Zacks Investment Research upgraded shares of Shutterfly (NASDAQ:SFLY) from a sell rating to a hold rating in a research report sent to investors on Monday.
According to Zacks, “Shares of Shutterfly have underperformed the S&P 500 in the past six months. Although the company reported better-than-expected results in fourth-quarter 2018, disappointing Shutterfly consumer growth is a major concern. The company also anticipates moderated Shutterfly consumer growth in the near term. This prompted management to lower adjusted EBITDA growth expectation for the next three year. Earnings estimate for the current-quarter and year have also witnessed downward revisions over the past 30 days. Also, Shutterfly’s net revenues and performance are affected by vacation and other travel trends as these boost digital camera sales. However, Shutterfly’s focus on improving operational efficiency through major restructuring bodes well. Continual product innovations and focus on improving technology-related offerings are added positives.”
Get Shutterfly alerts:Other research analysts have also recently issued research reports about the stock. Goldman Sachs Group assumed coverage on shares of Shutterfly in a report on Monday, February 4th. They set a sell rating and a $40.00 target price for the company. BidaskClub upgraded shares of Shutterfly from a strong sell rating to a sell rating in a research report on Saturday, January 5th. SunTrust Banks reduced their target price on shares of Shutterfly to $70.00 and set a buy rating on the stock in a research note on Friday, February 1st. They noted that the move was a valuation call. Aegis reaffirmed a buy rating and set a $78.00 target price (down from $100.00) on shares of Shutterfly in a research note on Friday, November 30th. Finally, KeyCorp began coverage on shares of Shutterfly in a research note on Friday, November 9th. They issued a sector weight rating on the stock. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company’s stock. Shutterfly has a consensus rating of Hold and a consensus target price of $70.40.
NASDAQ SFLY opened at $43.62 on Monday. The firm has a market capitalization of $1.51 billion, a price-to-earnings ratio of 14.30, a P/E/G ratio of 2.82 and a beta of 1.49. Shutterfly has a 12-month low of $35.08 and a 12-month high of $100.34. The company has a debt-to-equity ratio of 1.62, a current ratio of 1.80 and a quick ratio of 1.76.
Shutterfly (NASDAQ:SFLY) last posted its quarterly earnings results on Tuesday, February 5th. The technology company reported $5.19 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $5.28 by ($0.09). The company had revenue of $949.97 million during the quarter, compared to analysts’ expectations of $951.60 million. Shutterfly had a return on equity of 18.78% and a net margin of 2.57%. The company’s quarterly revenue was up 60.0% on a year-over-year basis. During the same period in the prior year, the business posted $3.11 EPS. As a group, equities analysts anticipate that Shutterfly will post 0.74 earnings per share for the current year.
In related news, VP Jason Sebring sold 1,625 shares of the firm’s stock in a transaction that occurred on Monday, February 25th. The shares were sold at an average price of $46.49, for a total value of $75,546.25. Following the transaction, the vice president now owns 1,625 shares in the company, valued at $75,546.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Lisa Blackwood-Kapral sold 668 shares of the firm’s stock in a transaction that occurred on Friday, February 15th. The shares were sold at an average price of $45.93, for a total transaction of $30,681.24. Following the completion of the transaction, the chief accounting officer now owns 1,625 shares in the company, valued at approximately $74,636.25. The disclosure for this sale can be found here. Over the last three months, insiders sold 29,894 shares of company stock worth $1,366,426. 1.30% of the stock is owned by corporate insiders.
Several institutional investors and hedge funds have recently bought and sold shares of SFLY. Piedmont Investment Advisors Inc. boosted its holdings in Shutterfly by 3.8% in the fourth quarter. Piedmont Investment Advisors Inc. now owns 7,995 shares of the technology company’s stock worth $322,000 after purchasing an additional 292 shares during the period. State of Alaska Department of Revenue raised its stake in shares of Shutterfly by 2.8% during the fourth quarter. State of Alaska Department of Revenue now owns 11,233 shares of the technology company’s stock valued at $452,000 after purchasing an additional 310 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Shutterfly by 11.2% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,269 shares of the technology company’s stock worth $172,000 after acquiring an additional 429 shares in the last quarter. Stifel Financial Corp raised its position in Shutterfly by 6.2% in the fourth quarter. Stifel Financial Corp now owns 8,911 shares of the technology company’s stock worth $358,000 after acquiring an additional 520 shares in the last quarter. Finally, Thrivent Financial for Lutherans raised its position in Shutterfly by 2.2% in the fourth quarter. Thrivent Financial for Lutherans now owns 23,841 shares of the technology company’s stock worth $960,000 after acquiring an additional 524 shares in the last quarter.
Shutterfly Company Profile
Shutterfly, Inc manufactures and retails personalized products and services primarily in the United States, Canada, and the European Community. The company operates through Consumer and Shutterfly Business Solutions segments. It offers a range of personalized photo-based products and services that enable consumers to upload, edit, enhance, organize, find, share, create, print, and preserve their memories.
Read More: What are different types of coverage ratios?
Get a free copy of the Zacks research report on Shutterfly (SFLY)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
No comments:
Post a Comment