NEW YORK, April 18 (newratings.com) – Analysts at Stifel Nicolaus & Company maintain their


“hold” rating on Stanley Furniture Company Inc (STLY.NAS), while raising their estimates for the company. The target price is set to $20.64.

In a research note published this morning, the analysts mention that the company has reported its 1Q EPS in-line with the consensus and ahead of the estimate. Stanley Furniture’s gross margins declined by 569bps on account of higher-than-expected raw material costs, lower-than-expected volumes and under-absorbed overheads, the analysts say. Despite the downturn in the furniture industry, the company continues to do well operationally, Stifel Nicolaus & Company adds. The EPS estimate for 2014 has been raised from $1.05 to $1.06.