Royal Bank of Canada Increases Williams-Sonoma (WSM) Price Target to $61.00

Williams-Sonoma (NYSE:WSM) had its target price hoisted by investment analysts at Royal Bank of Canada from $56.00 to $61.00 in a research note issued to investors on Thursday. The brokerage presently has a “sector perform” rating on the specialty retailer’s stock. Royal Bank of Canada’s price target points to a potential upside of 11.91% from the stock’s current price.

A number of other research analysts have also weighed in on WSM. Morgan Stanley lifted their price objective on shares of Williams-Sonoma from $51.00 to $53.00 and gave the company an “equal weight” rating in a research note on Thursday. Zacks Investment Research lowered shares of Williams-Sonoma from a “hold” rating to a “sell” rating in a research note on Wednesday, May 16th. Deutsche Bank boosted their price target on shares of Williams-Sonoma from $50.00 to $53.00 and gave the company a “hold” rating in a research report on Thursday. Telsey Advisory Group boosted their price target on shares of Williams-Sonoma from $59.00 to $64.00 and gave the company a “market perform” rating in a research report on Thursday. Finally, Loop Capital restated a “hold” rating and set a $58.00 price target on shares of Williams-Sonoma in a research report on Thursday. Eight analysts have rated the stock with a sell rating, sixteen have given a hold rating and one has issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $53.00.

Williams-Sonoma stock traded up $5.33 during mid-day trading on Thursday, reaching $54.51. The company’s stock had a trading volume of 387,004 shares, compared to its average volume of 1,364,052. Williams-Sonoma has a 12-month low of $42.68 and a 12-month high of $56.38. The firm has a market capitalization of $3.98 billion, a price-to-earnings ratio of 15.25, a P/E/G ratio of 0.87 and a beta of 0.73. The company has a current ratio of 1.62, a quick ratio of 0.57 and a debt-to-equity ratio of 0.25.

Williams-Sonoma (NYSE:WSM) last released its quarterly earnings data on Wednesday, May 23rd. The specialty retailer reported $0.67 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.09. Williams-Sonoma had a net margin of 4.90% and a return on equity of 26.06%. The business had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.16 billion. During the same period in the previous year, the business earned $0.51 EPS. Williams-Sonoma’s revenue was up 8.2% compared to the same quarter last year. equities research analysts forecast that Williams-Sonoma will post 4.18 EPS for the current year.

Williams-Sonoma announced that its board has initiated a share repurchase program on Wednesday, March 14th that authorizes the company to buyback $286.00 million in shares. This buyback authorization authorizes the specialty retailer to purchase shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s board believes its stock is undervalued.

In other Williams-Sonoma news, insider Janet Hayes sold 9,034 shares of the business’s stock in a transaction on Tuesday, March 27th. The shares were sold at an average price of $51.66, for a total value of $466,696.44. Following the completion of the sale, the insider now directly owns 38,563 shares of the company’s stock, valued at $1,992,164.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Laura Alber sold 97,965 shares of the business’s stock in a transaction on Monday, March 19th. The stock was sold at an average price of $54.21, for a total transaction of $5,310,682.65. Following the completion of the sale, the chief executive officer now directly owns 264,621 shares of the company’s stock, valued at $14,345,104.41. The disclosure for this sale can be found here. Insiders own 1.00% of the company’s stock.

Institutional investors have recently bought and sold shares of the business. Rational Advisors LLC bought a new stake in Williams-Sonoma in the fourth quarter worth $171,000. Covenant Asset Management LLC bought a new stake in Williams-Sonoma in the first quarter worth $208,000. Princeton Portfolio Strategies Group LLC bought a new stake in Williams-Sonoma in the first quarter worth $226,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Williams-Sonoma by 49.1% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,340 shares of the specialty retailer’s stock worth $224,000 after purchasing an additional 1,429 shares during the last quarter. Finally, Quadrature Capital Ltd bought a new stake in Williams-Sonoma in the fourth quarter worth $236,000.

Williams-Sonoma Company Profile

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.

Analyst Recommendations for Williams-Sonoma (NYSE:WSM)

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