Ethan Allen Interiors (NYSE:ETH) Raised to “Buy” at Zacks Investment Research

Zacks Investment Research upgraded shares of Ethan Allen Interiors (NYSE:ETH) from a hold rating to a buy rating in a research note issued to investors on Wednesday, Zacks.com reports. Zacks Investment Research currently has $23.00 price objective on the stock.

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. “

Several other equities research analysts have also issued reports on ETH. Telsey Advisory Group reissued a market perform rating and issued a $58.00 price target (down previously from $65.00) on shares of Texas Roadhouse in a report on Tuesday, April 30th. ValuEngine lowered shares of Virtu Financial from a hold rating to a sell rating in a report on Tuesday, June 18th. One analyst has rated the stock with a sell rating and four have assigned a hold rating to the stock. Ethan Allen Interiors currently has an average rating of Hold and an average target price of $20.82.

Ethan Allen Interiors stock opened at $20.74 on Wednesday. The stock has a 50 day moving average price of $20.94. The stock has a market capitalization of $546.47 million, a P/E ratio of 13.44, a P/E/G ratio of 0.80 and a beta of 0.99. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.47 and a current ratio of 1.77. Ethan Allen Interiors has a fifty-two week low of $16.90 and a fifty-two week high of $25.30.

Ethan Allen Interiors (NYSE:ETH) last released its earnings results on Monday, April 29th. The company reported $0.31 earnings per share for the quarter, topping the consensus estimate of $0.17 by $0.14. The business had revenue of $177.80 million for the quarter, compared to the consensus estimate of $181.02 million. Ethan Allen Interiors had a net margin of 5.27% and a return on equity of 10.84%. The firm’s quarterly revenue was down 2.0% compared to the same quarter last year. During the same period last year, the firm posted $0.11 earnings per share. As a group, research analysts predict that Ethan Allen Interiors will post 1.59 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 25th. Shareholders of record on Wednesday, July 10th will be issued a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 3.66%. The ex-dividend date of this dividend is Tuesday, July 9th. Ethan Allen Interiors’s dividend payout ratio is currently 56.30%.

Institutional investors have recently added to or reduced their stakes in the business. Oregon Public Employees Retirement Fund acquired a new stake in shares of Ethan Allen Interiors in the fourth quarter valued at $165,000. First Trust Advisors LP raised its stake in shares of Ethan Allen Interiors by 18.6% in the fourth quarter. First Trust Advisors LP now owns 45,631 shares of the company’s stock valued at $803,000 after acquiring an additional 7,170 shares in the last quarter. California Public Employees Retirement System raised its stake in shares of Ethan Allen Interiors by 1.2% in the fourth quarter. California Public Employees Retirement System now owns 87,392 shares of the company’s stock valued at $1,537,000 after acquiring an additional 1,022 shares in the last quarter. BlackRock Inc. raised its stake in shares of Ethan Allen Interiors by 6.0% in the fourth quarter. BlackRock Inc. now owns 3,963,247 shares of the company’s stock valued at $69,714,000 after acquiring an additional 223,282 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its stake in shares of Ethan Allen Interiors by 3.8% in the fourth quarter. Bank of New York Mellon Corp now owns 1,117,077 shares of the company’s stock valued at $19,648,000 after acquiring an additional 40,852 shares in the last quarter. Institutional investors own 89.37% of the company’s stock.

Ethan Allen Interiors Company Profile

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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