Ethan Allen Interiors (NYSE:ETD) Shares Up 9.8% – Here’s Why

Ethan Allen Interiors Inc. (NYSE:ETD)’s stock price shot up 9.8% on Thursday . The company traded as high as $31.00 and last traded at $31.36. 68,889 shares were traded during mid-day trading, a decline of 65% from the average session volume of 195,140 shares. The stock had previously closed at $28.57.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Telsey Advisory Group restated a “market perform” rating and issued a $32.00 target price on shares of Ethan Allen Interiors in a research note on Thursday. Argus reissued a “hold” rating on shares of Ethan Allen Interiors in a research note on Monday, January 13th.

Ethan Allen Interiors Stock Up 13.6 %

The firm’s 50 day moving average is $29.11 and its 200-day moving average is $29.86. The firm has a market cap of $825.33 million, a PE ratio of 13.15 and a beta of 1.31.

Ethan Allen Interiors (NYSE:ETD) last issued its quarterly earnings results on Wednesday, January 29th. The company reported $0.59 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.01). Ethan Allen Interiors had a return on equity of 13.12% and a net margin of 9.99%. On average, analysts forecast that Ethan Allen Interiors Inc. will post 2.3 earnings per share for the current year.

Insider Activity at Ethan Allen Interiors

In other Ethan Allen Interiors news, CEO M Farooq Kathwari sold 10,000 shares of the business’s stock in a transaction on Friday, January 17th. The shares were sold at an average price of $28.67, for a total value of $286,700.00. Following the transaction, the chief executive officer now owns 1,651,905 shares in the company, valued at $47,360,116.35. The trade was a 0.60 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 10.48% of the stock is owned by insiders.

Hedge Funds Weigh In On Ethan Allen Interiors

Several institutional investors and hedge funds have recently made changes to their positions in ETD. GSA Capital Partners LLP acquired a new position in shares of Ethan Allen Interiors during the third quarter valued at $862,000. FMR LLC grew its holdings in Ethan Allen Interiors by 421.3% during the third quarter. FMR LLC now owns 18,943 shares of the company’s stock worth $604,000 after acquiring an additional 15,309 shares during the period. Barclays PLC boosted its holdings in Ethan Allen Interiors by 113.8% during the third quarter. Barclays PLC now owns 57,174 shares of the company’s stock worth $1,824,000 after buying an additional 30,437 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Ethan Allen Interiors during the third quarter valued at $1,132,000. Finally, Geode Capital Management LLC boosted its stake in Ethan Allen Interiors by 0.6% in the 3rd quarter. Geode Capital Management LLC now owns 538,595 shares of the company’s stock worth $17,179,000 after purchasing an additional 3,310 shares during the period. 83.80% of the stock is currently owned by hedge funds and other institutional investors.

About Ethan Allen Interiors

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.