Wayfair Inc. (NYSE:W) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Wednesday.
According to Zacks, “Wayfair Inc. engages in the e-commerce business. It offers bedroom, living room, kitchen and dining, home entertainment, home office, game room and bar, patio, hallway and entryway, and bathroom furniture. The Company operates under the Wayfair.com, Joss & Main, AllModern, DwellStudio, and Birch Lane brands. It offers products and services primarily in the United States. Wayfair LLC is headquartered in Boston, Massachusetts. “
Other equities research analysts also recently issued reports about the company. Bank of America Corp. downgraded Wayfair from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $54.00 to $45.00 in a report on Wednesday, August 10th. Vetr upgraded Wayfair from a “buy” rating to a “strong-buy” rating and set a $42.28 price target on the stock in a report on Thursday, August 18th. Maxim Group set a $49.00 price target on Wayfair and gave the stock a “buy” rating in a report on Tuesday, August 9th. Longbow Research assumed coverage on Wayfair in a report on Thursday, June 16th. They issued a “neutral” rating on the stock. Finally, Wedbush reduced their price target on Wayfair from $60.00 to $55.00 and set an “outperform” rating on the stock in a report on Wednesday, August 10th. Fourteen equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. Wayfair presently has an average rating of “Hold” and an average target price of $51.42.
Shares of Wayfair (NYSE:W) traded up 2.27% during midday trading on Wednesday, hitting $37.01. The stock had a trading volume of 160,204 shares. The stock’s 50-day moving average is $39.58 and its 200-day moving average is $40.10. The stock’s market cap is $3.15 billion. Wayfair has a 12 month low of $28.85 and a 12 month high of $50.00.
Wayfair (NYSE:W) last issued its quarterly earnings results on Tuesday, August 9th. The company reported ($0.43) earnings per share for the quarter, missing the consensus estimate of ($0.41) by $0.02. Wayfair had a negative return on equity of 56.95% and a negative net margin of 4.20%. The business earned $755.70 million during the quarter, compared to analysts’ expectations of $782.43 million. During the same quarter in the previous year, the company posted ($0.15) earnings per share. The company’s quarterly revenue was up 60.0% compared to the same quarter last year. Equities analysts anticipate that Wayfair will post ($1.67) EPS for the current year.
In other Wayfair news, Director Michael Andrew Kumin sold 500,000 shares of Wayfair stock in a transaction dated Tuesday, August 30th. The stock was sold at an average price of $38.23, for a total transaction of $19,115,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Great Hill Equity Partners Iv sold 300,000 shares of Wayfair stock in a transaction dated Monday, August 29th. The stock was sold at an average price of $38.10, for a total value of $11,430,000.00. The disclosure for this sale can be found here. 63.94% of the stock is owned by insiders.
A number of hedge funds have recently modified their holdings of W. FMR LLC raised its position in Wayfair by 2.5% in the second quarter. FMR LLC now owns 7,093,073 shares of the company’s stock worth $276,630,000 after buying an additional 169,776 shares during the last quarter. Vanguard Group Inc. raised its position in Wayfair by 9.9% in the second quarter. Vanguard Group Inc. now owns 2,113,511 shares of the company’s stock worth $82,427,000 after buying an additional 190,273 shares during the last quarter. Baillie Gifford & Co. raised its position in Wayfair by 134.8% in the second quarter. Baillie Gifford & Co. now owns 1,509,644 shares of the company’s stock worth $58,876,000 after buying an additional 866,829 shares during the last quarter. Lord Abbett & CO. LLC raised its position in Wayfair by 0.7% in the second quarter. Lord Abbett & CO. LLC now owns 1,394,795 shares of the company’s stock worth $54,397,000 after buying an additional 10,074 shares during the last quarter. Finally, Jennison Associates LLC raised its position in Wayfair by 15.4% in the second quarter. Jennison Associates LLC now owns 1,315,287 shares of the company’s stock worth $51,296,000 after buying an additional 175,058 shares during the last quarter. 71.84% of the stock is owned by institutional investors.
Wayfair Inc (Wayfair) offers browsing, merchandising, product discovery and prices for a range of products from suppliers across various brands, including Wayfair.com, Joss & Main, AllModern, DwellStudio and Birch Lane. The Company offers a range of furniture, home furnishings, decor and goods. Wayfair produces editorial content both in-house and through third parties.
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