 shares of the company’s stock worth $494,000 after acquiring an additional 692 shares during the period. GAMMA Investing LLC grew its stake in shares of Ethan Allen Interiors by 6.0% in the second quarter. GAMMA Investing LLC now owns 12,726 shares of the company’s stock worth $284,000 after purchasing an additional 715 shares in the last quarter. Finally, Franklin Resources Inc. grew its stake in shares of Ethan Allen Interiors by 4.6% in the third quarter. Franklin Resources Inc. now owns 17,426 shares of the company’s stock worth $513,000 after purchasing an additional 770 shares in the last quarter. 83.80% of the stock is currently owned by institutional investors and hedge funds.

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.