Williams-Sonoma (WSM) Upgraded to Hold at Zacks Investment Research

Williams-Sonoma (NYSE:WSM) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Tuesday, November 21st.

According to Zacks, “Williams-Sonoma’s third-quarter fiscal 2017 earnings of 84 cents per share were in line with the Zacks Consensus Estimate. Earnings also increased 7.7% from the year-ago level. Net revenues of $1,299 million were slightly higher than the concensus estimate of $1,293 million and improved 4.3% year over year. However, net revenues reflect an estimated $7-million impact of lost sales associated with the hurricanes in Texas, Florida and Puerto Rico. Comparable brand revenues increased 3.3% in the quarter. The company’s namesake brand’s comparable brand revenues were up 2.3%, better than 0.1% growth in the prior-year quarter. However, West Elm’s comparable brand revenue growth compared unfavorably with the prior-year quarter. Moreover, continued e-commerce and supply chain investments weighed on operating margins. Operating margin was 8.5% in the quarter, down 40 basis points (bps) from the year-ago quarter.”

A number of other research firms also recently weighed in on WSM. J P Morgan Chase & Co downgraded Williams-Sonoma from an “overweight” rating to an “underweight” rating and set a $46.00 target price for the company. in a report on Friday, November 17th. Gordon Haskett cut Williams-Sonoma from a “hold” rating to a “reduce” rating in a research report on Friday, November 17th. Oppenheimer restated a “hold” rating on shares of Williams-Sonoma in a research report on Friday, November 17th. Morgan Stanley began coverage on Williams-Sonoma in a research report on Friday, November 17th. They issued a “hold” rating and a $48.00 price target on the stock. Finally, Bank of America decreased their price target on Williams-Sonoma from $40.00 to $38.00 and set an “underperform” rating on the stock in a research report on Friday, November 17th. Six analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and four have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $51.39.

Williams-Sonoma (WSM) traded up $0.06 on Tuesday, hitting $53.50. The stock had a trading volume of 2,124,320 shares, compared to its average volume of 1,733,219. Williams-Sonoma has a 12 month low of $42.68 and a 12 month high of $56.94. The firm has a market capitalization of $4,544.92, a P/E ratio of 15.33, a P/E/G ratio of 2.00 and a beta of 0.89.

Williams-Sonoma (NYSE:WSM) last posted its earnings results on Thursday, November 16th. The specialty retailer reported $0.84 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.84. Williams-Sonoma had a return on equity of 25.45% and a net margin of 5.94%. The company had revenue of $1.30 billion during the quarter, compared to the consensus estimate of $1.29 billion. During the same quarter last year, the firm earned $0.78 earnings per share. The company’s revenue was up 4.3% on a year-over-year basis. analysts predict that Williams-Sonoma will post 3.54 earnings per share for the current fiscal year.

Institutional investors have recently added to or reduced their stakes in the business. Ffcm LLC bought a new position in Williams-Sonoma in the third quarter valued at about $125,000. Alpha Omega Wealth Management LLC grew its position in Williams-Sonoma by 828.3% in the second quarter. Alpha Omega Wealth Management LLC now owns 2,785 shares of the specialty retailer’s stock valued at $135,000 after acquiring an additional 2,485 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Williams-Sonoma by 10.4% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,911 shares of the specialty retailer’s stock valued at $141,000 after purchasing an additional 274 shares in the last quarter. IFP Advisors Inc boosted its stake in shares of Williams-Sonoma by 39.8% during the second quarter. IFP Advisors Inc now owns 2,945 shares of the specialty retailer’s stock valued at $143,000 after purchasing an additional 838 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. boosted its stake in shares of Williams-Sonoma by 7.1% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 3,750 shares of the specialty retailer’s stock valued at $182,000 after purchasing an additional 250 shares in the last quarter. Hedge funds and other institutional investors own 96.62% of the company’s stock.

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About Williams-Sonoma

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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