Williams-Sonoma, Inc. (NYSE:WSM) was downgraded by Zacks Investment Research from a “buy” rating to a “sell” rating in a report issued on Wednesday.
According to Zacks, “Williams-Sonoma has been reporting soft comparable brand revenues for sometime now due to soft retail environment and cautious consumer spending pattern. Pottery Barn, the company’s largest brand, has struggled in fiscal 2016 and early in 2017. Although the company has been working hard on the repositioning of the brand and has developed initiatives to implement across all areas of the business from product to value to marketing, we wait for better visibility. Moreover, continued e-commerce and supply chain investments weigh on operating margins. Meanwhile, although shares of Williams-Sonoma have outperformed its industry so far this year, the trend in current-year earnings estimate revisions is not satisfactory as it remained stable over the past 30 days.”
Several other research firms also recently commented on WSM. Buckingham Research decreased their price target on shares of Williams-Sonoma from $53.00 to $48.00 and set a “neutral” rating on the stock in a research note on Thursday, August 24th. Credit Suisse Group set a $44.00 price target on shares of Williams-Sonoma and gave the company a “hold” rating in a research note on Thursday, August 24th. Royal Bank Of Canada upped their price objective on shares of Williams-Sonoma from $49.00 to $50.00 and gave the stock a “sector perform” rating in a research report on Thursday, August 24th. Bank of America Corporation reaffirmed an “underperform” rating and set a $40.00 price objective (down previously from $44.00) on shares of Williams-Sonoma in a research report on Wednesday, August 23rd. Finally, Robert W. Baird set a $48.00 price objective on shares of Williams-Sonoma and gave the stock a “hold” rating in a research report on Tuesday, October 31st. Six research analysts have rated the stock with a sell rating, seventeen have given a hold rating and six have given a buy rating to the company. Williams-Sonoma presently has a consensus rating of “Hold” and an average price target of $52.18.
Williams-Sonoma (NYSE WSM) traded up $0.15 during mid-day trading on Wednesday, hitting $51.50. 1,185,300 shares of the company traded hands, compared to its average volume of 1,632,021. Williams-Sonoma has a fifty-two week low of $42.68 and a fifty-two week high of $56.94. The firm has a market capitalization of $4,403.47, a P/E ratio of 14.84, a PEG ratio of 1.10 and a beta of 0.91.
Williams-Sonoma (NYSE:WSM) last released its quarterly earnings results on Wednesday, August 23rd. The specialty retailer reported $0.61 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.59 by $0.02. Williams-Sonoma had a net margin of 5.96% and a return on equity of 25.43%. The business had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.20 billion. During the same period in the prior year, the company posted $0.58 earnings per share. Williams-Sonoma’s revenue was up 3.7% compared to the same quarter last year. analysts expect that Williams-Sonoma will post 3.59 EPS for the current year.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Verition Fund Management LLC acquired a new stake in Williams-Sonoma during the 2nd quarter valued at approximately $395,000. Alpha Windward LLC increased its position in Williams-Sonoma by 23,087.0% during the 3rd quarter. Alpha Windward LLC now owns 10,666 shares of the specialty retailer’s stock valued at $532,000 after purchasing an additional 10,620 shares during the period. Sequoia Financial Advisors LLC acquired a new stake in Williams-Sonoma during the 2nd quarter valued at approximately $2,261,000. Oxbow Advisors LLC increased its position in Williams-Sonoma by 3.7% during the 3rd quarter. Oxbow Advisors LLC now owns 35,312 shares of the specialty retailer’s stock valued at $1,761,000 after purchasing an additional 1,270 shares during the period. Finally, Principal Financial Group Inc. increased its position in Williams-Sonoma by 2.3% during the 2nd quarter. Principal Financial Group Inc. now owns 342,558 shares of the specialty retailer’s stock valued at $16,614,000 after purchasing an additional 7,818 shares during the period. Institutional investors and hedge funds own 98.93% of the company’s stock.
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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