Oppenheimer Gives a Hold Rating to Williams-Sonoma

In a report released today, Brian Nagel from Oppenheimer assigned a Hold rating to Williams-Sonoma (NYSE: WSM). The company’s shares closed yesterday at $49.18.

Nagel noted:

“We look quite favorably upon the better-than-expected Q1 (Apr.) results and now higher FY18 (Jan. 2019) guidance that WSM reported after the close on Wed., May 23rd. Over the past few quarters, sales trends at WSM have started to solidify and better offset still persistent, underlying expense issues for the chain. Q1 (Apr.) seemed to mark another shift upwards, as top-line trends improved further and certain cost areas leveraged better. WSM continues to contend with outsized competition and transition costs associated with ongoing enhancements to the company’s omni- channel infrastructure. That said, with shares trading at a historically depressed level, we are optimistic that indications of further improvements in the business model could usher a rather significant flow of funds into shares.”

According to TipRanks.com, Nagel is a 4-star analyst with an average return of 3.5% and a 57.8% success rate. Nagel covers the Services sector, focusing on stocks such as Restoration Hardware Holdings Inc, Dick’s Sporting Goods, and Advance Auto Parts.

Currently, the analyst consensus on Williams-Sonoma is Hold and the average price target is $52.14, representing a 6.0% upside.

In a report released yesterday, Loop Capital Markets also maintained a Hold rating on the stock with a $55 price target.

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Based on Williams-Sonoma’s latest earnings release for the quarter ending January 31, the company reported a quarterly net profit of $95.76 million. In comparison, last year the company had a net profit of $39.56 million.

Based on the recent corporate insider activity of 32 insiders, corporate insider sentiment is negative on the stock.

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Williams-Sonoma, Inc. engages in the provision of multi-channel specialty retailer. It operates through the E-commerce and Retail segments.