Williams-Sonoma (WSM) Stock Rating Upgraded by Zacks Investment Research
Williams-Sonoma (NYSE:WSM) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Monday. The firm presently has a $66.00 price objective on the specialty retailer’s stock. Zacks Investment Research‘s price objective would suggest a potential upside of 15.12% from the company’s current price.
According to Zacks, “Shares of Williams-Sonoma have outperformed its industry over the past year. Its multi-channel shopping platform along with continued enhancement of e-commerce channel and optimization of supply chain are expected to drive growth. The company’s fourth-quarter fiscal 2018 earnings revenues topped the Zacks Consensus Estimate by 6.6% and 2.2%, and grew 25% and 9.3%, respectively. West Elm continues to shine, registering 11.1% comps growth. The company’s innovative efforts have helped it to drive e-commerce growth to an all-time high of 54.3% of the total revenues in the fiscal 2018. Also, investment in merchandising of its brands and digital marketing boosts its e-commerce revenues by 10.8% in 2018, almost double the fiscal 2017 growth rate. Its multi-channel shopping platform along with an industry leading e-commerce penetration will support its growth initiatives in 2019 and beyond.”
A number of other research firms have also issued reports on WSM. Credit Suisse Group raised Williams-Sonoma to a “hold wsm” rating and set a $50.00 target price on the stock in a report on Thursday, December 20th. ValuEngine lowered Williams-Sonoma from a “hold” rating to a “sell” rating in a report on Tuesday, December 25th. Evercore ISI initiated coverage on Williams-Sonoma in a report on Wednesday, March 20th. They issued an “in-line” rating and a $60.00 target price on the stock. Morgan Stanley lowered Williams-Sonoma from an “equal weight” rating to an “underweight” rating and set a $51.01 target price on the stock. in a report on Wednesday, January 23rd. Finally, JPMorgan Chase & Co. dropped their target price on Williams-Sonoma from $55.00 to $54.00 and set an “underweight” rating on the stock in a report on Monday, March 18th. Three equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and two have assigned a buy rating to the stock. Williams-Sonoma has an average rating of “Hold” and an average target price of $59.33.
Williams-Sonoma (NYSE:WSM) last released its earnings results on Wednesday, March 20th. The specialty retailer reported $2.10 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.97 by $0.13. The business had revenue of $1.84 billion for the quarter, compared to analyst estimates of $1.80 billion. Williams-Sonoma had a return on equity of 32.48% and a net margin of 5.88%. The company’s revenue for the quarter was up 9.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.68 earnings per share. Equities analysts predict that Williams-Sonoma will post 4.59 earnings per share for the current year.
A number of hedge funds have recently made changes to their positions in WSM. Oregon Public Employees Retirement Fund boosted its position in Williams-Sonoma by 5,231.1% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 1,617,629 shares of the specialty retailer’s stock worth $32,000 after purchasing an additional 1,587,286 shares in the last quarter. IMS Capital Management purchased a new stake in Williams-Sonoma during the third quarter worth $33,000. Pinnacle Bank purchased a new stake in Williams-Sonoma during the fourth quarter worth $36,000. IFP Advisors Inc boosted its position in Williams-Sonoma by 108.0% during the fourth quarter. IFP Advisors Inc now owns 1,504 shares of the specialty retailer’s stock worth $75,000 after purchasing an additional 781 shares in the last quarter. Finally, Csenge Advisory Group purchased a new stake in Williams-Sonoma during the third quarter worth $124,000.
Williams-Sonoma, Inc operates as a multi-channel specialty retailer of various products for home. It operates through two segments, E-commerce and Retail. The company offers cooking, dining, and entertaining products, including cookware, tools, electrics, cutlery, tabletop and bar, outdoor, furniture, and a library of cookbooks under the Williams Sonoma brand, as well as home furnishings and decorative accessories under the Williams Sonoma Home brand; and furniture, bedding, bathroom accessories, rugs, curtains, lighting, tabletop, outdoor, and decorative accessories under the Pottery Barn brand.
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