Ethan Allen Interiors (NYSE:ETD) Issues Quarterly Earnings Results, Beats Estimates By $0.06 EPS

Ethan Allen Interiors (NYSE:ETD) announced its quarterly earnings results on Wednesday. The company reported $0.44 EPS for the quarter, topping analysts’ consensus estimates 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 Trading Down 0.9%

Shares of NYSE:ETD traded down $0.21 during trading on Wednesday, hitting $24.09. 500,138 shares of the company’s stock traded hands, compared to its average volume of 328,788. The company has a 50-day moving average price of $23.81 and a 200-day moving average price of $26.62. Ethan Allen Interiors has a 52 week low of $21.67 and a 52 week high of $32.61. The company has a market cap of $613.07 million, a price-to-earnings ratio of 13.02 and a beta of 1.16.

Wall Street Analyst Weigh In

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

Insider Activity

In other news, CEO M Farooq Kathwari sold 2,168 shares of the business’s stock in a transaction dated Thursday, January 22nd. The stock was sold at an average price of $25.01, for a total value of $54,221.68. Following the sale, the chief executive officer directly owned 1,483,228 shares in the company, valued at $37,095,532.28. The trade was a 0.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 9.92% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Tower Research Capital LLC TRC grew its position in shares of Ethan Allen Interiors by 365.5% in the 2nd 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 stake in shares of Ethan Allen Interiors by 31.2% during the second quarter. Osaic Holdings Inc. now owns 6,682 shares of the company’s stock worth $186,000 after purchasing an additional 1,589 shares during the period. Brown Advisory Inc. acquired a new stake in Ethan Allen Interiors during the 2nd quarter worth approximately $204,000. Rafferty Asset Management LLC acquired a new stake in Ethan Allen Interiors during the 2nd quarter worth approximately $222,000. Finally, The Manufacturers Life Insurance Company grew its holdings in Ethan Allen Interiors by 9.8% in the 2nd 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 in the last quarter. 83.80% of the stock is currently 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.