Zacks Investment Research Downgrades Williams-Sonoma, Inc. (WSM) to Hold
Williams-Sonoma, Inc. (NYSE:WSM) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Friday.
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. Although shares of Williams-Sonoma have underperformed its industry so far this year, earnings estimates for the current quarter and the year have moved north over the last 60 days, reflecting analysts’ optimism on the stock’s prospect. However, soft retail environment and cautious consumer spending pattern raise concern.”
Other analysts have also issued reports about the company. Stifel Nicolaus began coverage on Williams-Sonoma in a report on Thursday. They issued a “hold” rating and a $54.00 price objective for the company. Credit Suisse Group lowered Williams-Sonoma from a “neutral” rating to an “underperform” rating and set a $44.00 price objective for the company. in a report on Thursday. Oppenheimer Holdings, Inc. reissued a “hold” rating on shares of Williams-Sonoma in a report on Thursday, August 24th. Guggenheim reissued a “neutral” rating on shares of Williams-Sonoma in a report on Thursday, August 24th. Finally, J P Morgan Chase & Co reissued an “overweight” rating and issued a $60.00 price objective (down from $64.00) on shares of Williams-Sonoma in a report on Thursday, August 24th. Five research analysts have rated the stock with a sell rating, eighteen have given a hold rating and six have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $52.18.
Williams-Sonoma (NYSE:WSM) last announced its quarterly earnings data on Wednesday, August 23rd. The specialty retailer reported $0.61 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.59 by $0.02. The firm had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.20 billion. Williams-Sonoma had a return on equity of 25.43% and a net margin of 5.96%. Williams-Sonoma’s quarterly revenue was up 3.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.58 earnings per share.
Several large investors have recently modified their holdings of the company. Acrospire Investment Management LLC increased its position in Williams-Sonoma by 100.0% during the 2nd quarter. Acrospire Investment Management LLC now owns 2,000 shares of the specialty retailer’s stock worth $104,000 after purchasing an additional 1,000 shares in the last quarter. Creative Planning increased its position in Williams-Sonoma by 3.8% during the 1st quarter. Creative Planning now owns 2,085 shares of the specialty retailer’s stock worth $112,000 after purchasing an additional 76 shares in the last quarter. Advisory Services Network LLC increased its position in Williams-Sonoma by 12.7% during the 3rd quarter. Advisory Services Network LLC now owns 2,091 shares of the specialty retailer’s stock worth $107,000 after purchasing an additional 236 shares in the last quarter. IFP Advisors Inc increased its position in Williams-Sonoma by 11.5% during the 1st quarter. IFP Advisors Inc now owns 2,107 shares of the specialty retailer’s stock worth $113,000 after purchasing an additional 217 shares in the last quarter. Finally, First Interstate Bank increased its position in Williams-Sonoma by 12.5% during the 1st quarter. First Interstate Bank now owns 2,250 shares of the specialty retailer’s stock worth $121,000 after purchasing an additional 250 shares in the last quarter. Institutional investors own 97.89% 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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