Williams-Sonoma (NYSE:WSM) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Saturday. The firm currently has a $57.00 price target on the specialty retailer’s stock. Zacks Investment Research‘s price target would suggest a potential upside of 14.85% from the company’s previous close.
According to Zacks, “Williams-Sonoma strong brand portfolio along with focus on innovation and transformation has been the principle growth driving factor. The company continuously innovates to keep up with the changing preferences of consumers. Williams-Sonoma is one of the largest e-commerce retailers in the United States. The e-commerce segment generates around 53% of revenues and has been consistently posting strong results. The company’s investments in merchandising of its brands, efficient catalog circulations and digital marketing help drive e-commerce revenues. However, the company has been reporting soft comparable brand revenues for some time now due to soft retail environment and cautious consumer spending pattern. Also, shares of Williams-Sonoma have underperformed its industry in the past year.”
Other research analysts have also recently issued research reports about the stock. Jefferies Group reiterated a “hold” rating on shares of Williams-Sonoma in a research note on Sunday, November 19th. Goldman Sachs Group cut shares of Williams-Sonoma from a “buy” rating to a “neutral” rating in a research report on Tuesday, January 16th. Moffett Nathanson initiated coverage on shares of Williams-Sonoma in a research report on Monday, December 4th. They issued a “neutral” rating for the company. 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. Finally, Oppenheimer restated a “hold” rating on shares of Williams-Sonoma in a research report on Friday, November 17th. Six research analysts have rated the stock with a sell rating, eighteen have given a hold rating and three have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $51.20.
Williams-Sonoma (NYSE:WSM) last posted its earnings results on Thursday, November 16th. The specialty retailer reported $0.84 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.84. Williams-Sonoma had a net margin of 5.94% and a return on equity of 25.45%. The company had revenue of $1.30 billion during the quarter, compared to analysts’ expectations of $1.29 billion. During the same quarter in the previous year, the company posted $0.78 earnings per share. Williams-Sonoma’s quarterly revenue was up 4.3% compared to the same quarter last year. research analysts forecast that Williams-Sonoma will post 3.55 EPS for the current year.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in WSM. Janus Henderson Group PLC grew its holdings in Williams-Sonoma by 1,109.6% during the 2nd quarter. Janus Henderson Group PLC now owns 3,517,415 shares of the specialty retailer’s stock worth $170,595,000 after acquiring an additional 3,226,625 shares during the period. FMR LLC grew its holdings in Williams-Sonoma by 115.4% during the 2nd quarter. FMR LLC now owns 2,678,423 shares of the specialty retailer’s stock worth $129,904,000 after acquiring an additional 1,435,014 shares during the period. APG Asset Management N.V. grew its holdings in Williams-Sonoma by 124.1% during the 4th quarter. APG Asset Management N.V. now owns 1,040,700 shares of the specialty retailer’s stock worth $44,807,000 after acquiring an additional 576,300 shares during the period. American Century Companies Inc. grew its holdings in Williams-Sonoma by 411.0% during the 3rd quarter. American Century Companies Inc. now owns 638,825 shares of the specialty retailer’s stock worth $31,852,000 after acquiring an additional 513,822 shares during the period. Finally, Bank of New York Mellon Corp grew its holdings in shares of Williams-Sonoma by 17.1% in the 3rd quarter. Bank of New York Mellon Corp now owns 2,465,043 shares of the specialty retailer’s stock valued at $122,907,000 after buying an additional 360,493 shares during the period. 96.62% of the stock is owned by hedge funds and other institutional investors.
ILLEGAL ACTIVITY WARNING: This story was originally posted by American Banking News and is the sole property of of American Banking News. If you are accessing this story on another publication, it was copied illegally and reposted in violation of United States and international copyright and trademark legislation. The legal version of this story can be accessed at https://www.americanbankingnews.com/2018/02/03/williams-sonoma-wsm-rating-increased-to-buy-at-zacks-investment-research.html.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Williams-Sonoma Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Williams-Sonoma and related companies with MarketBeat.com's FREE daily email newsletter.