Shutterfly (NASDAQ:SFLY) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Thursday.

According to Zacks, “Shutterfly’s business is highly seasonal and thus it generally incurs losses in the first three quarters of the year. The company’s net revenues and performance are affected by vacation and other travel trends as these drive digital camera sales. Moreover, the company’s high dependency on consumer spending trends in the United States further creates volatility in its sales. Also, costs related to accelerated development of the new production facilities along with a rise in the manufacturing, labor and training costs are expected to remain headwinds. Although shares outperformed its industry in a year's time, estimates have been trending downward. However, acquisition of Lifetouch and robust performance by the Shutterfly Business Solutions segment drove the company’s results during second-quarter 2018. Shutterfly’s focus on improving operational efficiency through major restructuring add to the positives.”

A number of other equities research analysts also recently weighed in on SFLY. BidaskClub downgraded shares of Shutterfly from a “buy” rating to a “hold” rating in a research note on Wednesday, June 20th. ValuEngine downgraded shares of Shutterfly from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 2nd. Robert W. Baird boosted their price target on shares of Shutterfly from $85.00 to $95.00 and gave the stock a “neutral” rating in a research note on Friday, July 6th. SunTrust Banks dropped their price target on shares of Shutterfly to $100.00 and set a “buy” rating for the company in a research note on Wednesday. Finally, TheStreet downgraded shares of Shutterfly from a “b-” rating to a “c+” rating in a research note on Tuesday, September 4th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $92.80.

SFLY opened at $61.38 on Thursday. The company has a quick ratio of 1.66, a current ratio of 1.72 and a debt-to-equity ratio of 2.01. The company has a market cap of $2.12 billion, a P/E ratio of 58.46, a price-to-earnings-growth ratio of 0.98 and a beta of 0.95. Shutterfly has a fifty-two week low of $39.76 and a fifty-two week high of $100.34.

Shutterfly (NASDAQ:SFLY) last posted its quarterly earnings results on Tuesday, August 7th. The technology company reported $0.53 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.43) by $0.96. The business had revenue of $443.37 million during the quarter, compared to the consensus estimate of $438.30 million. Shutterfly had a net margin of 2.26% and a return on equity of 13.03%. On average, equities research analysts anticipate that Shutterfly will post 2.69 earnings per share for the current fiscal year.

In other Shutterfly news, SVP Dwayne A. Black sold 3,352 shares of the company’s stock in a transaction that occurred on Tuesday, August 14th. The shares were sold at an average price of $73.37, for a total value of $245,936.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Ishantha Lokuge sold 3,740 shares of the company’s stock in a transaction that occurred on Monday, October 15th. The shares were sold at an average price of $61.45, for a total transaction of $229,823.00. Following the completion of the sale, the senior vice president now directly owns 7,500 shares of the company’s stock, valued at approximately $460,875. The disclosure for this sale can be found here. Insiders sold 36,264 shares of company stock valued at $2,555,105 in the last ninety days. Insiders own 0.80% of the company’s stock.

A number of large investors have recently modified their holdings of the business. United Services Automobile Association increased its stake in Shutterfly by 14.2% in the second quarter. United Services Automobile Association now owns 5,904 shares of the technology company’s stock valued at $532,000 after purchasing an additional 732 shares in the last quarter. Northern Trust Corp increased its stake in Shutterfly by 3.5% in the second quarter. Northern Trust Corp now owns 432,912 shares of the technology company’s stock valued at $38,974,000 after purchasing an additional 14,590 shares in the last quarter. Public Employees Retirement System of Ohio increased its stake in Shutterfly by 55.7% in the second quarter. Public Employees Retirement System of Ohio now owns 16,920 shares of the technology company’s stock valued at $1,523,000 after purchasing an additional 6,050 shares in the last quarter. WINTON GROUP Ltd bought a new stake in Shutterfly in the second quarter valued at approximately $10,663,000. Finally, Verition Fund Management LLC bought a new stake in Shutterfly in the second quarter valued at approximately $1,669,000.

About Shutterfly

Shutterfly, Inc manufactures and retails personalized products and services primarily in the United States, Canada, and the European Community. The company operates through Consumer and Shutterfly Business Solutions segments. It offers a range of personalized photo-based products and services that enable consumers to upload, edit, enhance, organize, find, share, create, print, and preserve their memories.

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