Shutterfly (NASDAQ:SFLY) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Thursday.
According to Zacks, “Shutterfly’s business is highly seasonal and thus it generally incurs losses in the first three quarters of the year. The company’s net revenues and performance are affected by vacation and other travel trends as these drive digital camera sales. Moreover, the company’s high dependency on consumer spending trends in the United States further creates volatility in its sales. Also, costs related to accelerated development of the new production facilities along with a rise in the manufacturing, labor and training costs are expected to remain headwinds. Although shares outperformed its industry in a year's time, estimates have been trending downward. However, acquisition of Lifetouch and robust performance by the Shutterfly Business Solutions segment drove the company’s results during second-quarter 2018. Shutterfly’s focus on improving operational efficiency through major restructuring add to the positives.”
Several other research analysts have also recently commented on the stock. TheStreet cut shares of Shutterfly from a “b-” rating to a “c+” rating in a report on Tuesday, September 4th. SunTrust Banks reduced their target price on shares of Shutterfly to $100.00 and set a “buy” rating for the company in a report on Wednesday. BidaskClub cut shares of Shutterfly from a “sell” rating to a “strong sell” rating in a report on Wednesday, July 25th. Robert W. Baird increased their target price on shares of Shutterfly from $85.00 to $95.00 and gave the stock a “neutral” rating in a report on Friday, July 6th. Finally, ValuEngine cut shares of Shutterfly from a “buy” rating to a “hold” rating in a report on Wednesday, August 8th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $92.80.
Shutterfly (NASDAQ:SFLY) last announced its earnings results on Tuesday, August 7th. The technology company reported $0.53 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.43) by $0.96. Shutterfly had a net margin of 2.26% and a return on equity of 13.03%. The business had revenue of $443.37 million during the quarter, compared to analysts’ expectations of $438.30 million. As a group, equities research analysts predict that Shutterfly will post 2.69 EPS for the current year.
In other Shutterfly news, SVP Scott Arnold sold 9,868 shares of the company’s stock in a transaction on Monday, October 1st. The shares were sold at an average price of $65.75, for a total transaction of $648,821.00. Following the sale, the senior vice president now directly owns 9,868 shares of the company’s stock, valued at $648,821. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Ishantha Lokuge sold 3,740 shares of the company’s stock in a transaction on Monday, October 15th. The stock was sold at an average price of $61.45, for a total transaction of $229,823.00. Following the sale, the senior vice president now directly owns 7,500 shares in the company, valued at $460,875. The disclosure for this sale can be found here. Insiders have sold 36,264 shares of company stock valued at $2,555,105 in the last 90 days. 0.80% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. United Services Automobile Association raised its position in Shutterfly by 14.2% during the second quarter. United Services Automobile Association now owns 5,904 shares of the technology company’s stock worth $532,000 after acquiring an additional 732 shares in the last quarter. Northern Trust Corp raised its position in Shutterfly by 3.5% during the second quarter. Northern Trust Corp now owns 432,912 shares of the technology company’s stock worth $38,974,000 after acquiring an additional 14,590 shares in the last quarter. Public Employees Retirement System of Ohio raised its position in Shutterfly by 55.7% during the second quarter. Public Employees Retirement System of Ohio now owns 16,920 shares of the technology company’s stock worth $1,523,000 after acquiring an additional 6,050 shares in the last quarter. WINTON GROUP Ltd bought a new stake in Shutterfly during the second quarter worth $10,663,000. Finally, Verition Fund Management LLC bought a new stake in Shutterfly during the second quarter worth $1,669,000.
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.
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