Telsey Advisory Group Cuts Ethan Allen Interiors (NYSE:ETD) Price Target to $22.00

Ethan Allen Interiors (NYSE:ETD) had its target price cut by Telsey Advisory Group from $24.00 to $22.00 in a research report released on Thursday, Marketbeat reports. They currently have a market perform rating on the stock.

ETD has been the subject of several other reports. Zacks Research raised Ethan Allen Interiors from a “strong sell” rating to a “hold” rating in a report on Monday, June 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, May 4th. One analyst has rated the stock with a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Sell” and an average price target of $22.00.

Ethan Allen Interiors Stock Performance

NYSE:ETD opened at $22.40 on Thursday. The company has a market cap of $570.03 million, a price-to-earnings ratio of 14.36 and a beta of 1.01. The stock’s fifty day moving average price is $21.78 and its two-hundred day moving average price is $22.23. Ethan Allen Interiors has a 52-week low of $18.28 and a 52-week high of $31.41.

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

Ethan Allen Interiors Announces Dividend

The company also recently declared a special dividend, which will be paid on Wednesday, August 26th. Stockholders of record on Wednesday, August 12th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Wednesday, August 12th. Ethan Allen Interiors’s dividend payout ratio (DPR) is currently 100.00%.

Hedge Funds Weigh In On Ethan Allen Interiors

Several institutional investors and hedge funds have recently made changes to their positions in the company. Balyasny Asset Management L.P. acquired a new position in shares of Ethan Allen Interiors in the 2nd quarter valued at approximately $5,845,000. JPMorgan Chase & Co. increased its stake in Ethan Allen Interiors by 260.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 191,688 shares of the company’s stock worth $5,647,000 after purchasing an additional 138,452 shares in the last quarter. Millennium Management LLC raised its holdings in Ethan Allen Interiors by 198.3% during the 4th quarter. Millennium Management LLC now owns 206,945 shares of the company’s stock worth $4,727,000 after buying an additional 137,566 shares during the period. Jacobs Levy Equity Management Inc. raised its holdings in Ethan Allen Interiors by 42.6% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 391,769 shares of the company’s stock worth $11,542,000 after buying an additional 117,047 shares during the period. Finally, Jane Street Group LLC lifted its stake in Ethan Allen Interiors by 31.2% in the first quarter. Jane Street Group LLC now owns 371,979 shares of the company’s stock valued at $10,304,000 after buying an additional 88,383 shares in the last quarter. Institutional investors and hedge funds own 83.80% of the company’s stock.

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.