Wayfair Inc. (NYSE:W) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Thursday.
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. “
Several other research analysts have also recently commented on W. Wedbush reduced their target price on Wayfair from $60.00 to $55.00 and set an “outperform” rating for the company in a research report on Wednesday, August 10th. Maxim Group cut their price objective on Wayfair from $49.00 to $45.00 and set a “buy” rating for the company in a report on Wednesday, November 9th. Oppenheimer Holdings Inc. reissued a “sector perform” rating on shares of Wayfair in a report on Sunday, August 14th. Vetr cut Wayfair from a “strong-buy” rating to a “buy” rating and set a $42.28 price objective for the company. in a report on Friday, August 12th. Finally, Goldman Sachs Group Inc. cut Wayfair from a “buy” rating to a “neutral” rating and cut their price objective for the company from $46.00 to $43.00 in a report on Wednesday, August 10th. Fourteen analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $51.15.
Shares of Wayfair (NYSE:W) opened at 33.30 on Thursday. The firm’s 50-day moving average is $36.33 and its 200 day moving average is $39.00. The company’s market cap is $2.85 billion. Wayfair has a 1-year low of $27.60 and a 1-year high of $50.00.
Wayfair (NYSE:W) last issued its earnings results on Tuesday, November 8th. The company reported ($0.54) EPS for the quarter, topping the consensus estimate of ($0.59) by $0.05. The firm earned $861.50 million during the quarter, compared to analysts’ expectations of $849.42 million. Wayfair had a negative return on equity of 91.94% and a negative net margin of 5.29%. Wayfair’s quarterly revenue was up 45.0% compared to the same quarter last year. During the same period last year, the business earned ($0.13) earnings per share. Equities analysts expect that Wayfair will post ($1.84) EPS for the current fiscal year.
In other news, insider Jeremy Delinsky sold 2,871 shares of Wayfair stock in a transaction dated Thursday, November 3rd. The stock was sold at an average price of $32.12, for a total transaction of $92,216.52. Following the transaction, the insider now owns 53,042 shares in the company, valued at approximately $1,703,709.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO James Savarese sold 1,682 shares of Wayfair stock in a transaction dated Wednesday, November 16th. The shares were sold at an average price of $36.24, for a total value of $60,955.68. Following the transaction, the chief operating officer now owns 606,392 shares in the company, valued at approximately $21,975,646.08. The disclosure for this sale can be found here. Company insiders own 63.94% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the stock. Teachers Advisors Inc. boosted its position in Wayfair by 2.3% in the first quarter. Teachers Advisors Inc. now owns 30,241 shares of the company’s stock valued at $1,307,000 after buying an additional 691 shares during the period. BlackRock Institutional Trust Company N.A. boosted its position in Wayfair by 4.8% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 555,160 shares of the company’s stock valued at $23,994,000 after buying an additional 25,347 shares during the period. Goldman Sachs Group Inc. boosted its position in Wayfair by 23.4% in the first quarter. Goldman Sachs Group Inc. now owns 50,569 shares of the company’s stock valued at $2,185,000 after buying an additional 9,595 shares during the period. Ruane Cunniff & Goldfarb Inc. acquired a new position in Wayfair during the second quarter valued at $4,961,000. Finally, Calamos Advisors LLC boosted its position in Wayfair by 20.1% in the second quarter. Calamos Advisors LLC now owns 15,898 shares of the company’s stock valued at $620,000 after buying an additional 2,662 shares during the period. Institutional investors and hedge funds own 71.49% of the company’s stock.
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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