Ethan Allen Interiors (NYSE:ETD) Shares Up 12.2% on Better-Than-Expected Earnings

Shares of Ethan Allen Interiors Inc. (NYSE:ETD) shot up 12.2% on Thursday following a stronger than expected earnings report. The company traded as high as $34.64 and last traded at $34.64. 56,238 shares were traded during mid-day trading, a decline of 72% from the average session volume of 199,665 shares. The stock had previously closed at $30.87.

The company reported $0.70 EPS for the quarter, beating the consensus estimate of $0.54 by $0.16. The business had revenue of $168.63 million during the quarter, compared to analyst estimates of $159.65 million. Ethan Allen Interiors had a net margin of 10.63% and a return on equity of 14.93%. The company’s quarterly revenue was down 10.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.96 earnings per share.

Wall Street Analysts Forecast Growth

Separately, Telsey Advisory Group restated a “market perform” rating and set a $30.00 target price on shares of Ethan Allen Interiors in a research note on Wednesday, July 24th.

Insiders Place Their Bets

In other news, CEO M Farooq Kathwari sold 10,000 shares of Ethan Allen Interiors stock in a transaction on Wednesday, July 17th. The shares were sold at an average price of $31.05, for a total transaction of $310,500.00. Following the completion of the sale, the chief executive officer now directly owns 1,715,193 shares in the company, valued at $53,256,742.65. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 10.90% of the stock is owned by insiders.

Hedge Funds Weigh In On Ethan Allen Interiors

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. raised its holdings in shares of Ethan Allen Interiors by 1.6% during the first quarter. Vanguard Group Inc. now owns 1,640,722 shares of the company’s stock worth $56,720,000 after purchasing an additional 25,472 shares during the last quarter. First Trust Advisors LP grew its position in Ethan Allen Interiors by 56.6% during the 4th quarter. First Trust Advisors LP now owns 779,958 shares of the company’s stock worth $24,896,000 after purchasing an additional 281,900 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of Ethan Allen Interiors by 0.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 731,077 shares of the company’s stock valued at $23,336,000 after buying an additional 5,108 shares during the last quarter. UBS Group AG lifted its holdings in shares of Ethan Allen Interiors by 56.8% in the 4th quarter. UBS Group AG now owns 444,933 shares of the company’s stock valued at $14,202,000 after buying an additional 161,158 shares during the period. Finally, North Star Investment Management Corp. boosted its stake in shares of Ethan Allen Interiors by 3.6% in the first quarter. North Star Investment Management Corp. now owns 174,850 shares of the company’s stock worth $6,045,000 after buying an additional 6,000 shares during the last quarter. Institutional investors and hedge funds own 83.80% of the company’s stock.

Ethan Allen Interiors Price Performance

The firm has a fifty day moving average of $28.38 and a 200 day moving average of $30.23. The stock has a market capitalization of $894.94 million, a price-to-earnings ratio of 11.24 and a beta of 1.28.

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.