Zacks Investment Research Upgrades Williams-Sonoma, Inc. (WSM) to “Buy”
Williams-Sonoma, Inc. (NYSE:WSM) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Wednesday. The brokerage currently has a $50.00 price target on the specialty retailer’s stock. Zacks Investment Research‘s price objective would suggest a potential upside of 13.07% from the company’s previous close.
According to Zacks, “Williams-Sonoma enjoys a competitive advantage owing to its multi-brand/multi-channel business model. The company is focused on enhancing customer experience through improved and innovative marketing techniques. Though shares of Williams-Sonoma underperformed its industry so far this year, earnings estimates for the current year have moved north over the last 60 days. However, comparable brand revenues have been sluggish for several quarters owing to soft retail environment and cautious customers.”
A number of other research firms also recently weighed in on WSM. Gordon Haskett began coverage on shares of Williams-Sonoma in a research note on Tuesday, May 9th. They set an “accumulate” rating and a $61.00 price target on the stock. ValuEngine upgraded shares of Williams-Sonoma from a “hold” rating to a “buy” rating in a research note on Tuesday, May 16th. Credit Suisse Group reiterated a “hold” rating and set a $44.00 price target on shares of Williams-Sonoma in a research note on Tuesday, May 23rd. Oppenheimer Holdings, Inc. reiterated a “hold” rating on shares of Williams-Sonoma in a research note on Thursday, May 25th. Finally, Telsey Advisory Group lifted their price target on shares of Williams-Sonoma from $51.00 to $57.00 and gave the stock a “market perform” rating in a research note on Thursday, May 25th. Two equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and eight have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $56.68.
Williams-Sonoma (WSM) traded up 1.20% on Wednesday, hitting $44.75. 505,286 shares of the stock were exchanged. The company’s 50 day moving average is $46.25 and its 200 day moving average is $49.11. The stock has a market cap of $3.88 billion, a PE ratio of 13.04 and a beta of 0.89. Williams-Sonoma has a 1-year low of $43.96 and a 1-year high of $57.40. Williams-Sonoma also was the recipient of unusually large options trading activity on Monday. Traders acquired 30,089 put options on the company. This represents an increase of approximately 1,511% compared to the typical daily volume of 1,868 put options.
Williams-Sonoma (NYSE:WSM) last posted its quarterly earnings results on Wednesday, May 24th. The specialty retailer reported $0.51 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.49 by $0.02. Williams-Sonoma had a net margin of 5.99% and a return on equity of 25.51%. The firm had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $1.11 billion. During the same quarter in the previous year, the company earned $0.53 earnings per share. The business’s revenue was up 1.3% compared to the same quarter last year. On average, equities research analysts expect that Williams-Sonoma will post $3.56 earnings per share for the current year.
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A number of hedge funds have recently made changes to their positions in the company. Koch Industries Inc. purchased a new stake in shares of Williams-Sonoma during the second quarter valued at $207,000. High Falls Advisors Inc boosted its stake in shares of Williams-Sonoma by 7.7% in the second quarter. High Falls Advisors Inc now owns 4,343 shares of the specialty retailer’s stock valued at $211,000 after buying an additional 312 shares in the last quarter. Verition Fund Management LLC purchased a new stake in shares of Williams-Sonoma during the second quarter valued at $395,000. Linscomb & Williams Inc. boosted its stake in shares of Williams-Sonoma by 10.8% in the second quarter. Linscomb & Williams Inc. now owns 46,488 shares of the specialty retailer’s stock valued at $2,255,000 after buying an additional 4,517 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. boosted its stake in shares of Williams-Sonoma by 39.4% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 8,758 shares of the specialty retailer’s stock valued at $425,000 after buying an additional 2,476 shares in the last quarter. 95.52% of the stock is owned by hedge funds and other institutional investors.
Williams-Sonoma Company Profile
Williams-Sonoma, Inc is a multi-channel specialty retailer of products for the home. The Company operates retail stores in the United States, Canada, Puerto Rico, Australia and the United Kingdom. It operates through two segments: e-commerce and retail. The e-commerce segment has various merchandising strategies, such as Williams-Sonoma, Pottery Barn, Pottery Barn Kids, West Elm, PBteen, Williams-Sonoma Home, Rejuvenation and Mark and Graham, which sell its products through the Company’s e-commerce Websites and direct-mail catalogs.
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