Ethan Allen Interiors (NYSE:ETH) Downgraded by Zacks Investment Research to “Sell”

Zacks Investment Research downgraded shares of Ethan Allen Interiors (NYSE:ETH) from a hold rating to a sell rating in a research report released on Wednesday morning, Zacks.com reports.

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. “

A number of other brokerages have also recently weighed in on ETH. ValuEngine upgraded Ethan Allen Interiors from a sell rating to a hold rating in a research report on Friday, January 3rd. Telsey Advisory Group dropped their price target on Ethan Allen Interiors from $20.00 to $19.00 and set a market perform rating on the stock in a research report on Tuesday, November 5th. TheStreet cut Ethan Allen Interiors from a b- rating to a c+ rating in a research report on Tuesday, December 3rd. Finally, Stifel Nicolaus dropped their price target on Ethan Allen Interiors from $19.00 to $17.00 and set a hold rating on the stock in a research report on Tuesday. One investment analyst has rated the stock with a sell rating and five have given a hold rating to the company’s stock. Ethan Allen Interiors has an average rating of Hold and an average target price of $19.36.

NYSE:ETH traded up $0.20 on Wednesday, hitting $18.12. 2,453 shares of the stock were exchanged, compared to its average volume of 222,159. The stock has a market cap of $476.49 million, a PE ratio of 11.65 and a beta of 0.91. The company has a current ratio of 1.46, a quick ratio of 0.51 and a debt-to-equity ratio of 0.32. The stock has a fifty day moving average of $18.13 and a 200-day moving average of $18.78. Ethan Allen Interiors has a fifty-two week low of $16.63 and a fifty-two week high of $23.11.

Ethan Allen Interiors (NYSE:ETH) last issued its earnings results on Monday, November 4th. The company reported $0.35 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.35. The company had revenue of $173.92 million during the quarter, compared to the consensus estimate of $174.07 million. Ethan Allen Interiors had a return on equity of 11.39% and a net margin of 4.23%. The company’s revenue was down 7.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.33 earnings per share. As a group, analysts predict that Ethan Allen Interiors will post 1.4 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 23rd. Stockholders of record on Thursday, January 9th will be paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 4.64%. The ex-dividend date of this dividend is Wednesday, January 8th. Ethan Allen Interiors’s dividend payout ratio is presently 53.85%.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in shares of Ethan Allen Interiors by 3.6% during the 2nd quarter. Vanguard Group Inc. now owns 2,730,949 shares of the company’s stock worth $57,514,000 after acquiring an additional 95,984 shares in the last quarter. Northern Trust Corp boosted its position in shares of Ethan Allen Interiors by 1.2% in the second quarter. Northern Trust Corp now owns 640,397 shares of the company’s stock worth $13,486,000 after buying an additional 7,370 shares during the period. Invesco Ltd. boosted its position in shares of Ethan Allen Interiors by 4.3% in the second quarter. Invesco Ltd. now owns 633,322 shares of the company’s stock worth $13,338,000 after buying an additional 26,395 shares during the period. Systematic Financial Management LP boosted its position in shares of Ethan Allen Interiors by 304.4% in the third quarter. Systematic Financial Management LP now owns 514,288 shares of the company’s stock worth $9,823,000 after buying an additional 387,113 shares during the period. Finally, Morgan Stanley boosted its position in shares of Ethan Allen Interiors by 27.4% in the second quarter. Morgan Stanley now owns 322,879 shares of the company’s stock worth $6,800,000 after buying an additional 69,497 shares during the period. 92.03% of the stock is 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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