Downgrade Alert for Williams-Sonoma (WSM)
Williams-Sonoma (NYSE:WSM) was downgraded from Outperform to Perform at Oppenheimer today. The stock closed yesterday at $46.65 on volume of 2.0 million shares, above average daily volume of 1.4 million.
Williams-Sonoma share prices have moved between a 52-week high of $89.38 and a 52-week low of $46.22 and closed yesterday at 1% above that low price at $46.65 per share. Over the past week, the 200-day moving average (MA) has gone down 0.8% while the 50-day MA has advanced 0.3%.
There is potential upside of 65.3% for shares of Williams-Sonoma based on a current price of $46.65 and an average consensus analyst price target of $77.09. The stock should run into initial resistance at its 50-day moving average (MA) of $57.08 and subsequent resistance at its 200-day MA of $65.93.
Williams-Sonoma, Inc. retails cooking and serving equipment, home furnishings, and home accessories through retail stores and mail order catalogs. The Company offers its merchandise under the Williams-Sonoma, Pottery Barn, Pottery Barn Kids, and Chambers concepts.
SmarTrend recommended that its subscribers protect gains by selling shares of Williams-Sonoma on June 14th, 2016 by issuing a Downtrend alert when the shares were trading at $50.85. Since that call, shares of Williams-Sonoma have fallen 8.2%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.
Keywords: analyst upgrades/downgrades Williams-Sonoma