Telsey Advisory Group Reaffirms Market Perform Rating for Ethan Allen Interiors (NYSE:ETD)

Key Points

• Telsey Advisory Group has reaffirmed its "market perform" rating for Ethan Allen Interiors (NYSE:ETD) with a price target of $30.00, indicating a potential upside of 1.59% from the current stock price.
• Ethan Allen reported earnings per share (EPS) of $0.38 for the recent quarter, which was below analysts' expectations of $0.45, and also saw a revenue decline of 2.5% compared to the same period last year.
• Institutional investors hold a significant majority, with 83.80% of the stock owned by them, including notable increases in holdings by several hedge funds in recent quarters.

Ethan Allen Interiors (NYSE:ETD - Get Free Report)'s stock had its "market perform" rating reaffirmed by research analysts at Telsey Advisory Group in a research note issued on Friday,Benzinga reports. They currently have a $30.00 price target on the stock. Telsey Advisory Group's price target points to a potential upside of 1.59% from the stock's current price.

Ethan Allen Interiors Stock Performance

Shares of ETD stock opened at $29.53 on Friday. Ethan Allen Interiors has a 52-week low of $24.55 and a 52-week high of $35.62. The stock has a market cap of $750.95 million, a PE ratio of 13.12 and a beta of 1.16. The firm's 50 day moving average price is $27.81 and its two-hundred day moving average price is $27.93.

Ethan Allen Interiors (NYSE:ETD - Get Free Report) last announced its quarterly earnings data on Monday, May 5th. The company reported $0.38 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.45 by ($0.07). Ethan Allen Interiors had a net margin of 9.29% and a return on equity of 12.08%. The business had revenue of $142.70 million during the quarter, compared to the consensus estimate of $146.85 million. During the same period in the previous year, the business posted $0.48 earnings per share. Ethan Allen Interiors's revenue was down 2.5% compared to the same quarter last year. As a group, sell-side analysts predict that Ethan Allen Interiors will post 2.32 earnings per share for the current fiscal year.

Insider Buying and Selling at Ethan Allen Interiors

In other news, CEO M Farooq Kathwari sold 10,000 shares of Ethan Allen Interiors stock in a transaction on Monday, May 19th. The shares were sold at an average price of $26.85, for a total transaction of $268,500.00. Following the transaction, the chief executive officer directly owned 1,611,905 shares of the company's stock, valued at $43,279,649.25. This trade represents a 0.62% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders have sold 11,366 shares of company stock worth $305,390 over the last quarter. Company insiders own 10.48% of the company's stock.

Hedge Funds Weigh In On Ethan Allen Interiors

A number of hedge funds and other institutional investors have recently made changes to their positions in ETD. IFP Advisors Inc boosted its position in shares of Ethan Allen Interiors by 12,857.1% during the first quarter. IFP Advisors Inc now owns 907 shares of the company's stock worth $25,000 after purchasing an additional 900 shares in the last quarter. State of Wyoming bought a new stake in Ethan Allen Interiors in the 4th quarter valued at $52,000. Quarry LP lifted its position in Ethan Allen Interiors by 73.3% in the 4th quarter. Quarry LP now owns 2,604 shares of the company's stock valued at $73,000 after acquiring an additional 1,101 shares in the last quarter. AlphaQuest LLC lifted its position in Ethan Allen Interiors by 344.8% in the 1st quarter. AlphaQuest LLC now owns 3,398 shares of the company's stock valued at $94,000 after acquiring an additional 2,634 shares in the last quarter. Finally, KLP Kapitalforvaltning AS bought a new stake in Ethan Allen Interiors in the 4th quarter valued at $112,000. 83.80% of the stock is owned by institutional investors.

Ethan Allen Interiors Company Profile

Ethan Allen Interiors Inc operates as an interior design company, and manufacturer and retailer of home furnishings in the United States, Mexico, Honduras, and Canada. The company operates in 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 comprising fabric-covered items, such as sleepers, recliners and other motion furniture, chairs, ottomans, custom pillows, sofas, loveseats, cut fabrics, and leather; and home accent 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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