Zacks Investment Research Upgrades Ethan Allen Interiors (NYSE:ETH) to Buy

Zacks Investment Research upgraded shares of Ethan Allen Interiors (NYSE:ETH) from a hold rating to a buy rating in a research note released on Wednesday morning, Zacks.com reports. The brokerage currently has $23.00 target price 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. “

A number of other research firms also recently weighed in on ETH. ValuEngine downgraded Virtu Financial from a hold rating to a sell rating in a research report on Tuesday, June 18th. Telsey Advisory Group reaffirmed a market perform rating and set a $58.00 price target (down previously from $65.00) on shares of Texas Roadhouse in a research report on Tuesday, April 30th. One research analyst has rated the stock with a sell rating and four have issued a hold rating to the company. Ethan Allen Interiors currently has a consensus rating of Hold and a consensus price target of $20.82.

NYSE:ETH opened at $20.74 on Wednesday. Ethan Allen Interiors has a twelve month low of $16.90 and a twelve month high of $25.30. The company has a current ratio of 1.77, a quick ratio of 0.47 and a debt-to-equity ratio of 0.02. The business’s 50 day moving average price is $20.94. The firm has a market cap of $551.27 million, a P/E ratio of 15.36, a P/E/G ratio of 0.80 and a beta of 0.99.

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

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

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Kessler Investment Group LLC boosted its holdings in shares of Ethan Allen Interiors by 39.1% in the 1st quarter. Kessler Investment Group LLC now owns 7,688 shares of the company’s stock valued at $147,000 after buying an additional 2,161 shares during the last quarter. Convergence Investment Partners LLC acquired a new stake in shares of Ethan Allen Interiors in the 1st quarter valued at approximately $149,000. Metropolitan Life Insurance Co. NY boosted its holdings in shares of Ethan Allen Interiors by 375.4% in the 4th quarter. Metropolitan Life Insurance Co. NY now owns 8,571 shares of the company’s stock valued at $151,000 after buying an additional 6,768 shares during the last quarter. Oregon Public Employees Retirement Fund acquired a new stake in shares of Ethan Allen Interiors in the 4th quarter valued at approximately $165,000. Finally, Municipal Employees Retirement System of Michigan acquired a new stake in shares of Ethan Allen Interiors in the 4th quarter valued at approximately $196,000. 89.37% of the stock is owned by institutional investors.

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.

Featured Article: Why is the Consumer Price Index (CPI) important?

Get a free copy of the Zacks research report on Ethan Allen Interiors (ETH)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Ethan Allen Interiors Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ethan Allen Interiors and related companies with MarketBeat.com's FREE daily email newsletter.