Ethan Allen Interiors Inc. (NYSE:ETD) Sees Significant Short-Term Interest Growth


Ethan Allen Interiors Inc. (NYSE: ETD – Get Rating) was the target of a significant increase in short-term interest in April. As of April 15, there was short interest totaling 3,450,000 shares, an increase of 23.7% from the March 31 total of 2,790,000 shares. Currently, 15.2% of the company’s shares are sold short. Based on an average daily trading volume of 443,800 shares, the day-to-cover ratio is currently 7.8 days.

A number of hedge funds have recently changed their positions in the business. Hillsdale Investment Management Inc. acquired a new position in Ethan Allen Interiors during the first quarter worth approximately $33,000. Dorsey Wright & Associates acquired a new position in Ethan Allen Interiors during the first quarter worth approximately $42,000. Fifth Third Bancorp acquired a new position in Ethan Allen Interiors during the first quarter worth approximately $43,000. Mutual of America Capital Management LLC acquired a new position in Ethan Allen Interiors during the first quarter worth approximately $83,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in Ethan Allen Interiors during the first quarter worth approximately $108,000. 85.11% of the shares are currently held by hedge funds and other institutional investors.

Ethan Allen Interiors stock traded down $0.10 during Tuesday’s trading, hitting $24.57. The company had a trading volume of 1,038 shares, compared to an average volume of 433,095. Ethan Allen Interiors has a 12-month low of $22.02 and a 12-month high of $32.15. The stock’s 50-day moving average price is $25.88 and its two-hundred-day moving average price is $25.25. The company has a market capitalization of $621.62 million, a price-earnings ratio of 7.01 and a beta of 1.10.

Ethan Allen Interiors (NYSE:ETD – Get Rating) last released its results on Thursday, April 28. The company reported earnings per share (EPS) of $0.93 for the quarter, beating consensus analyst estimates of $0.76 by $0.17. Ethan Allen Interiors achieved a net margin of 11.73% and a return on equity of 24.15%. The company posted revenue of $197.66 million in the quarter, versus a consensus estimate of $197.10 million. In the same period a year earlier, the company earned earnings per share of $0.58. Ethan Allen Interiors sales increased 11.7% compared to the same quarter last year. Stock analysts expect Ethan Allen Interiors to post earnings per share of 3.49 for the current year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 25. Investors of record on Tuesday, May 10 will receive a dividend of $0.32. This represents a dividend of $1.28 on an annualized basis and a yield of 5.21%. This is an increase from Ethan Allen Interiors’ previous quarterly dividend of $0.29. The ex-dividend date is Monday, May 9. Ethan Allen Interiors’ payout ratio is currently 32.95%.

A number of equity research analysts have recently commented on ETD stocks. StockNews.com began covering Ethan Allen Interiors shares in a report on Thursday, March 31. They set a “buy” rating for the company. Zacks Investment Research upgraded shares of Ethan Allen Interiors from a “hold” rating to a “buy” rating and set a price target of $27.00 for the company in a report released Monday.

About Ethan Allen Interiors (Get a rating)

Ethan Allen Interiors Inc operates as an interior design company and home furnishings manufacturer and retailer in the United States, Mexico, Honduras and Canada. The Company operates through two segments, Wholesale and Retail. Its products include storage items, such as beds, dressers, cabinets, tables, chairs, sideboards, entertainment units, home office furniture and wood accents; upholstery items including sleepers, recliners and other moveable furniture, chairs, ottomans, custom pillows, sofas, loveseats, cut fabrics and leather; and home accent items including window treatments and drapery hardware, wall hangings, flowers, lighting, clocks, mattresses, bedspreads, throws, pillows, decorative accents, area rugs, wall coverings, and home and garden furniture.

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